MARii Praises 2024 Budget - Electric Motorcycle Adoption Incentive

Prime Minister Dato' Seri Anwar Ibrahim's presentation of the 2024 Budget is welcomed by the Malaysian Automotive, Robotics, and IoT Institute (MARii). Up until December 2024, 10,000 potential electric motorcycle buyers with incomes below RM120,000 would be eligible for an RM2,400 reimbursement under the government's Electric Motorcycle Adoption Incentive Scheme, which is in line with the National Automotive Policy (2020).

Through the promotion of local EV technology and business growth, this effort, with funding of RM24.1 million, aims to pique public interest in electric vehicles beyond automobiles. By providing innovative technology to individuals and advancing the MADANI Economy, it helps Malaysia reach its 2050 goal of having no carbon emissions.

Azrul Reza Aziz, CEO of MARii, praises this budget as a great development for local EV technology and industry. The programme is anticipated to increase the use of electric motorcycles, supporting the government's goal of a 15% market share for EV motorcycle sales by 2030.

By utilising current ecosystems, R&D, infrastructure, and government support, MARii additionally encourages the production of electric and autonomous vehicles, establishing Malaysia as an EV hub. The construction of industry excellence centres and cooperation with important players improve the automotive ecosystem even further.

The government's dedication to bolstering Malaysia's automotive industry is emphasised in the 2024 MADANI Budget. Together, MITI and MARii will keep empowering the populace and the economy.