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Government incentives, rising fuel prices drive Malaysia’s EV sales

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Tan Ai Leng

Tan Ai Leng

Published Tue, Nov 14, 2023 · 05:00 AM
    • The US-based Tesla unveiled the first experience centre in Kuala Lumpur on Oct 19. Many were attracted to the centre to have a sneak peek of the refreshed Model 3.
    • The US-based Tesla unveiled the first experience centre in Kuala Lumpur on Oct 19. Many were attracted to the centre to have a sneak peek of the refreshed Model 3. PHOTO: GOH SENG CHONG

    [KUALA LUMPUR] Electric cars seem to be all the rage in Malaysia these days, if the latest sales figures are any indication.

    According to fresh government data, there were 7,500 electric vehicles (EVs) sold in the first nine months of 2023 – more than double the 3,400 that were sold for the whole of last year. From 2019 to 2021, EV sales were below 300 units a year.

    Generous government incentives, hefty discounts from car dealers and the expectation that fuel costs are only going to go up further are among the main reasons why more drivers are switching to electric.

    MalaysiaElectric vehiclesNet zeroAsean BusinessAsean

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