KL Electric Mobility (KLEM) plans to lead a MYR1.5bn (US$430m) investment in a network of charging stations for electric vehicles (EVs) in the Malaysian capital city Kuala Lumpur over the next two years.

The wholly-owned subsidiary of US-based Masers Energy, in collaboration with Kuala Lumpur City Hall, hopes to have in place up to 3,000 charging stations by the end of 2016.

The roll-out of the charging infrastructure is scheduled to start next month and will be funded by local equity financing - and may later involve foreign direct investment (FDI). Around 50 stations are expected to be in place by mid-2015.

KLEM also plans to set up an EV sharing scheme in Kuala Lumpur, based largely on the Autolib scheme launched in Paris in 2011. 

It has agreed to acquire 150 small four seat Bollore Bluecars from Italian manufacturer Cecomp and is also discussing buying EVs from other manufacturers, including BMW and Nissan.