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

BYD, the Chinese electric vehicle manufacturer, plans to reveal its future expansion strategies in Malaysia within a week, according to the company's vice-president Liu Xueliang. Liu affirmed the company's long-term commitment to investing in Malaysia, despite recent developments that have impacted its progress. BYD is considering whether to collaborate with a local partner or establish its own manufacturing facility in the country.

The company's progress on a plant in Tanjung Malim has reportedly stalled, leading to speculation over potential challenges. In response to these concerns, the Malaysian government announced that fully imported electric vehicles must have a minimum import value of RM200,000 starting July. Additionally, BYD is reportedly evaluating a potential contract assembly partnership with Sime Motors Inokom plant in Kulim.

Liu emphasized that BYD's strategy in Malaysia is focused on the country as a whole and not limited to any specific region. The company's plans for expansion were discussed during a media meeting with a visiting Malaysian delegation, held in conjunction with the Asia-Pacific Media Forum ahead of the Asia-Pacific economic leaders' meeting on November 18-19.