Malaysia EV adoption targets – 15% total sales volume by 2030, 38% by 2040, 10,000 public chargers by 2025

Tengku Datuk Seri Zafrul Tengku Abdul Aziz was present at the launch of the BYD Atto 3 today, and the newly minted minister of international trade and industry (MITI) shared his ministry’s targets in regards to electric vehicles in Malaysia.

“The government strongly supports the EV agenda to ensure a dynamic and more sustainable future for all Malaysians. The National Automotive Policy, or NAP 2020, and Low Carbon Mobility Blueprint outline the government’s direction in the development of the nation’s EV industry,” said Zafrul.

“We are currently committed to driving efforts to attract EV investments and meeting the national target of 15% total industry volume (TIV) for EV and hybrid by 2030 and 38% of TIV by 2040. In terms of charging infrastructure, the goal is to have 10,000 public charging stations by 2025,” he continued.

“To achieve these goals, the national EV taskforce (NEVT) led by MITI and comprising relevant government ministries and agencies are sworn to carry out the permutational EV development practice. To ensure the strategies remain relevant, NEVT will review and implement new ones to promote the healthy EV industry in Malaysia,” he added.

In addition, Zafrul said there will be continued discussions with relevant stakeholders to further grow the EV industry here, which includes attracting investments for local assembly of EVs and promoting aftersales support.

At present, fully-imported (CBU) EVs are exempt from import excise duties until December 31, 2024 following an extension laid out in Budget 2023, while locally-assembled (CKD) EVs are until December 31, 2025.