Malaysia Automotive Institute (MAI) CEO Madani Sahari told the Malay-language daily that the revision of the National Automotive Policy (NAP), which is due to be presented this December, already includes long-term plans for the automotive industry and so there was no need for government Budget announcements in that area.
A Budget is a one-year plan, but the NAP takes the long term into account and so any incentives that are offered will continue for a longer period of time to ensure strong industry growth, he said.
“(Translated) Given that hybrid vehicle incentives are set to expire at the end of this year, the NAP must be announced this year. I expect the government will (announce the NAP) early this December,” Madani told Utusan.
“(Translated) Therefore, the NAP will involve the continuation of incentives for hybrid and Energy Efficient Vehicles (EEV). The public and industry players do not need to worry about the expiry of hybrid vehicle incentives at year-end.”
Madani added that more favourable incentives would be given for hybrids and EEVs that are assembled locally, whereas imported hybrids and EEVs will be subject to some conditions set by the NAP.
The full import and excise duty exemption for hybrid/electric vehicles first announced in Budget 2011 currently runs up until December 31, 2013. For a sneak peek at the upcoming NAP revision and more information, read our report on our session with the MAI.