Things are getting more interesting in Malaysia. Recently, the Ministry of Transport under the leadership of Minister Anthony Loke Siew Fook is finalising the details for the road tax rate or motor vehicle license (LKM) for electric vehicles (EV). That said, what should you know about it?
This measure is taken to make the EV road tax more attractive and the economy rate lower compared to internal combustion engine (ICE) vehicles. Challenges in this detailing process include the capacity comparison (CC) between ICE cars and EVs. Currently, where EV don’t have to pay tax but they are worried that they will be taxed higher than ICE cars.
In addition, Minister Anthony Loke hopes the road tax details for EVs can be announced before the end of April, ensuring that the tax rate paid by buyers remains within a reasonable range. He made this statement after witnessing the signing of a Memorandum of Understanding (MoU) between Warisan Tan Chong Automotive (M) Sdn Bhd (WTCA) and Guangzhou Automotive Group (GAC) Motor International Co Ltd (GAC Motor International) at a ceremony.
The collaboration between WTCA and GAC Motor International is expected to start two local assembly (CKD) projects in Malaysia. Minister Loke stated the importance of technology sharing between China and Malaysia in driving progress and innovation in the automotive industry in his speech.
This move is also seen as an effort to promote sustainable transport and reduce carbon emissions, in line with the country's goal of achieving net zero greenhouse gas emissions by 2050. Hopefully, everything will go smoothly.
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