The government will be introducing an electric motorcycle incentive scheme as part of its effort to boost the local electric vehicle (EV) industry. The move was announced by Prime Minister Anwar Ibrahim during the tabling of Budget 2024.
Through the new scheme, the government also hope that it can help increase the acceptance of EVs among the public. The scheme will provide rebates of up to RM2,400 for the public to purchase electric motorcycles.
To be eligible for the scheme, your annual income has to be less than RM120,000. This generally means that you are eligible to obtain the rebate if your salary is less than RM10,000 per month.
Anwar didn’t provide any other details regarding the new electric motorcycle incentive scheme in his Budget 2024 speech though. Nevertheless, the move is in line with what has been mentioned in the National Energy Transition Roadmap (NETR) that was launched in late August.
According to NETR, Malaysia aims to increase the share of electric two-wheelers on the road to 80% by 2050. To achieve that, the roadmap listed several initiatives including incentivising electric two-wheeler purchase or leasing with a focus on B40 households.
The Ministry of Investment, Trade, and Industry (MITI) has been tasked to lead the effort, according to NETR. Given the announcement by the Prime Minister today, we expect the ministry to announce further details regarding the new incentive scheme for electric motorcycles very soon.
