During a roundtable with the EU-Malaysia Chamber of Commerce and Industry, the CEO of Malaysia Automotive, Robotics & IoT Institute (MARii) Dato Madani Sahari went on record to announce a new policy package catered specifically for electrified vehicles – in particular Battery Electric Vehicles (BEV) and Plug-in Hybrid Vehicles (PHEV) and the infrastructure and localisation surrounding EVs.
Madani reiterated that the new policy dubbed “The Accelerated EV policy” does not replace the National Automotive Policy (NAP) 2020 which was widely noted as being light on proper specifics and regulations with regard to alternative powered vehicles. The new policy which is reportedly in the final stages of preparation is slated to be brought up for the Parliament’s review before being made policy at the end of June, or early July.
The new policy package (which adds onto NAP 2020) hopes to respond to stimulus packages that have drawn EV industries and companies from abroad to neighbouring ASEAN countries such as Thailand, Indonesia and Vietnam. The new policy then aims to offer more specifics in the forms of incentives, standards and regulation to build the EV ecosystem’s testing infrastructure, local technology development and localised talent and expertise.
Most crucially, the new Accelerated EV policy proposes expanding on previous incentives to not include the manufacturers but owners as well.
For EV owners, the policy proposes the following incentives:
- Reduce roadtax charges
- Green car parking
- Incentives for charger installation
- Toll rebates
For manufacturers, the policy proposes a “handsome level of tax exemptions” in the form of:
- Reduced import duty
- Reduced excise duty
- Reduced sales taxes
The incentives will cover PHEV and BEV vehicles. Additionally, the policy also allows manufacturers to approach the government for further customised incentives in exchange for localised commitments and development.
Madani further clarified that while the Accelerated EV policy will offer certain fixed incentives for manufacturers that wish to invest in EV technology in Malaysia, the current ‘customised incentives program’ will still be used as a mechanism to determine the finalised incentives a manufacturer receives based on the investments that are brought into the country.
The Accelerated EV policy is said to be in principle well accepted by all ministries and is in the midst of receiving minor “tweaks” after inputs from the Ministry of Environment and Water.
*Cover image credit Facebook
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