Acknowledging the cost barrier hindering widespread EV adoption, Minister of Investment, Trade and Industry (MITI) Deputy Minister Liew Chin Tong outlined a comprehensive strategy to incentivise EV ownership. Central to this initiative is the proposed One-Time Subsidy, tabled during a recent NEVSC meeting.
“The provision of this One-Time Subsidy is expected to encourage people to switch from using ICE vehicles to EVs, thereby helping the country reduce petrol subsidies in the long term.” Chin Tong said.
The revelation of the proposal came out as a response to concerns raised by Kuala Kangsa MP Datuk Iskandar Dzulkarnain regarding the affordability of electric vehicles (EVs) for the M40 group.
Under the proposed subsidy scheme, individuals considering EV ownership would benefit from financial assistance, easing the burden of initial purchase costs and facilitating broader access to environmentally friendly transportation solutions.
This measure underscores the government’s commitment to fostering a greener, more sustainable future while empowering individuals from all economic backgrounds to embrace EV technology.
As discussions continue within the NEVSC framework, the proposed One-Time Subsidy stands as a promising step toward realizing Malaysia’s vision of widespread EV adoption, ensuring that the benefits of clean energy mobility are accessible to all segments of society.
