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Tuesday, June 4, 2024

New road tax rates for EVs starting 2026: Loke

 


Road tax rates for zero-emission vehicles (ZEV) or electric vehicles are set based on the power of the electric motor and it will come into force on Jan 1, 2026, announced Transport Minister Anthony Loke.

He said the new fee is 85 percent lower than the existing rate which aims to encourage people to switch to ZEV.

All fee rates for ZEV will be reviewed at least every five years to ensure effectiveness in achieving the objectives of the transition to ZEV as well as the impact on government revenue, he added.

"The fee rate will increase in line with the increase in electric motor power. The increase in electric motor power will represent an increase in the purchase price, size, segment and weight of the vehicle.

"The new fee rate set only applies to ZEVs in the PBEV (battery electric vehicle) and FCEV (fuel cell electric vehicle) categories," he told a press conference today.

- Bernama

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