Malaysia Risks Hurting EV Push with 'Poorly Timed' Levy as Foreign Investment Stalls Malaysia's plans to introduce a levy on electric vehicles (EVs) have sent shockwaves through the industry, sparking concerns that the move could undermine the country's efforts to become a major player in the EV market.
The decision appears poorly timed and misguided, especially when regional rivals are vying for investment and market share.
The introduction of the levy is seen as a response to the government's concern over lost tax revenue due to exemptions granted to fully imported EVs between 2022 and 2025.