Malaysia lags behind ASEAN on EV incentives – report
20 February 2021 3:46 pm / 93 comments
It’s no secret that Malaysia has dragged its feet in stimulating the public’s adoption of electric vehicles, and this was highlighted in a damning analysis report by Maybank Investment Bank Research. The article showed just how far the country has fallen behind its Southeast Asian peers, despite having initially led the race for green vehicles in the early 2010s.
The bank’s research arm said that Malaysia’s roadmap for the future of its automotive industry, the National Automotive Policy (NAP) 2020, lacks definition. Delayed for several months, the plan debuted in the final days of the previous Pakatan Harapan administration; notably, it did not provide specifics regarding any incentives for industry players, nor any concrete details on the then-nascent New National Car Project (NNCP), which has now gone silent.