Details regarding the new electric motorcycle incentive scheme will be announced on 8 December. This was revealed by the Minister of Investment, Trade, and Industry, Tengku Zafrul Aziz following the launch of Smart #1 yesterday.
A move to boost the adoption of electric motorcycles in Malaysia
The incentive scheme was originally announced by Prime Minister Anwar Ibrahim during the tabling of Budget 2024 last month. The move is meant to boost the usage of electric vehicles in Malaysia and is generally in line with the National Energy Transition Roadmap (NETR).
According to NETR, the government has aimed to increase the share of electric two-wheelers on Malaysian roads to 80% by 2050. It has also assigned the Ministry of Investment, Trade, and Industry (MITI) to spearhead the effort.
General eligibility of the electric motorcycle rebate scheme
Through the new scheme, eligible individuals will be able to purchase an electric motorcycle with a rebate of up to RM2,400. To obtain the rebate, your annual income must be less than RM120,000.
In other words, you will be eligible for the RM2,400 rebate if your monthly salary is less than RM10,000.
In general, we foresee that the rebate will be able to help electric motorcycle brands convince consumers to purchase their products. This is especially true given the fact that pricing is one of the biggest hurdles when it comes to electric motorcycle adoption at the moment.
While the RM2,400 rebate may give electric motorcycles a little bit more breathing space against traditional motorcycles, the rebate mechanism needs to be simple and consumer-friendly. If it involves filling up layers of application forms, then it could become a hurdle instead.
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