New investors eyeing KLK TechPark after BYD exit, says Perak MB
BYD Malaysia previously said it would not proceed with plans to establish a completely knocked-down vehicle assembly plant in Tanjong Malim.
Perak's Chief Minister Saarani Mohamad announced that KLK TechPark, a Malaysian industrial hub, is in talks with various automotive companies, potentially replacing BYD Company Ltd as a new investor. BYD had previously withdrawn from a project in Tanjong Malim, Malaysia, after deciding not to establish a completely knocked-down (CKD) vehicle assembly plant in the area.
Saarani Mohamad stated that the park is seeking revenue to replace what was lost with BYD's exit. Several investors from different sectors are being considered, presenting new investment opportunities that were initially planned with BYD. BYD Malaysia's managing director, Jacob Ma, confirmed that their discussions with local vendors for local assembly are at an advanced stage, as they adapt their strategy to align with Malaysia's automotive ecosystem.
BYD's involvement in the Tanjong Malim plant appeared to stall in March, leading the government to impose a minimum import value of RM200,000 for fully imported electric vehicles starting in July.
Written by urgent.news from Free Malaysia Today's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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- New investors eyeing KLK TechPark after BYD exit, says Perak MB freemalaysiatoday.com
