The xEV sales in Malaysia increased by 30.4% in 2024, accounting for 5% of the total registered passenger cars
AshleyFeb 27, 2025, 03:41 PM
【PCauto】In 2024, Malaysia's electric vehicle (xEV) market experienced a remarkable surge. According to data released by the Ministry of Investment, Trade and Industry (MITI), xEV sales grew by an impressive 30.4%, elevating their market share among newly registered passenger vehicles to 5%—which translates to 46,239 xEVs on the roads.
Among these, battery electric vehicles (BEV) passenger cars witnessed the most striking growth. In 2023, only 256 BEVs were in circulation, but by 2024 that number skyrocketed to 38,369, a truly astonishing leap. Given this rapid two-year expansion, the government is optimistic about the future of xEVs, projecting that by 2030 there will be at least 400,000 xEVs on Malaysia’s roads, encompassing both passenger and commercial vehicles.
To further accelerate xEV adoption, the government has established ambitious targets: by 2030, xEVs should account for 20% of total annual vehicle sales; this share is slated to increase to 50% by 2040 and to a commanding 80% by 2050.
On the infrastructure front, as of December 31, 2024, the nation boasted 3,611 public EV charging stations, featuring 1,095 DC chargers and 2,516 AC chargers. The government plans to significantly expand this network by 2025, aiming for 10,000 public EV charging facilities—8,500 of which will be AC chargers and 1,500 DC chargers.
To further support BEV growth, a range of attractive incentives has been introduced. For instance, imported completely built-up (CBU) electric vehicles will be exempt from both import duties and excise taxes until December 31, 2025, while locally manufactured BEVs will enjoy full exemptions from import duties, excise taxes, and sales taxes. Moreover, starting in mid-2025, a targeted subsidy for RON95 gasoline is set to encourage a market shift toward xEVs.
With the government’s proactive push and comprehensive policy support, Malaysia's electric vehicle industry is poised for rapid acceleration in the years ahead.
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