Government May Announce “Attractive” EV Incentives in July 2021

Malaysia is behind the curve in terms of Electric vehicle (EV) adoption, but this may change in the near future. According to the Malaysia Automotive, Robotics and IoT Institute (MARii), an “accelerated EV policy” under the National Automotive Policy (NAP) 2020 may be announced sometime in July 2021.

The new policy will benefit both EV manufacturers and buyers in Malaysia, as reported by Bernama. For the former, the CEO of MARii, Datuk Madani Sahari, said that “handsome” tax exemption will be given, such as huge tax reduction in excise duty, import duty, and sales tax for EVs.

As for EV buyers in Malaysia, a number of benefits are being proposed. These include lower road tax, “green parking” scheme, discounts on the installation of home chargers, and even toll rebates. Basically, these are meant to lower the ownership cost of an EV locally.

Without a doubt these incentives are attractive, but it’s worth noting that the accelerated EV policy is still in discussion. Madani said that he hopes the policy will be brought to the cabinet by June next month. If that’s done, the finalised incentives can be announced sometime in July the following month.

What do you think? Are these incentives good enough for you to consider purchasing an EV in Malaysia? Let us know in the comments section below!