The investment, trade and industry ministry (MITI) is finalising the New Customised Incentive Mechanism (NCM), Bernama reports. NCM is a vehicle tax and incentive system that’s expected to be fixed, fairer and more transparent than the current Customised Incentives (CI), which have been in place since the National Automotive Policy (NAP) 2014. More on the NCM here.
The initiative will support automotive investments through a clearer tax framework, fairer incentives and stronger ecosystem development, said MITI minister Tengku Datuk Seri Zafrul Abdul Aziz. “These measures, together with efforts to strengthen Malaysia’s e-charging infrastructure, are aimed at keeping policies aligned with global mobility trends and building the ecosystem needed to boost consumer confidence in EVs,” he said in his speech at last night’s iCaur 03 launch.
He also reiterated that MITI and the Malaysia Automotive, Robotics and IoT Institute (MARii) are doing a mid-term review of NAP 2020. “Broadly, the NAP review will cover areas such as reducing petrol dependency and expanding component exports, to ensure Malaysia stays ahead of mobility megatrends,” Zafrul said, adding that the government is focusing not only on volume but on ensuring Malaysians have access to vehicles with advanced powertrains, modern safety features, efficiency and reliability.
“We are positioning Malaysia as a regional hub for innovation and production, where vehicles made here can serve the entire ASEAN and Asian region, and where Malaysian talent contributes to breakthroughs in green mobility,” the MITI minister also said, adding that as this year’s ASEAN Chair, Malaysia is committed to strengthening automotive supply chains, promoting cross-border EV infrastructure and encouraging joint R&D in next-gen tech.
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