Budget 2024: Govt to continue boosting electric vehicles development
SINAR DAILY REPORTER
SHAH ALAM - The government will continue to boost the development of the local electric vehicle (EV) industry and encourage people's acceptance of EV use.
Finance Minister Datuk Seri Anwar Ibrahim said the government welcomed investments of more than RM170 million by leading companies such as Tenaga Nasional Berhad (TNB), Gentari, and Tesla Malaysia to install 180 EV charging stations.
“To encourage the use of electric motorcycles, the government is introducing the Electric Motorcycle Usage Incentive scheme for individuals with annual incomes of RM120,000 or less which will provide rebates of up to RM2,400 ringgit to buyers.
“To support the needs of the LRT3 project, Prasarana Malaysia Berhad has agreed to acquire 150 electric buses and build three bus depots at a cost of RM600 million,” he said when tabling the Madani Malaysia Budget 2024.
Anwar said the government planned to extend the income tax relief for individuals who spent for EV charging facilities of RM2,500 and above for an additional four years, as well as provide tax deductions for EV rental costs for another two years.
