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Malaysia wants EVs to be tax-free, duty-free to encourage consumers to buy

Teslarati

During his address to Parliament earlier this week, Malaysian finance minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz cited the reduction of pollutants and better air quality as the main indicators of why electric cars are a good idea. The current market for electric vehicles in Malaysia is small.

Malaysia 145
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Southeast Asia market will become a competitive place for Chinese and Japanese car companies

Setec Powerr

And there is also a 150,000 baht (equal to more than 27,000 yuan) subsidy for each pure electric vehicle purchase. million electric vehicle users by 2025 to stimulate market demand and reduce air pollution. In addition, the tax rate for pure electric vehicles in Thailand was reduced from 8% to 2% in June this year.

Asia 97
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Nearly one in five cars sold worldwide in 2023 was electric: IEA | Autocar Professional

Baua Electric

Increasing electric car sales were the main reason for growth in the overall car market, which contracted by 8% for conventional (internal combustion engine) cars but grew by 5% in total, indicating that EV sales are continuing to perform as the market matures. Around 2% of all cars sold were electric.