News

Govt offers incentives for electric vehicles

Datuk Seri Mohamed Azmin Ali

KUALA LUMPUR, Oct 5 -- The government has offered incentives in the form of direct and indirect tax relief for the assembly or manufacturing of electric vehicles (EV), component parts, and the development of EV ecosystems such as charging facilities.

Minister of International Trade and Industry Datuk Seri Mohamed Azmin Ali said among the incentives are pioneer status for the production of original goods, investment tax allowance, and the exemption of import and excise duties.

“Malaysia takes the ‘compare and offer’ approach by forming a comprehensive, clear and consistent policy to entice EV use, while our regional competitors focus on incentives to OEMs (original equipment manufacturers),” he told the Dewan Rakyat during his winding-up speech for his ministry for the recently tabled 12th Malaysia Plan (12MP).

The minister said the National Automotive Policy underlines specific initiatives to strengthen the EV ecosystem, such as critical parts manufacturers, standard-setting, and encouraging research and development, commercialisation, and innovation to develop local technologies.

“The ministry is refining the incentive package to encourage the use of EVs, this includes road tax exemption, income tax relief for the purchase of EVs, as well as income tax relief for installation of EV charging facilities,” he added.

Commenting on trade, Mohamed Azmin said the government realises that for the economy to recover it needs to have business-friendly policies, which is why trade agreements such as  the Regional Comprehensive Economic Partnership (RCEP) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership CPTPP) need to be ratified.

“These free trade agreements will widen the export market for local products through the reduction or abolishment of import duties in member countries as well as the reduction of non-tariff barriers,” he added.

-- BERNAMA

 

    Other News

Sarawak Lepasi Sasaran Kapasiti Gabungan Tenaga Boleh Baharu Tahun Ini - Abang Johari

Oleh Nur Ashikin Abdul Aziz

SINGAPURA, 21 Okt (Bernama) -- Sarawak mencapai 62 peratus sasaran campuran kapasiti tenaga boleh baharu (TBB) tahun ini, melepasi sasaran 60 peratus yang digariskan dalam Strategi Pembangunan Pasca COVID-19 (PCDS) 2030.

Sarawak Pacu Pertumbuhan Tenaga Boleh Diperbaharui Untuk Manfaat ASEAN - Premier

SINGAPURA, 21 Okt (Bernama) -- Sarawak komited menyokong peralihan tenaga boleh diperbaharui di Asia Tenggara dengan memanfaatkan potensinya sebagai "Bateri ASEAN," yang akan membekalkan tenaga bersih menerusi sambungan Grid Kuasa Borneo dan ASEAN.             

Belanjawan 2025 Percepat Peralihan Kepada Tenaga Bersih - Solarvest

KUALA LUMPUR, 19 Okt (Bernama) -- Belanjawan 2025 merupakan satu langkah ke arah mempercepat peralihan kepada tenaga bersih di Malaysia, kata Solarvest Holdings Bhd.