Malaysia Govt plans to provide incentives for B40 to buy EVs, but only for e-motorcycles

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The Malaysian Government may introduce a new incentive specific for the B40 group in the country to purchase electric vehicles (EVs) in Budget 2024. Such an incentive was touted by the Ministry of Investment, Trade and Industry (MITI), but will only apply to purchases of e-motorcycles. 

As reported by Bernama, MITI Deputy Secretary-General (Industry) Datuk Hanafi Sakri said that the proposal has been sent to the Ministry of Finance (MOF). He added that MITI is hoping for a positive response from MOF on the matter, as the initiative would further develop the EV industry in our country. 

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Hanafi further elaborated that the two-wheeled EV market in Malaysia is still low at less than 1 per cent. Hence, such an incentive for the B40 group would further boost EV adoption in our country.

Besides that, the MITI Deputy Secretary-General also revealed that the government had already introduced many incentives in 2022 and 2023 to develop the industry. For example, Malaysia is aiming to have 10000 EV charging stations nationwide by 2025, comprising 1000 direct current fast chargers and 9000 alternate current chargers. 

So, what do you guys think of the proposal by MITI to provide incentives for the B40 group to buy e-motorcycles? Share your thoughts with us in the comments below and stay tuned to TechNave for more trending tech and EV news such as this.