Malaysia Electric Truck Market

Malaysia Electric Truck Market Overview:

The Malaysia electric truck market size reached USD 2.56 Million in 2024. The market is projected to reach USD 26.25 Million by 2033, exhibiting a growth rate (CAGR) of 26.22% during 2025-2033. The market is propelled by the country's commitment to decarbonizing its transport sector, supported by government initiatives promoting electric mobility and stricter emissions regulations. Furthermore, the growing demand for cost-efficient logistics solutions is accelerating the adoption of electric trucks. Apart from this, advancements in battery technology and expanding charging infrastructure are enhancing vehicle range and efficiency, further augmenting the Malaysia electric truck market share.

Malaysia Electric Truck Market Trends:

Government Incentives and Policy Support

The Malaysian government's strong policy push toward electrification is a key trend shaping the market. Through initiatives under the Low Carbon Mobility Blueprint (LCMB) 2021–2030, the government has set ambitious goals to reduce greenhouse gas emissions and promote electric vehicle (EV) adoption. Apart from this, policies such as exemptions on import duties, excise duties, and road tax for EVs, including electric trucks, are making adoption more cost-effective for fleet operators. Notably, in November 2024, the Malaysian government introduced full exemptions of import and excise duties for completely built up (CBU) EVs until end-2025, and for domestically produced EVs (including EV trucks), exemptions extending until the end of 2027. Furthermore, the National Automotive Policy (NAP) 2020 emphasizes electrification as a core pillar for future mobility, encouraging both domestic production and foreign investment in EV-related industries. These supportive measures are particularly relevant for logistics companies seeking to modernize fleets in line with sustainability goals. Additionally, the allocation of funds under the Green Technology Financing Scheme (GTFS) enables businesses to access financial support for EV procurement and charging infrastructure development. Collectively, these policy-driven incentives are lowering entry barriers, creating a favorable ecosystem for widespread electric truck adoption in Malaysia's transportation and logistics sector.

Expansion of Charging Infrastructure and Green Logistics Initiatives

The rapid development of charging infrastructure is emerging as a critical driver propelling Malaysia electric truck market growth. Moreover, major players are actively investing in expanding EV charging networks across highways, urban centers, and industrial hubs to support commercial fleet operations. According to industry reports, Malaysia has a target to roll out approximately 10,000 EV charging stations nationwide by end-2025, including in Sabah and Sarawak. In addition to this, dedicated plans to establish DC fast-charging stations are particularly significant for electric trucks, which require higher-capacity charging solutions to reduce downtime in logistics operations. Besides this, the country's commitment to green logistics, highlighted by rising demand from e-commerce, retail, and industrial supply chains, is driving the integration of EV-compatible infrastructure in distribution centers and warehouses. In line with this, sustainability-focused corporations are increasingly entering partnerships with charging solution providers to align operations with ESG (Environmental, Social, and Governance) targets. Also, the development of smart charging and vehicle-to-grid (V2G) technologies is gaining traction, allowing fleet managers to optimize energy usage and reduce operational costs. This infrastructure expansion is not only improving operational feasibility but also reinforcing Malaysia's positioning as a hub for sustainable logistics in Southeast Asia.

Malaysia Electric Truck Market Segmentation:

IMARC Group provides an analysis of the key trends in each segment of the market, along with forecasts at the country and regional levels for 2025-2033. Our report has categorized the market based on vehicle type, propulsion, range, and application.

Vehicle Type Insights:

• Light-duty Truck
• Medium-duty Truck
• Heavy-duty Truck

The report has provided a detailed breakup and analysis of the market based on the vehicle type. This includes light-duty truck, medium-duty truck, and heavy-duty truck.

Propulsion Insights:

• Battery Electric Truck
• Hybrid Electric Truck
• Plug-in Hybrid Electric Truck
• Fuel Cell Electric Truck

A detailed breakup and analysis of the market based on the propulsion have also been provided in the report. This includes battery electric truck, hybrid electric truck, plug-in hybrid electric truck, and fuel cell electric truck.

Range Insights:

• 0-150 Miles
• 151-300 Miles
• Above 300 Miles

The report has provided a detailed breakup and analysis of the market based on the range. This includes 0-150 miles, 151-300 miles, and above 300 miles.

Application Insights:

• Logistics
• Municipal
• Construction
• Mining
• Others

A detailed breakup and analysis of the market based on the application have also been provided in the report. This includes logistics, municipal, construction, mining, and others.

Regional Insights:

• Selangor
• W.P. Kuala Lumpur
• Johor
• Sarawak
• Others

The report has also provided a comprehensive analysis of all the major regional markets, which include Selangor, W.P. Kuala Lumpur, Johor, Sarawak, and others.

Competitive Landscape:

The market research report has also provided a comprehensive analysis of the competitive landscape. Competitive analysis such as market structure, key player positioning, top winning strategies, competitive dashboard, and company evaluation quadrant has been covered in the report. Also, detailed profiles of all major companies have been provided.

Malaysia Electric Truck Market News:

• In April 2025, Evolvelectric Motors announced the launch of the JAC T9 EV 4×4, identified as the first fully electric pick-up truck in Malaysia. The vehicle is priced at RM 199,888 (excluding insurance) and features a dual-motor 4×4 drivetrain delivering 70 kW front, a payload capacity of 1,000 kg, towing capacity up to 3,500 kg, and an 88.02-kWh LFP battery offering up to 340 km of range. Key supporting features include fast-charging capability, a suite of active/passive safety systems, a 6-year/200,000-km warranty covering the battery, and a planned dealer network expansion to at least 12 outlets by end-2025.
• In February 2025, Kempower, in collaboration with Yinson GreenTech’s chargEV, inaugurated Malaysia’s first electric truck-ready charging hub at Tangkak Pitstop near the Tangkak Toll Plaza in Johor. The facility features a total charging capacity of 400 kW across eight points, supported by a 400 kWh Battery Energy Storage System to balance peak electricity demand and maintain grid stability. Strategically located along the North-South Expressway, the hub is designed to serve both passenger EVs and commercial vehicles traveling between Kuala Lumpur and Singapore, offering additional amenities such as a food court and public restrooms.

Malaysia Electric Truck Market Report Coverage:

Key Questions Answered in This Report:

• How has the Malaysia electric truck market performed so far and how will it perform in the coming years?
• What is the breakup of the Malaysia electric truck market on the basis of vehicle type?
• What is the breakup of the Malaysia electric truck market on the basis of propulsion?
• What is the breakup of the Malaysia electric truck market on the basis of range?
• What is the breakup of the Malaysia electric truck market on the basis of application?
• What is the breakup of the Malaysia electric truck market on the basis of region?
• What are the various stages in the value chain of the Malaysia electric truck market? 
• What are the key driving factors and challenges in the Malaysia electric truck market?
• What is the structure of the Malaysia electric truck market and who are the key players?
• What is the degree of competition in the Malaysia electric truck market? 

Key Benefits for Stakeholders:

• IMARC’s industry report offers a comprehensive quantitative analysis of various market segments, historical and current market trends, market forecasts, and dynamics of the Malaysia electric truck market from 2019-2033.
• The research report provides the latest information on the market drivers, challenges, and opportunities in the Malaysia electric truck market.
• Porter's five forces analysis assist stakeholders in assessing the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. It helps stakeholders to analyze the level of competition within the Malaysia electric truck industry and its attractiveness.
• Competitive landscape allows stakeholders to understand their competitive environment and provides an insight into the current positions of key players in the market.