The Malaysian government is confident that the production of hybrid and electric vehicles in the country will contribute 10 percent to the Total Industry Volume (TIV) in 2020, a government official said here Thursday.

Malaysia's International Trade and Industry Minister Datuk Seri Mustapa Mohamed told reporters that this segment in Malaysia was growing yearly, though still relatively slow, when compared with other developing nations in the world.

With only about 8,000 hybrid and 21 electric cars on-the-road currently, he said there was huge space for growth and improvement, in respect of Malaysia's market share in the specific auto segment.

"Globally, there are about 80,000 electric vehicles and 3 billion hybrid vehicles. In Malaysia, the number is very small," he said.

"But we are confident that by 2020, this segment will be big. Malaysia does not want to lose out in the encouraging development of electric and hybrid vehicles globally," he said.

"The government is also giving more emphasis to the electric and hybrid vehicle initiative in the revised National Automotive Polivy (NAP) which is set to be tabled before the cabinet soon. There are many more tax and fiscal incentives to spur the growth of the green vehicles in Malaysia," the minister added.