QUOTE(N9484640 @ Sep 18 2022, 11:30 PM)
KUALA LUMPUR, Sept 18 — Automotive players are hoping for an extension of tax breaks for electric vehicles (EVs) in the upcoming Budget 2023.
Malaysia Automotive Association (MAA) president Datuk Aishah Ahmad said the association is appreciative of the government’s effort to support the EV market but to end some the current incentives in 2023 is too early.
“We seek extension of full import and excise tax exemption for completely built-up units (CBU) EVs while the market is preparing for the growth of EVs in Malaysia.
“We hope there will be incentives for up to 10 years,” she told Bernama.
She said while efforts for locally assembled completely knocked-down (CKD) EVs may be on progress, EVs sales figure from CBU units have started to climb this year as Budget 2022 incentives kicked in.
Only 274 units of new EVs were registered in 2021, from total industry volume (TIV) of 508,911 units.
Budget 2022 offered 100 per cent exemption of import and excise duties as well as zero road tax for CBU EVs up to December 31, 2023, and 100 per cent duty exemption for CKD EVs up to December 31, 2025. — Bernama
🙏🏻🙏🏻🙏🏻 praying hard....
Proton is the first to ask for their Smart #1.
The request is justified, I think, since chips shortages and parts shortage are real problem STILL
Looking at Thailand, theirs is until 2025...So more justification.
But it is a double edged sword, to put a more relaxed deadline, adoption will also becomes slower. So if I am the government, which I am not, I will ssy "wait-lah, come on , it is now still 2022, wait for my budget announcement, and my election announcement and vote me in again, and I promise you (to deliver) the goodies you are asking for.
What I don't understand is if Malaysia can be so decisive and emulate Germany and becomes among the first to introduce feed in tariff in our region , and stay passing it through to consumer like me and you ( we are still paying a thing called KWTBB every month in our TNB bills), they have no reason to drag their feet in making targetted petrol subsidies and removed it for those that don't deserve it.
Only when fuel subsidy is a thing of the gradual phase out, will really trigger faster EV adoption...It has happened many times in other economies around the world.
Even if it is only the T20 group not getting subsidies and must fully embrace EVs to avoid the pinch, it is already a great start because T20 alone is 20% of the population.
And our neighbour has certainly done it.
https://www.indonesia-investments.com/news/...lation/item9543Every one kicking and screaming but to face a big jump and such bigger dent in government budget is also no good for the country. FYI, Indonesia is also an oil producing country.
Maybe their leaders are popular, and ours are not, theirs know their future depends on capturing the future needs fast and transforming themselves, ours are still in comparison wanted to stay mostly the same way.
But I got news for you. You can't stop the world from changing. And you are part of the world because there is only one world.
This post has been edited by EnergyAnalyst: Sep 19 2022, 09:03 AM