Malaysia risks hurting EV push with ‘poorly timed’ levy as foreign investment stalls

Malaysia is considering a levy on electric vehicles (EVs) to fund charging infrastructure, even as export and pricing conditions on high-volume foreign assembly projects have left Chinese giant BYD’s planned 1.3 billion ringgit (US$318 million) factory in limbo. Economists and industry experts warn the two policy moves could raise ownership costs while weakening Malaysia’s appeal as a manufacturing base at a time when regional rivals are competing for EV investment. EV sales more than doubled...

By Iman Muttaqin Yusof