MITI Assigns Special Taskforce Specific To EV Policy

Reports have surfaced indicating that the Ministry of International Trade and Industry (MITI) intended to draft a special policy exclusive to electric vehicles (EVs). This new movement was chaired by politician Liew Chin Tong to spearhead the EV industry policy-making process.

Following that, a special taskforce has been arranged to work on said new policy after seeing the ongoing development of the automobile industry.

Deputy Minister of Trade and Industry (MITI) Liew Chin Tong, further commented that the designated team will be doing their deeds by reviewing the manufacturers, importers, and brands to provide wide opportunities to other local firms.

He adds that the aforementioned taskforce duties will include reviewing the second aspect involving charging stations apart from electronic and electrical (E&) networks with EV manufacturers.

During his speech in parliament recently, he also stated that the government requires more time to draft the forthcoming  EV policy. He also observed the aspects of pricing and manufacturing of EVs works in-sync pertaining to competition among companies due to rapid EV transitions.

"Following the progressive changes in the industry, there might be new opportunities in a year or two," the former Executive Director of the Penang Institute said. In the meantime, a thorough EV policy ought to specify when the government will phase out internal combustion engines (ICE), as many nations have already vowed to execute.

The government's decision to exempt EVs from import, excise, and road taxes, announced during the presentation of Budget 2022 also increased the uptake of EVs in the nation although rather a clear-cut policy is required to define many appropriate guidelines.

Source:NST