The number of electric vehicle registrations in Malaysia increased by 64% in 2024, with 4 out of every 10 EVs being BYDs. The latest data from JPJ shows that 21,789 EVs were registered in 2024, marking a significant 63.81% growth compared to the 13,301 units registered in 2023.
By the year 2024, electric vehicles made up 2.54% of the total vehicle registrations in Malaysia, with BYD being the brand of choice for 4 out of every 10 EV owners.
In Malaysia, BYD holds the largest market share in the electric vehicle industry at 39.33%, with a total of 8,570 units sold. Following behind BYD is Tesla with a market share of 23.58% (5,137 units) and BMW Group (BMW + Mini) with 11.98% (2,612 units). Other competitors in the market each have less than 3% market share.
In 2024, GWM had the highest number of registrations with 615, followed closely by Pro-Net’s Smart with 603 registrations. MG, Volvo, Cherry, and Mercedes-Benz also had significant numbers of registrations with 592, 583, 553, and 496 respectively.
Even though Zeekr was only launched in December, it was able to secure a spot on the Top 20 list with 75 units registered.
The most popular electric vehicle model in Malaysia for 2024 is the BYD Atto 3, with 2,969 units registered. Following closely behind are the BYD Seal with 2,958 units, Tesla Model 3 with 2,824 units, Tesla Model Y with 2,300 units, BYD Dolphin with 1,431 units, and BYD Sealion 7 with 641 units.
The GWM Ora 07 and Good Cat (JPJ combines both data) have a total of 615 registrations, while the Smart #1 and #3 (combined) have 602 units registered. SAIC's MG4 had 519 registrations for the entire year.
In the high-end electric vehicle market, BMW remains at the forefront with the BMW i5 selling 478 units, and the BMW iX2 following closely behind with 477 units.
At the same time, the Xpeng G6, which was recently introduced locally in August, has already received 396 registrations.
The top 30 electric vehicles in Malaysia for December 2024 saw a total of 2,581 units registered, with BYD taking the lead in the top four spots. The most popular EV last month was the BYD Sealion 7 with 513 units, followed by the BYD Seal with 294 units, BYD M6 with 231 units, and BYD Atto 3 with 220 units. Tesla also made the list with the Model 3 having 157 units and the Model Y with 155 units.
The XPeng G6 is still in the top 10 list with 131 units sold, while the BMW iX2 follows closely with 78 units sold. The GWM Ora Good Cat/07 and MG4 also made it to the list with 60 and 59 units sold respectively. Surprisingly, the BYD Dolphin dropped to the 17th spot with only 34 units sold.
What will occur after the year 2025?
Electric vehicles have experienced the most significant growth in Malaysia, with a 63.8% increase, followed by hybrid petrol vehicles at 10.4% and petrol vehicles at 3.3%. The diesel and green diesel segments have declined due to the rationalization of diesel subsidies. If the current trend continues, electric vehicles could surpass hybrid petrol vehicle registrations by 2025.
It should be noted that the Proton e.MAS 7 will start delivering cars this year, which is anticipated to boost growth in the market. Perodua has also pledged to release an electric vehicle priced below RM90,000 by the end of the year, although specific information is currently limited.
It is uncertain what will happen to electric vehicle sales in Malaysia after 2025, as the top 7 EV brands, which hold 83.2% of the market share, do not currently produce their vehicles locally. Tax exemptions for imported EVs priced over RM100,000 will expire on December 31, 2025, and tax exemptions for locally assembled EVs will end on December 31, 2027.
Volvo, Mercedes-Benz, and Chery are the only brands that have begun assembling electric vehicles (EVs) in Malaysia. During a recent discussion, BMW Group mentioned that they require long-term certainty and clear guidelines before considering local assembly of BMW EVs in the country.
The name Alexander
In Malaysia, the number of electric vehicle (EV) registrations increased by 64% in 2024, with 4 out of 10 EVs being from the brand BYD. A new QR code system called MyBorderPass allows travelers to clear immigration at Kuala Lumpur International Airport in less than 10 seconds. The Tesla Model Y 2025, named "Juniper," is now open for booking in Malaysia with a starting price of RM195,450 and deliveries set to begin in late April. Sime Motors AutoArena is offering a free solar system with selected pre-owned EVs. The Honor Magic 7 Pro in Malaysia features a Snapdragon 8 Elite processor, a 200MP telephoto camera, and a 5850mAh battery, priced starting from RM4599. The content on this page is copyrighted by SoyaCincau.com Mind Blow Sdn Bhd (1076827-P).