Budget 2024: govt to boost EV, urges public to accept usage

KUALA LUMPUR - Prime Minister Datuk Seri Anwar Ibrahim today said the government will continue to boost the development of the local electric vehicle (EV) industry and encourage the acceptance of EV use.

He said the government welcomed the RM170 million investment by companies such as Tenaga Nasional Bhd (TNB), Gentari and Tesla Malaysia to install 180 EV charging stations.

To encourage the use of electric motorcycles, the government will introduce the Electric Motorcycle Usage Incentive Scheme for those with an annual income of RM120,000 and below, and with a rebate of up to RM2,400 under the scheme.

"To support the needs of the LRT3 project, Prasarana Malaysia Bhd has agreed to acquire 150 electric buses and build three bus depots at a cost of RM600 million," said Anwar in his Budget 2024 presentation speech in the Dewan Rakyat today.

The government also plans to extend individual income tax relief up to RM2,500 for EV charging facility expenses for four years and tax deductions for EV rental costs for another two years.

Meanwhile, efforts to encourage the installation of solar panels will also be enhanced.

Anwar said the government is ready to extend the offer period under the Net Energy Metering (NEM) programme until Dec 31, 2024 to encourage solar panel installation in houses.

According to the prime minister, the government is also developing a solar buyback programme from roofs of buildings with minimal cost implications.

At the same time, the government is calling on companies to offer a "zero capital cost" subscription model such as that offered by Gentari for houses, he said.

Anwar also said Putrajaya will be used as a model for Malaysia's low-carbon city.

The government will start installing solar panels on the roof of government buildings in collaboration with TNB and Gentari.

The Federal Administration will also start using electric vehicles as official vehicles," he added. - Bernama, October 13, 2023