The application process for the Electric Motorcycle Use Promotion Scheme, aimed at encouraging the adoption of electric motorcycles, is set to open for Malaysians in December this year.
Prime Minister Datuk Seri Anwar Ibrahim announced that the scheme targets individuals with an annual income of RM120,000 or less, offering a rebate of up to RM2,400 for eligible buyers. The initiative was introduced in the Budget 2024 presentation, aligning with the government’s commitment to promoting sustainable transportation through incentives.
Anwar highlighted the government’s appreciation for the significant investment of over RM170 million from Tenaga Nasional Bhd (TNB), Gentari Sdn Bhd, and Tesla Malaysia. This investment is intended for the installation of 180 electric vehicle charging stations, further supporting the country’s move towards electric mobility.
Emphasizing the National Energy Transition Roadmap (NETR), Anwar stated that the government has allocated a substantial financing fund of RM2 billion for the national energy transition plan. This financial support aims to facilitate a smoother transition to cleaner energy sources.
In terms of investment priorities, the Prime Minister outlined a focus on the ‘high growth high value’ sector. The government plans to implement a results-based incentive approach using a ‘tiering’ system. An initial step involves offering reinvestment tax incentives through investment tax allowances, ranging from 70 to 100 percent.
To create a broader ecosystem for the electrical and electronics (E&E) cluster in the northern region, Anwar announced the establishment of a high-tech industrial area in Kerian, northern Perak. This move is expected to stimulate both foreign direct investment (FDI) and domestic direct investment (DDI). Additionally, the Investment and Trade Coordination Action Committee (JTPPP) has been formed to facilitate and oversee investment approvals, reporting directly to the National Investment Council.
These initiatives reflect Malaysia’s commitment to embracing sustainable practices, fostering economic growth, and positioning itself as a leader in the transition to electric vehicles and clean energy.
Source – Bernama