New investors eyeing KLK TechPark after BYD exit, says Perak MB

Perak Menteri Besar Saarani Mohamad revealed that the KLK TechPark in Tanjong Malim is engaging with multiple automotive firms interested in establishing operations within the industrial hub. This development follows BYD Company Ltd's decision to withdraw from a CKD vehicle assembly plant project in the same area. Following BYD's announcement that it would not proceed with the assembly plant plans, Perak Menteri Besar Saarani Mohamad stated that the park is holding talks with several parties, aiming to generate revenue to replace what was lost due to BYD's exit.

Multiple investors from different sectors are being considered, creating new investment opportunities that were previously planned with BYD. The decision comes after BYD Malaysia confirmed in September that it would not move forward with establishing the CKD plant in Tanjong Malim. However, BYD's managing director, Jacob Ma, mentioned that discussions with local vendors on local assembly were at an advanced stage, highlighting the company's strategy to adapt and become part of Malaysia's automotive ecosystem.

The shift in BYD's manufacturing strategy sparked scrutiny after the company's plans for the Tanjong Malim plant seemed to stall in March. In response to the uncertainty surrounding BYD's manufacturing licence and related policies, the Perak government announced in July that fully imported electric vehicles must have a minimum import value of RM200,000.