The government’s push for electric vehicle (EV) adoption can clearly be seen at the tabling of Budget 2023. Not only are import and excise duties exemption on EVs extended until the end of 2024, more EV charging stations will be added nationwide in the coming years.
GENTARI, a subsidiary of Petronas that focuses on clean energy, will be adding as many as 500 EV chargers throughout Malaysia by 2024. Tenaga Nasional Berhad (TNB) also announced a similar initiative: the company will invest RM165 million to develop the local EV charging infrastructure until 2025.
With more EV charging stations throughout Malaysia, we reckon consumers will be more willing to purchase EVs instead of more “traditional” ICE cars. On top of that, EVs in Malaysia will be tax-free until the end of 2024.