CEO Morning Brief

Apply for Electric Motorcycle Scheme From December, Says PM

Publish date: Thu, 30 Nov 2023, 08:50 AM
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TheEdge CEO Morning Brief
Photo by Zahid Izzani/The Edge

KUALA LUMPUR (Nov 29): Applications for the Electric Motorcycle Use Promotion Scheme to encourage the use of electric motorcycles will be opened to Malaysians in December this year.

Prime Minister Datuk Seri Anwar Ibrahim said this scheme is open to people with an annual income of RM120,000 and below, with a rebate of up to RM2,400 per buyer.

In the Budget 2024 presentation, the government introduced the Electric Motorcycle Use Promotion Scheme, with a rebate of up to RM2,400, to help users switch to electric motorcycles.

Anwar said that the government welcomes the investment of more than RM170 million by Tenaga Nasional Bhd, Gentari Sdn Bhd and Tesla Malaysia to install 180 electric vehicle charging stations.

"In line with the National Energy Transition Roadmap, the government is providing an easy financing fund of RM2 billion for the national energy transition plan," he said when presenting the Supply Bill 2024 for the second reading in the Dewan Negara on Wednesday.

In terms of investment priorities, he said focus will also given to the high-growth, high value sectors, while a results-based incentive approach using a tiering system would be implemented.

"To begin with, reinvestment tax incentives in a 'tiering' manner will be given in the form of investment tax allowances of 70% or 100%,” he added.

The prime minister said in order to build a wider ecosystem for the electrical and electronics cluster in the northern region of Peninsular Malaysia, a high-tech industrial area in Kerian, Perak will be opened.

"To facilitate foreign direct investment and domestic direct investment, the Investment and Trade Coordination Action Committee has been established, and will report directly to the National Investment Council," he added.

For more Parliament stories, click here.

Source: TheEdge - 30 Nov 2023

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