FLEETDRIVE war, but smaller companies reliant on single brands may struggle even more.
“ While foreign direct investment is a key target for the government, it’ s important to review the situation to ensure that local assembly or CKD brands with their own factories and vendor networks can remain competitive,” Abdullah said.
Despite the ongoing price war, Malaysia’ s local carmakers, Proton and Perodua dominate the domestic market and have produced their own
EV models. Proton’ s eMAS7, Malaysia’ s first EV, publicly debuted last December 2024. The vehicle has received an impressive 5-star review from the ASEAN New Car Assessment Program( NCAP). Meanwhile, competitor Perodua confirmed that its own EV is set to launch at the end of 2025 with test drives beginning in June. The vehicle, AKA the eMO-II, was recently displayed at the Kuala Lumpur International Mobility Show( KLIMS) 2024.
SINGAPORE A singular island situated in the heart of Southeast Asia, Singapore’ s size is often underestimated. Many would be surprised to find that BloombergNEF predicted that Singapore would be the nation to dominate SEA’ s passenger EV market by the year 2040. This prediction is supported by the city-state’ s many efforts to encourage its citizens to transition to EVs from ICE vehicles. As of January 1, 2025, registrations of new diesel engine vehicles have been banned and a goal of clean-energy models comprising 100 per cent of new car registrations was set.
Like its regional neighbours, Singapore also has an environmental goal to reduce carbon emissions by 2025 and have all vehicles be lowemission or clean-energy by 2030. Thus, the country’ s Land Transport Authority( LTA) began the EV Early Adoption Initiative( EEAI) in 2021.
Initially set to end in 2023, the LTA announced that the incentive will be extended to December 31, 2025. Under this initiative, owners of new passenger and taxi EVs who register their vehicles receive rebates up to 45 per cent off on additional registration fees.
Though the initiative was extended, the LTA decided to keep its rebate rate progressive. The EEAI’ s maximum rebate was up to SGD 20,000( AUD 24,586) in 2024 but has since been lowered to SGD 15,000( AUD 18,439).
Similar to the EEAI is the Enhanced Vehicular Emissions Scheme( VES) under the authority of Singapore’ s National Environment Agency( NEA). The VES originally began in 2018 and ended in 2020. An enhanced version of the programme and extension began in 2021 and will end by December 31, 2025.
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