Tengku Datuk Seri Zafrul Tengku Abdul Aziz announced that proposals to enhance Malaysia's electric vehicle (EV) market have been submitted to the Finance Ministry, including extending the sales tax exemption for EVs. Current import and excise duty exemptions for battery electric vehicles (BEVs) will last until December 31, 2025, for locally assembled models. Volvo's managing director noted that existing incentives have driven EV growth, with strong demand reflected in sales. Tengku Zafrul highlighted that EVs and hybrids made up 2.77% of the total industry volume in 2022, up from just 0.05% in 2021. The government remains committed to achieving net-zero emissions by 2050.FULLY CHARGED TO SHIFT DRIVE
Tengku Datuk Seri Zafrul Tengku Abdul Aziz announced that proposals to enhance Malaysia's electric vehicle (EV) market have been submitted to the Finance Ministry, including extending the sales tax exemption for EVs. Current import and excise duty exemptions for battery electric vehicles (BEVs) will last until December 31, 2025, for locally assembled models. Volvo's managing director noted that existing incentives have driven EV growth, with strong demand reflected in sales. Tengku Zafrul highlighted that EVs and hybrids made up 2.77% of the total industry volume in 2022, up from just 0.05% in 2021. The government remains committed to achieving net-zero emissions by 2050.
