A new policy to accelerate Malaysia’s EV industry

KUALA LUMPUR: Malaysia Automotive, Robotics, & IoT Institute (MARii) CEO, Dato Madani Sahari has announced a new policy package for electric vehicles - Plug-in Hybrid Vehicles and Battery Electric Vehicles in particular. The policy also concerns the infrastructure and localisation of electric vehicles.

It is to be noted that the new policy, ‘The Accelerated EV policy’ does not replace the widely noted ‘National Automotive Policy (NAP) 2020’. The latter concerns the proper specifics and regulations regarding alternatively powered vehicles. As for the former, it is currently in its final preparation stage and will be presented in parliament by the end of June or early July, before becoming a policy.

Key highlights of ‘The Accelerated EV policy’

• As an addition to the NAP 2020, it hopes to respond to stimulus packages that attracted EV companies and subsidiaries from around the world to ASEAN countries like Vietnam, Thailand, and Indonesia
• It aims to offer incentives, regulations, and standards to build an EV ecosystem consisting of infrastructure, localised talent & expertise, and local technology development
• Most importantly unlike the previous EV policy, it will include not just manufacturers but owners as well

Speaking of which, ‘The Accelerated EV policy’ has proposed several incentives for EV owners and manufacturers. The former is proposed to enjoy toll rebates, reduce road tax charges, charger installation incentives, and green car parking. As for the EV manufactures, the policy has proposed reductions in import duty, excise duty, and sales taxes.

Furthermore, the EV manufacturer can also approach the authorities for more incentives in exchange for localised development.

Do let us know your thoughts on the latest EV policy of Malaysia, in the comments.

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