Malaysia studies targeted EV incentives for Budget 2027
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The Malaysian government is studying targeted incentives to make electric vehicles more affordable, with decisions expected through Budget 2027. Transport Minister Anthony Loke said the approach will look beyond purchase price to the total cost of ownership.
The Malaysian government is studying targeted incentives to widen EV adoption, according to Transport Minister Anthony Loke.
In a written parliamentary reply dated 2 November 2026, Loke said the ministry is looking at measures that could make EV ownership more affordable for a wider group of Malaysians. He said the assessment will consider the total cost of ownership and usage, not just the vehicle’s purchase price.
The minister said any final decision will depend on fiscal feasibility and policy effectiveness, and that details will be announced through Budget 2027.
The measures being studied include incentives for affordable EVs, support for locally assembled CKD EVs, and assistance for charging facilities and public charging network expansion. Loke also said the EV policy is separate from targeted RON95 fuel subsidy rationalisation.
What it means for you: EV buyers and workshops should watch Budget 2027 for possible new support, especially for affordable models, CKD units and charging-related incentives.
Source: SoyaCincau
