Malaysia proposes one-time subsidy for EV owners

Deputy Investment, Trade and Industry Minister Liew Chin Tong (Photo: Bernama)

Kuala Lumpur (VNA) - The Ministry of Investment, Trade and Industry (MITI) of Malaysia has presented a proposal for a one-time subsidy for electric vehicle (EV) owners to boost the growth of this industry.

Deputy Investment, Trade and Industry Minister Liew Chin Tong said on February 28 that the suggestion was presented to the Ministry of Finance during the National EV Steering Committee’s meeting.

The Low Carbon Mobility Blueprint 2021-2030 announced by the Malaysian Government in 2020 outlines a target to have 10,000 EV charging stations by 2025 whereby 9,000 units are AC (alternating current) chargers and 1,000 units are DC (direct current) ones.

In 2023, the annual sales volume of new battery EVs (BEVs) in the country increased by over 400% to 13,257 units compared to 3,127 units in 2022.

As at December 31 2023, 2,020 charging stations had been installed in 750 locations across the country, of which 1,591 units are AC type, and the remaining 429 units are DC type./.

VNA