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Malaysian automaker Perodua debuts first EV, priced at $19k
Perodua has launched its first EV, the QV-E, in Malaysia with a starting price of 80,000 ringgit (US$19,360), excluding the battery.
The company, formally known as Perusahaan Otomobil Kedua Sdn and partly owned by UMW Holdings (a unit of Sime Darby Bhd), Daihatsu Motor Co., and Mitsui & Co., will lease the battery separately to lower initial costs for buyers.
The QV-E uses a lithium iron phosphate battery that offers up to 445 kilometers of range, under a battery-as-a-service model.
Perodua invested 800 million ringgit (US$193.6 million) in developing the vehicle and will manufacture it at its newest facility, aiming for an initial output of 500 units per month, and a goal of ramping up to 3,000 units per month by Q3 2026.
Perodua is the second Malaysian automaker to introduce an EV, following Proton’s announcement of its EV brand and the e.MAS 5, its cheapest model, in 2024.
Malaysia recorded 40,679 EV registrations in the first 10 months of 2025, up from 28,048 in all of 2024.
🔗 Source: Bloomberg
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Perodua battery lease continues after loan
- The Malaysian outlet SAYS puts the QV-E pack at RM275 a month (RM297 with Malaysia’s 8% Sales and Service Tax (SST)) and says billing continues after the loan is fully paid, so fees run beyond the financing period (loan tenure) 1.
- For now, the QV-E cannot be bought outright; buyers must sign a 9-year Battery-as-a-Service (BaaS) contract 2.
- Perodua keeps ownership of the high-voltage battery and gives a lifetime warranty for it 2.
- An example from SAYS shows a monthly total near RM1,185 for a nine-year plan (RM910 car instalment + RM275 pack fee), with both bundled into one payment 1.
Malaysia EV incentives and charging buildout
- Full import and excise duty exemptions for imported Completely Built-Up (CBU) EVs run until 31 Dec 2025, while domestic EVs keep them until 31 Dec 2027 3.
- Charging Point Operators (CPOs), companies that build and operate public chargers, get a 100% Green Investment Tax Allowance for five years 4. EV charging equipment makers receive full income tax exemption from 2023 to 2032 4.
- There were 2,585 charging stations in service by June 2024, versus a 10,000 target by 2025 5.
- Petronas’ unit Gentari (its clean energy arm) and Tenaga Nasional Bhd (Malaysia’s national electric utility) spent about RM76 million on charging expansion up to June 2024 4.
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