Are all EV prices going to rise from today? Here’s what the new price rules on ‘fully imported’ EVs mean for the industry

KUALA LUMPUR, July 1 – Starting today, the Malaysian EV landscape is set to undergo a significant transformation following the implementation of new rules by the Ministry of Investment, Trade and Industry that set a minimum cost price for imported EVs

These changes are aimed at encouraging more global manufacturers to establish local assembly operations, shifting the focus away from affordable imported models.

With the introduction of a minimum cost, insurance and freight value of RM200,000 per imported EV unit, fully imported electric vehicles are expected to see a significant price increase.

The new rule also requires imported EVs to have a minimum power output of 180 kilowatts (or 245 horsepower).

However, vehicles that are already in the country, at local ports or in transit before July 1 can continue to be sold under the previous framework.

This new policy is expected to have an impact on the availability of lower-cost imported models in the mass market, making them less accessible to the average consumer.

Importantly, this rule applies only to cars that are fully imported.

Brands like BYD, Chery, Jaecoo, BMW and Mercedes-Benz that already have assembly plants in Malaysia, referred to as CKD (Completely Knocked Down) operations, are exempt from this new regulation, allowing them to continue offering more competitively priced models.

The tax exemption for the locally assembled EV will continue until December 31, 2027.

The government’s goal with these regulations is to foster local assembly practices, ultimately helping to boost Malaysia’s automotive industry and reduce reliance on fully imported vehicles.

Based on recent data, there are currently over 90 EV models from various brands available in Malaysia.

As the market adjusts to the new regulations, here are some of the brands offering EV models in the crowded Malaysian market:

1. Proton

• Origin: Malaysia
• Proton is expanding its lineup with EVs, focusing on homegrown models including Proton eMas 7 and eMas 5.

2. Perodua

• Origin: Malaysia
• Perodua is also venturing into the EV market with its QV-E model.

3. Tesla

• Origin: United States
• Tesla is renowned for its high-performance electric cars, including the Model 3, Model S, and Model X.

4. BMW

• Origin: Germany
• The German automaker offers the BMW i3 and iX in the Malaysian market.

5. Audi

• Origin: Germany
• Audi’s e-tron and e-tron Sportback offer a premium EV option.

6. Mercedes-Benz

• Origin: Germany
• The EQ series, particularly EQA and EQB, is among the brand’s EVs in Malaysia.  

7. Nissan

• Origin: Japan
• The Nissan Leaf is a five-seater EV hatchback.

8. Hyundai

• Origin: South Korea
• Available models include the Hyundai Kona Electric and Hyundai Ioniq Electric.

9. Kia

• Origin: South Korea
• Kia’s e-Niro and EV6 are gaining attention for their stylish designs.

10. Porsche

• Origin: Germany
• The Porsche Taycan stands out for its combination of luxury and sports car performance in the electric segment.

11. BYD

• Origin: China
• BYD is making waves in the Malaysian market with its range of electric models, including the BYD Atto 3.

12. Geely (Smart)

• Origin: China
• Geely, through its Smart brand, offers models like the Smart #1, focusing on compact and energy-efficient designs.

13. Zeekr

• Origin: China
• Zeekr is a high-end EV brand focused on luxury and performance, offering models like the Zeekr 001.

14. Denza

• Origin: China
• A collaboration between BYD and Daimler, Denza aims at producing premium electric vehicles like the Denza D9.

15. Great Wall Motors (GWM)

• Origin: China
• GWM offers electric models alongside its conventional vehicles, focusing on affordable options for entry-level consumers.

16. Jetour

• Origin: China
• Jetour’s electric models are part of its expanding range, appealing to budget-conscious buyers.

17. MG (Morris Garages)

• Origin: United Kingdom/China
• MG has entered the EV market with models such as the MG ZS EV, offering a blend of style and affordability.

18. Jaecoo

• Origin: China
• Jaecoo offers premium SUVs ranging from J5 to J8.

19. Dongfeng

• Origin: China
• Dongfeng currently focuses on its Vigo and 007 models in Malaysia.

20. Chery

• Origin: China
• Chery is known for its range of EVs, including models like the Chery EQ1. The brand also has two CKD facilities in Malaysia.