The Ministry of Investment, Trade and Industry (MITI) is actively proposing an incentive for electric vehicle (EV) purchases, specifically targeting e-motorcycles, which will be introduced in Budget 2024.
Datuk Hanafi Sakri, the Deputy Secretary-General (Industry), stated that the proposed incentive, already submitted to the Ministry of Finance (MoF), will concentrate on vehicle owners in the B40 income group, according to Bernama.
“We hope to receive a positive response. MITI hopes the MoF will support the development of the EV industry,” he said.
Regarding the overall growth of the EV industry, he mentioned that the government had introduced numerous incentives in 2022 and 2023 to foster industry development, encompassing both demand and supply.
Hanafi emphasized that the market share of two-wheeled EVs in Malaysia remains below one percent. Therefore, he expects that these initiatives, along with the proposed incentive in Budget 2024, will stimulate EV adoption in Malaysia.
Malaysia’s goal is to establish 10,000 EV charging stations nationwide by 2025, consisting of 1,000 direct current fast chargers and 9,000 alternate current chargers.
