KUALA LUMPUR: The Investment, Trade and Industry Ministry has yet to receive any official information on whether Chinese electric vehicle (EV) maker BYD will proceed with its planned investment in Tanjung Malim, Perak.
Miti Minister Datuk Seri Johari Abdul Ghani said the ministry had not received any formal notification on whether the company would proceed with the investment under the conditions set by the government.
“Any decision to proceed with, defer or revise its investment plans is a commercial decision for the company,” he said during the question-and-answer session in the Dewan Negara yesterday.
He was responding to Senator Tan Sri Low Kian Chuan, who sought an update on BYD’s proposed assembly plant in Malaysia as an EV manufacturer that has met the localisation requirements to qualify for preferential tax treatment under the completely knocked down (CKD) scheme.
The senator also asked for a list of manufacturers that had begun physical investments in Malaysia, including plant construction.
Johari said the government continued to encourage the local assembly of EVs by offering exemptions on import duty, excise duty and sales tax for CKD vehicles until Dec 31, 2027.
However, he said eligibility for the incentives remained subject to compliance with the Customs Regulations 1988 and other conditions imposed by the government. — Bernama
