Malaysia observes more additional acquisitions to broaden E.V. footprint behind landmark Tesla agreement

August 24, 2023: Malaysia observes more additional acquisitions to broaden E.V. footprint behind landmark Tesla agreement.

“EV happens to be our priority,” Malaysia’s Prime Minister Anwar Ibrahim told in an exclusive interview at the prime minister’s offices in Putrajaya, just south of the country’s capital Kuala Lumpur.

Tesla’s groundbreaking move with Malaysia grows Southeast Asia’s place in the EV supply chain and the foremost deal under the country’s Battery Electric Vehicle Global Leaders initiative.

The deal again represents the opportunity for the U.S. automaker to expand into a new market as consequence holds in China and its other major markets.

Under Tesla’s agreement with Malaysia, the EV maker can sell its Shanghai-made electric cars directly without import tariffs or intermediary markup.

Tesla will also establish a regional seat and service center in Selangor, equipped with advanced diagnostic tools and staffed with highly trained Tesla technicians.

Tesla users will ultimately have access to a network of charging stations in huge urban areas in the country, with the first planned for downtown Kuala Lumpur.

Tesla also plans to embark on EV battery manufacturing in Malaysia.

Anwar said Malaysia is receptive to better EV investments from Chinese automakers. While Chinese carmakers have “not been asking,” he said, “the possibility will be open.”

He said there will be synergy when unfamiliar companies such as Tesla invest in Malaysia, counting that “it can help three or four local industries.”