Malaysia saw a year-on-year surge of 141.85% in electric vehicle (EV) registrations so far this year to 10,663 units, according to the Road Transportation Department.
Malaysia sees a year-on-year surge of 141.85% in electric vehicle (EV) registrations so far this year. (Photo: Reuters/VNA)
Hanoi (VNA) – Malaysia saw a year-on-year surge of 141.85% in electric vehicle (EV) registrations so far this year to 10,663 units, according to the Road Transportation Department.
In June, auto maker BYD took the top two spots with the BYD Seal having 343 units registered followed by the Atto 3 with 290 units registered. They were followed by the Tesla Model Y and Model 3 in the third and fourth places with 289 and 148 units registered, respectively.
For the first six months of the year, BYD and Tesla continued to dominate the top five models with the likes of the BYD Seal, Tesla Model Y, BYD Atto 3, Tesla Model 3 and BYD Dolphin. The other Chinese or Chinese-backed EVs such as the Omoda E5, Smart #1, GWM Ora and MG4 are also gaining traction with each brand having registered over 200 units this year so far.
BYD remains the most popular EV brand with a total of 4,368 units registered in the first half of 2024, followed by Tesla with 3,079 units and BMW with 807 units. Despite having just one model in a single variant, Chery has registered 406 units, followed by Smart with 282 units and GWM Ora with 277 units.
With the ongoing talks of rationalising the RON95 fuel subsidy, it appears that consumers are gravitating slightly towards EVs rather than hybrids. In the past two months, there have been more registrations for battery electric vehicles than petrol hybrids but the gap seems to be smaller in June with 1,899 Hybrids and 1,912 EVs registered.
In June alone, a total of 3.12% of vehicles registered are EVs, while 3.10% are petrol hybrids. Petrol vehicles are still the most popular vehicle type at 86.61%, followed by green diesel at 6.70%.
Currently, the Malaysian government continues to provide tax breaks for fully imported EVs and road tax waivers until the end of 2025. However, affordable fully imported EV options are still limited.
﷽ Automakers Proton and Perodua were tasked to introduce affordable locally assembled EVs by 2025./.
The Ministry of Investment, Trade and Industry (MITI) of Malaysia has presented a proposal for a one-time subsidy for electric vehicle (EV) owners to boost the growth of this industry.
Malaysia aims to attract more electric vehicle (EV) manufacturers as it is striving to establish itself as an EV manufacturing hub for the Association of Southeast Asian Nations (ASEAN), an official has said.
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Indonesian Ambassador Rina P. Soemarno, who currently serves as Chair of the ASEAN Committee in Prague, emphasised the spirit of regional solidarity and cooperation, and the importance of enhancing ASEAN–Czech Republic relations.
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Vietnamese Ambassador to Israel Ly Duc Trung emphasised ASEAN’s central role in regional mechanisms such as the ASEAN Regional Forum (ARF) and the East Asia Summit (EAS), highlighting its significant contribution to promoting peace, stability, and prosperity in Southeast Asia.
The consumer index of the University of the Thai Chamber of Commerce (UTCC), fell to 51.7 in July from 52.7 in the previous month. The sluggish economy and the trade war, as well as high living costs, continue to undermine confidence, the university said.
Deputy Speaker of the Hungarian National Assembly Istvan Jakab expressed his hope for further deepening Hungary’s ties with ASEAN countries and called for their support for Hungary’s accession to the Treaty of Amity and Cooperation in Southeast Asia.
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Indonesia’s waste generation is projected to exceed 50 million tonnes in 2025. Of the total, more than 20 million tonnes could potentially enter the ocean through rivers, coastal areas, small islands, ports, and marine activities, and thereby, pose a risk to coastal ecosystems and marine biota.
Indonesia is accelerating plans to increase lithium imports, particularly from Australia, in a bid to fill gaps in the electric vehicle (EV) battery supply chain and realise its ambition of becoming a global EV manufacturing hub.
Malaysia’s gross expenditure on R&D (GERD) reached 1.01% of gross domestic product in 2022, a notable increase, with more than 51% contributed by the industry sector. The country is targeting GERD to reach 2.5% by 2030, in line with the national goal of transforming into a high-technology nation.
The facility was established in response to a growing shift in the Filipino labour force from the Middle East to Japan, where workers are seeking safer working environments.
In the latest Indonesia-US trade agreement in July, the US administration agreed to reduce the reciprocal tariff, which was initially set at 32% by US President Donald Trump last April, to 19%.
Real estate agency ERA Singapore estimated that there are 2,703 condo developments in Singapore today, of which 836 or 31% are at least 30 years old. In 10 years, this number is expected to climb to 1,160, assuming none is sold en bloc.
The new framework is designed to ensure that incoming investments deliver tangible national benefits, such as the creation of high-quality jobs for Malaysians and the development of local company ecosystems and technologies.
Singapore led with a total of 8.8 billion USD in realised investment, followed by Hong Kong and mainland China, Malaysia, and Japan with 8 billion USD, 1.7 billion USD and 1.6 billion USD, respectively.
Thai Acting Prime Minister Phumtham Wechayachai on August 7 outlined his strategy for tackling drug problems in Thailand, aiming for a "Zero Drugs Thailand" within three months.
The US has described Malaysia's role as Chair of the Association of Southeast Asian Nations (ASEAN) as vital in helping ease tension between Thailand and Cambodia.
