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Prime Minister Datuk Seri Anwar Ibrahim announced during Budget 2025 proceedings that the existing tax incentive has been restructured to align with intention to transition to locally produced electric vehicles (EV).
Malaysian car manufacturer Perodua is planning to produce locally assembled EVs with costs below RM100,000 to meet public demands.
To encourage the use of electric motorcycles, Malaysians who earn RM120,000 or less annually are entitled to rebates of up to RM2,400 for purchase of locally assembled electric motorcycles under the Electric Motorcycle Use Promotion Scheme, with an allocation of RM10 million.
The green initiative is also supplemented by Putrajaya heading towards being a low-carbon city, with 5km of solar panels to be attached on covered pedestrian walkways, as well as in parking lots for energy efficiency.
Furthermore, a carbon tax will be imposed on the iron and steel industry ahead of 2026 to finance research programs and green technology.
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