KUALA LUMPUR, Oct 13 — Unity government is committed to developing Malaysia’s electric vehicle (EV) development industry and encouraging public adoption of the technology to achieve net zero carbon emission.

Prime Minister Datuk Seri Anwar Ibrahim announced that the government welcomed the investment worth RM170 million from established companies, namely Tenaga Nasional Bhd (TNB), Gentari and Tesla Malaysia, to build 180 EV charging stations.

"For individuals whose income is RM120,000 and below annually, the government has introduced the Encourage Electric Bike Usage Scheme.

"Buyers will be given rebates of up to RM2,400,” he said during the tabling of Budget 2024 in the Dewan Rakyat today.

Additionally, he said that Prasarana Malaysia Bhd has also agreed to build three bus depots valued at RM600 million and obtain 150 electric buses to support the LRT 3 project.

Anwar, who is also the finance minister, pointed out the government’s effort in planning to extend the individual income tax relief up to RM2,500 on EV charging facility expenses for a period of four years.

He added that these individuals would also enjoy tax deductions for EV rental costs for another two years.

The Tambun MP further highlighted that the second Budget announced under his administration will also encourage more panel solar installations.

"The government is ready to extend the offer period of the Net Energy Metering (NEM) program until December 31, 2024 to encourage more people to install panels in residential premises.

"The government is also developing a rooftop solar buyback programme with minimal system cost implications,” he said.

Concurrently, the government is also encouraging companies to offer the "Zero Capital Cost” subscription model similar to what Gentari is offering in its residential home category.