Great news for folks who are planning to get an electric vehicle (EV) in the near future. As announced by the government at Budget 2023, the import and excise duties exemption on fully imported (CBU) EVs in Malaysia are extended to 31 December 2024.
When the initiative was first announced, the exemption was only valid until 31 December 2023, so this is a year’s worth of extension. Thanks to this, EVs in Malaysia should remain affordable until the end of 2024, which should bolster EV adoption on our shores.
That also means the highly anticipated Smart #1 electric SUV that will be brought into Malaysia by Proton Edar can enjoy over a year of tax-free prices; the EV is set to arrive here in early Q4 2023 next year. Approved Permit (AP) fees for importing EVs to our shores will be waived until the end of 2023 as well, so there’s a chance we’ll see even more EVs locally next year.