Tesla Malaysia is set to launch next week, and the official pricing for the Tesla Model Y in the local market has been revealed. According to BusinessToday’s serach on Tesla’s website, the starting price of the fully electric Model Y SUV is at an impressive RM199,000.
This makes it not only cheaper than in Singapore and Thailand but also makes other electric vehicles in the market appear relatively expensive.
In Malaysia, the Tesla Model Y is offered in three versions: a rear-wheel-drive model and two dual-motor all-wheel-drive variants. Here are the official prices:
Rear Wheel Drive – RM199,000
All-Wheel Drive Long Range – RM246,000
All-Wheel Drive Performance – RM288,000
These incoming Tesla models are fully imported and currently benefit from EV incentives, including import and excise duty exemptions, as well as free road tax until the end of 2025.
The government is also working on a road tax formula for EVs, with Transport Minister Anthony Loke stating that the road tax for EVs will be cheaper than that for internal combustion engine vehicles.
The Model Y is available in five colours: Pearl White, Solid Black, Midnight Silver Metallic, Deep Blue, and Red. Only the Pearl White option has no additional cost, while the other four colours require an extra RM5,000.
Bookings for the Model Y are now open online, requiring a non-refundable payment of RM1,000 via card. The total cost, including delivery, number plate, and order fee, for the base rear-wheel-drive Model Y in Pearl White is RM205,700. Taxes and other fees are not included in this amount. On a 5-year loan with a RM20,400 downpayment, the estimated monthly cost is around RM3,420.
It’s worth noting that there may be a wait of at least six months for delivery, as Tesla Malaysia has provided an estimated timeline for early 2024.