Malaysia to impose new rules on imports of electric vehicles assembled overseas from July
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Malaysia had previously granted a full import and excise duty exemption from January 2022 to December 2025 in an effort to encourage the adoption of electric vehicles.
PHOTO: THE BUSINESS TIMES
KUALA LUMPUR - Malaysia’s trade ministry said on May 6 that all imports of electric vehicles assembled overseas will be subject to new regulations starting on July 1, following the expiry of a special tax exemption period.
Imports of electric vehicles fully assembled overseas will be subject to a minimum cost, insurance and freight value of RM200,000 ringgit (S$64,500) and the minimum motor power threshold will be cut to 180 kW from 200 kW, the ministry said in a statement.
The government had previously granted a full import and excise duty exemption from January 2022 to December 2025 in an effort to encourage the adoption of electric vehicles.
The ministry said there will be a grace period so that companies could sell their remaining stock, including those at ports or in transit, under the previous terms. REUTERS
