BYD to reveal Malaysia strategy ‘within a week’ amid local-assembly speculation
SHENZHEN, Sept 6 — Chinese electric vehicle (EV) giant BYD Co Ltd is expected to announce within a week its next m...
Chinese electric vehicle (EV) manufacturer BYD Co Ltd is set to reveal its strategy for further expansion in Malaysia within the coming week, as reported by the Malay Mail. The company's vice-president, Liu Xueliang, stated that BYD plans to continue exploring cooperation with local partners to support the development of Malaysia's new energy vehicle (NEV) industry.
However, the specifics of BYD's approach remain unclear, with Liu only hinting that a decision will be announced in a week's time. The timing of the announcement is significant, as Malaysia aims to strengthen its EV ecosystem and promote localisation and investment in the automotive supply chain. BYD's potential move to Malaysia has drawn attention, particularly in light of speculation regarding a possible contract assembly partnership with Sime Motors' Inokom plant in Kulim, Kedah, and the stalled progress on a manufacturing plant in Tanjung Malim, Perak.
The new requirements for imported EVs, which took effect on July 1, also add to the urgency of BYD's announcement.
Brief written by urgent.news from Malay Mail's own syndicated text. Machine-written — may contain errors; check the original before relying on it.
