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Extension of Tax Incentives to support the Development of Electric Vehicle Industry

Updated: Mar 12

To Download the Revised Budget 2023 Speech and some other related publications -

Current Position

In Budget 2022, to support the development of the Electric Vehicle (EV) industry and encourage domestic demand in line with the Low Carbon Mobility Blueprint – LCMB, EV Roadmap and National Automotive Policy – (NAP) 2020, tax exemptions for EVs consist of passenger vehicles (including SUV and MPV), commercial vehicles and motorcycles are given as follows:


To spur domestic demand and encourage the growth of locally assembled EV activity, it is proposed tax incentives for EVs be extended as follows: