January 2022

Infographic Series 1 (Part V) – Electrified Mobility in Malaysia: A Step Forward?

Electric vehicles (“EVs”) are vehicles that operate either partially or fully powered by electricity. EVs are more environmentally friendly as they are generally responsible for lower emissions over their lifetime. Thus, EVs can play a major role in climate change mitigation efforts.

Malaysia, as a signatory to the Paris Agreement, has targeted to reduce its greenhouse gas emissions intensity (against GDP) by 45% by 2030 relative to the 2005 level. The Malaysian Government has been introducing policies to encourage adoption to EVs, however this has been a slow process. Nonetheless, EVs got a big boost in Budget 2022 (recently approved by the Senate (Dewan Negara) on 21 December 2021) which allows EVs to be exempted from import duty, excise duty, and taxes. This infographic sets out the opportunities and challenges for EV adoption in Malaysia.

Subject matters: Environmental
Jurisdictions: Malaysia

Author

Partner
Zaid Ibrahim & Co.
Other Resources

Announcement

On 1 December 2022, KPMG and ZICO Law entered into an agreement under which a number of law firms and teams from the ZICO Law network have joined the KPMG network of firms.

The deal will see more than 275 lawyers join over 2,900 legal professionals in the KPMG global organization, creating a significant legal footprint across Asia. It will offer legal services and solutions, a globally connected legal services platform, and specialists who work with leading technology providers to modernize legal functions across organizations. The strategic combination increases the total number of legal professionals in the KPMG network to close to 3,200 across 84 jurisdictions. You may read the press release here.

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