Electric vehicles get a tax-free boost

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Finally, Malaysians will be able to afford electric vehicles (EV) and reduce their carbon footprint, via the full tax exemptions for zero-emission cars granted in the 2022 budget proposal tabled last Friday.An automotive industry veteran said he hoped that the tax incentives will lead to EV’s being manufactured and sold for between RM140,000 and RM160,000, prices which the middle-class Malaysians can afford.“The next more complex step is to reduce actual emissions from internal combustion engine cars which will have significant impact on cost for cars, especially the mainstream national cars, Proton and Perodua, and Asean-specific products from the other manufacturers,” he said. With clear and longer-term policies over 10 years, Malaysia should receive a tide of proposals from battery-powered electric vehicle makers from China, South Korea, Europe and Japan.Even more compelling…