BYD to announce future plans for Malaysia ‘within a week’

BYD, the Chinese electric vehicle giant, is set to reveal its future plans for expansion in Malaysia within the next seven days, amidst speculation about potential collaborations or the establishment of an in-house manufacturing facility. BYD vice-president Liu Xueliang affirmed the company's commitment to long-term investment in Malaysia, despite recent setbacks that have impacted the progress of its manufacturing plans.

Liu stated that BYD would continue exploring partnerships with local entities to bolster the growth of Malaysia's new energy vehicle industry. He assured that the company's development trajectory in Malaysia is progressing well and that they will soon announce their approach towards sustainable development. When asked about the company's preferred approach, whether through cooperation with a local partner or an alternative strategy, Liu remained vague, hinting at an announcement coming in a week's time.

BYD's plans, especially concerning its local manufacturing strategy and potential partnerships, have drawn attention following the apparent stalling of its plant project in Tanjung Malim in March. The Malaysian government subsequently announced a minimum import value of RM200,000 for fully imported electric vehicles, starting from July, following social media claims of conditions imposed on BYD's manufacturing license and other related policies.

In May, it was reported that BYB was considering a contract assembly partnership with Sime Motors Inokom plant in Kulim as the Chinese company reevaluated its local manufacturing approach in Malaysia. Liu emphasized BYD's reaffirmed commitment to long-term investment in Malaysia, even amidst the developments affecting its plans.

He highlighted East Malaysia as a market with substantial growth potential, stating that the company aims to develop suitable models for the East Malaysian market. Liu clarified that BYD's strategy is focused on Malaysia as a whole and is not limited to any specific region. The media meeting with Liu took place during the Asia-Pacific Media Forum, held prior to the meeting of Asia-Pacific economic leaders on November 18-19.