But BEVs, which enjoy tax exemption up to 2027 for locally-assembled completely knocked down units, may still find their audience among the populace, according to Kenanga Research. The research hosue said BEV adoption would eventually pick up and demand for ICE vehicles could potentially peak in the longer term. “New registrations of BEVs leapt from 274 units in 2021 to 44,800 units in 2025, or 5.5% of the total industry volumes at last count,” it said. “For example, Sime Darby Bhd is focusing on its better-margin industrials at 7% compared with 1% for its auto segment. “On the other hand, Hong Leong Industries Bhd is focusing on higher-margin premium motorcycles segment which has solid demand,” it said.

Source: The Star March 17, 2026 00:25 UTC