Applications For Electric Motorcycle Scheme Scheduled To Start In December

Alex Cheong Pui Yin

30th November 2023 - 2 min read

Eligible Malaysians will be able to begin applying for the Electric Motorcycle Use Promotion Scheme in December this year, offering a direct rebate of up to RM2,400 for the purchase of electric motorcycles. This was announced by Prime Minister Datuk Seri Anwar Ibrahim yesterday, although he has yet to share specific details on where or how to apply.

Introduced during the tabling of Budget 2024, this scheme is intended to encourage the use of electric motorcycles among Malaysians, as the government pushes for the adoption of renewable and sustainable energy sources. It is offered to people with an annual income of RM120,000 and below.

Aside from that, Datuk Seri Anwar also applauded the investment by Tenaga Nasional Bhd, Gentari Sdn Bhd, and Tesla Malaysia to install 180 electric vehicle charging stations across Malaysia. This amounted to more than RM170 million.

These efforts complement the government’s various other ongoing initiatives in transforming Malaysia into a regional leader in the energy transition and renewable energy (RE) industry, including launching the National Energy Transition Roadmap (NETR) in June 2023 to guide the progress of this effort in the long run. It also provided tax relief for the rental, purchase, and installation of electric vehicle (EV) chargers, as well as rolled out a programme for Malaysians to install solar panels in their homes (Net Energy Metering (NEM) programme).

“In line with the NETR, the government is providing an easy financing fund of RM2 billion for the national energy transition plan,” Datuk Seri Anwar also said. For context, the government had allocated RM2 billion as seed fund to finance marginally bankable energy transition projects or those that yield below-market returns (such as EV charging, hydrogen, and carbon capture technologies).

(Source: Malay Mail)

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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