Is Tesla cancelling plans for Southeast Asia factory? Malaysian Minister of Trade responds
AshleyAug 12, 2024, 11:25 AM
Recently, according to Thailand's "Nation" media reports, Tesla has canceled plans to build new factories in Thailand, Malaysia, or Indonesia, and withdrew the team responsible for the project.
On August 8, Malaysia's Minister of Trade Tengku Zafrul Aziz responded on social media to this matter, saying, "This report is not from Tesla official and it quotes anonymous sources, so its accuracy is to be verified. Secondly, the Malaysian Investment Development Authority (MITI) has never officially announced that Tesla will build a factory in Malaysia. Although we have had exchanges with Musk to explore the possibility of investment cooperation, Tesla has not made a clear commitment."
To promote the development of the electric vehicle industry, the Malaysian government launched the Global BEV initiative, which is open to all electric vehicle manufacturers, with Tesla being one of them. Companies participating in this initiative need to meet the following conditions:
1. Install at least 50 super-fast charging piles of 180 kilowatts or more
2. Ensure that at least 30% of the super-fast charging piles are open to other brand electric vehicles
3. Collaborate with at least 10 local companies to jointly develop charging infrastructure
Data shows that Malaysia has achieved significant success in attracting foreign investment. From 2022 to the first quarter of 2024, Malaysia attracted a total of 24.55 billion ringgit in investment related to the electric vehicle manufacturing industry. Furthermore, in the first quarter of 2024, Malaysia attracted a total of 837 billion ringgit in investment, a 13 percent increase from the same period last year. Whether Tesla will build factories in Malaysia is still undecided. But the Malaysian government is committed to developing the electric vehicle industry and providing support to all eligible companies.
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