The Minister of Transport – YB Anthony Loke Siew Fook has announced that the Ministry of Transport (MOT) will be unveiling the new electric vehicle (EV) road tax structure for Malaysia by the end of April this year (2024). This was confirmed by the Minister after attending the MoU signing ceremony between WTC Automotif (WTCA) and GAC Motor to locally assemble (CKD) the brand’s Emkoo and GS3 Emzoom SUVs in Malaysia.
YB Anthony Loke mentioned that the EV road tax structure is already at its final stage of development. He also ensured that the tax rate for EVs would not be a burden for the people. The Minister previously said that the new EV road tax will be cheaper than that of a comparable petrol-powered vehicle.
“My commitment is to lower the EV road tax rate so that it will be reasonable for EV buyers. It is the government’s wish to encourage EV adoption in Malaysia in the long run,” said YB Anthony Loke.
The Minister of Transport stated that the EV adoption rate in Malaysia is still low at the moment. However, he remains confident that the EV trend is still upcoming and will grow over time, as more and more carmakers introduce their EV models to the market while offering interesting prices.
RELATED: Malaysia government to begin switch to EVs this year
Just in case you didn’t know, EVs in Malaysia are currently fully exempt from all road tax, sales tax, import duty, and excise duty. First announced back in late 2021 as part of the national budget, the tax exemption period for EVs will be here to stay until the end of 2025, by which a new road tax structure will be put in place.
RELATED: New digital road tax and driving licence – online renewals starting Feb 2024
