Overview of Malaysia Electric Vehicle Industry and Market Size: Ken Research

The electric vehicle market in Malaysia recorded a negative CAGR of ~xx% on the basis of revenue in between 2016 and 2021. The slowdown in growth is attributed to the lack of domestic manufacturers in the ecosystem, resulting in imports of these vehicles which ultimately, shoots up the price of EVs. Coupled with that, the advent of COVID-19 also impacted the EV market due to consumer's financial constraints and job losses. The electric vehicle market in Malaysia is heavily dependent on international manufacturers as national brands such as Proton and Perodua have not been able to establish its presence in the EV market as of 2021. However, consumers increasing awareness on environmental hazards along with favorable government initiatives such as income tax and sales tax exemptions for purchasing EVs will contribute in the growth of EV four-wheeler market in coming years. Malaysia wants to encourage people to adopt electric vehicles and other fuel-efficient vehicles. The electric vehicle market in Malaysia will witness rapid transformation with the advancement of solid-state battery technology which increases the efficiency of the battery performance. The Malaysian electric vehicle market is still in its early phases of development. The Malaysian government's EV rules and the continued introduction of new models contribute to the country's EV market growth.

Along with being noisy, the mushrooming number of conventional cars, motorcycles and scooters is driving up energy consumption, air pollution and greenhouse gas emissions. To combat those problems, Malaysia, with support from the United Nations Environment Programme (UNEP), is encouraging drivers to trade in gas-guzzlers for electric motorbikes.

UNEP has worked with electric vehicle associations in Malaysia, the Philippines, Singapore and Thailand to develop comprehensive recommendations for policymakers to spur the adoption of electric two- and three-wheelers. The incentives announced in Budget 2022 are expected to kick start EV adoption among the general public and the plans for government fleet electrification will further pave the way to instill public confidence and interest.

In Malaysia, the launch of the National Low Carbon Cities 2030 plan, entails the establishment of 200 low carbon zones across the country, which may bring about a greater push for green vehicle options, including EVs.

Malaysia Electric Vehicle Market Segmentation, 2021

By Type of Electric Vehicle (4-Wheeler and 2-Wheeler):

In 2021, Electric 4-Wheelers dominated the Electric Vehicle Market in Malaysia and generated a revenue of USD xx Million. Electric 2-Wheelers helped in contributing xx% of the total Electric Vehicle market in Malaysia generating a revenue of USD xx Million.

By Type of Electric two-wheeler (e-scooter and e-motorcycle):

E-Motorcycle dominated the Electric two-wheeler market in Malaysia by contributing xx% to the total revenue share in 2021. The rise of taxi and delivery services created demand for e-motorcycle

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By Type of E2V Battery Capacity (25Ah):

In 2021, Electric 2-Wheelers using a battery capacity of

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