The Ministry of Investment, Trade, and Industry in Malaysia has proposed a one-time subsidy to promote electric vehicle (EV) ownership and transition from traditional internal-combustion engines.
The proposal, aimed at reducing fuel subsidies in the long term, has been submitted to the Finance Ministry and is currently under consideration. Malaysia already offers incentives for EV ownership, including tax exemptions and income tax relief, according to The Edge Malaysia.
Besides that, the government plans to prioritise expanding the fast-charging network to address the surge in EV sales. As of 2023, the sales volume of new battery electric vehicles increased by 400%, reaching 13,257 units.
To alleviate “range anxiety,” the government is focusing on installing more direct current (DC) fast chargers, with a goal of deploying 10,000 EV chargers (9,000 AC and 1,000 DC) by 2025, of which 2,020 chargers have been installed by December 2023.
The Trade Ministry is conducting a comprehensive review of targets and plans to present proposals for enhancing DC fast charger deployment in the second quarter of 2024.
