Malaysia is taking steps to further build and strengthen its electric vehicle (EV) sector through a range of policy measures, by leveraging the existing EV ecosystem and ensuring a solid talent pool for the development of Malaysia’s EV industry, said the ministry of international trade and industry (MITI), reported Bernama.
The country is looking seriously into policies that will support energy sectors to ensure that the EV ecosystem is fully supported through standards, certification and verification for charging systems as well as for battery disposal, minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz said.
“Opportunities abound in the areas of renewable energy, energy efficiency, energy storage systems and support services for EVs such as EV charging stations, operation and maintenance,” he said in his keynote address at an EV conference earlier this month.
The Malaysian government will need to strengthen the country’s technical and vocational training in order to capitalise on the EV market, said Zafrul, adding that the government has made a firm commitment to strategically develop the automotive industry, particularly the EV sector as part of its 2050 net-zero carbon ambitions.
In a move that will most likely further drive the rate of EV adoption in the country, finance minister and prime minister Datuk Seri Anwar Ibrahim announced during the tabling of the revised Budget 2023 that the current exemption for import and excise duties for fully imported (CBU) EVs will be extended by another year to December 31, 2025.
This was originally to end on December 31, 2023, before the first tabling of Budget 2023 extended the exemption to December 31, 2024.
Also receiving an extension is the import tax exemption period for components used in locally assembled EVs, which gets extended by two years to December 31, 2027 from its prior end date of December 31, 2025.