- Increasing government push is likely to boost sales of Electric Vehicles due to exemption of taxes and duties
- Lack of market leaders and ease of entry will act a positive reinforcement for emergence of newer homegrown EV manufacturing companies
- Increasing technological advancement and emergence of Electric Mobility-as-a-Service (EMaaS) will be witness in the EV space
Increasing Government Support and Initiatives:
The Malaysian government, had announced during Budget 2022 that battery electric vehicles (BEVs) will be exempted from both import and excise tax until 2023 for fully-imported vehicles (CBU) and 2025 for locally-assembled (CKD) models.The government is also giving tax income exemption for individuals of up to RM2,500 on the cost of purchase, installation, rent, hire purchase as well as subscription fees for electric vehicle charging facilities. The government has set the goal of making Malaysia a significant participant in the regional electric mobility market, and aims for 100,000 EVs to be on the road in the country by 2030, along with 2,000 electric buses and 125,000 charging stations.
Ease of Market Entry:
There are few electric 2-wheeler and 4-wheeler brands in Malaysia. A new company entering the market can easily establish itself in the market with a better business model and strategy. Companies have incentives to enter the industry, as it is still at a nascent stage and is expected to grow. For example, Honda plans to launch four electric two-wheelers by 2024.
Increasing Technological Advancements:
The major reason for the affordable prices of electric scooters and bikes is the advancement in battery technology. The decline in electric vehicle battery cost has an overall impact on the cost of an electric vehicle. OEMs are investing capital in research and development to further increase the efficiency of the electric battery along with the reducing their cost.
Battery Swapping Technology is pioneering Electric Mobility-as-a-Service (EMaaS) in Malaysia, by developing Smart Swap – a game-changing turnkey solution for a battery-swapping infrastructure for Electric Motorcycles.
Increase in charging infrastructure:
In Malaysia, the launch of the National Low Carbon Cities 2030 plan, entails the establishment of 200 low carbon zones across the country, which may bring about a greater push for green vehicle options, including EVs. Malaysia plans to build 25,000 public charging points and 100,000 private charging points by 2030.
The publication titled “Malaysia Electric Vehicle Market Outlook to 2026: Driven by government initiatives along with the need to curb vehicular emissions, and increasing charging infrastructure” provides a comprehensive analysis of the electric vehicles industry by analyzing historical statistics and corresponding developments in the electric vehicles market. The market growth declined during COVID as manufacturing activities were on halt and the supply chain got disrupted. Given the consolidated structure in the electric vehicle industry, analysts have elaborated on competitive landscape of major electric 2-wheelers and 4-wheelers player on the basis of models launched, product prices, technology type and other operational parameters. The report also covers a snapshot on player’s business model, value chain analysis, growth drivers, Porters 5 forces analysis, impact of COVID-19 and factors governing the future outlook of industry. The report also provides comprehensive insight on the market size and segmentation of the industry. The report highlights the pain points of the electric vehicles industry along with detailed company profiles of major electric 2-wheeler and 4-wheeler brands. The report concludes with projections for future industry market size, market segmentations and analyst take on future market scenario.
Key Segments Covered in Malaysia Electric Vehicles Industry
- By Type of EV
- 4-wheelers
- 2-wheelers
- By Type of Electric 2-wheelers
- Electric scooter
- Electric motorcycle
- By Type of Battery Capacity for electric 2 wheelers
- <25Ah
- >25Ah
- By Battery Technology Type for electric 2 wheelers
- Removable batteries
- Non-removable batteries
- By Voltage Type for electric 2 wheelers
- 24V
- 36V
- 48V
- 60V
- 72V
- By Battery Type for electric 2 wheelers
- Lithium-Ion
- Sealed Lead Acid
- By Brand of EV
- BMW
- Mercedes Benz
- Honda
- Volvo
- Hyundai
- Others
- By Type of EV Technology
- BEV
- HEV
- PHEV
- By EV Class
- Mid-priced
- Luxury
Time Period Captured in the Report:
- Historical Period: 2016-2021
- Forecast Period: 2022F-2026F
Malaysia Electric Vehicles Industry Players
- Electric 2 wheelers
- Eclimo
- Treeletrik
- NIU
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- Electric 4 wheelers
- Honda
- BMW
Mercedes Benz - Volvo
- Hyundai
- Nissan
- Porsche
- Tesla
- KIA
- Mazda
- Audi
Key Topics Covered in the Report
- Ecosystem of Electric Vehicles Industry
- Value Chain Analysis of Electric Vehicles Industry
- Business Models of Major Entities in the Electric Vehicles Industry
- Customer Preferences and Buying Decision Behavior in Electric Vehicles Industry
- Market Size of Electric Vehicles Industry by Transaction Value and Sales Volume
- Market Potential of Malaysia Electric Vehicles Market
- Market Segmentation of Electric Vehicles Industry by type of EV, type of electric 2 wheelers, type of battery capacity, type of battery technology, type of voltage, type of EV class, type of EV technology, by type of brands, by battery type
- Competitive Scenario of the Electric Vehicles Industry
- Issues and Challenges in Electric Vehicles Market
- Trends and Developments in the Electric Vehicles Industry
- Porter’s Five Forces analysis of the Electric Vehicles Industry
- Growth Drivers of Electric Vehicles Industry
- Challenges and Restraints in the Electric Vehicles Industry
- Government Rules and Regulations in the Electric Vehicles Industry
- Impact of Covid-19 and Government Regulations on Electric Vehicles Industry
- Future Market Size of Electric Vehicles Industry by Transaction Value and Sales Volume
- Future Market Segmentation of Electric Vehicles Industry by type of EV, type of electric 2 wheelers, type of battery capacity, type of battery technology, type of voltage, type of EV class, type of EV technology, by type of brands, by battery type
- Industry Speaks
- Analyst Recommendations
- Research Methodology
For more information on the research report, refer to the below link:
Malaysia Electric Vehicle Market Outlook to 2026
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