Malaysia Will Provide Stronger Foothold For Tesla - PM Anwar

According to statements from Prime Minister, Anwar Ibrahim, Tesla, Inc. is poised to expand its global presence, with Malaysia showing a keen interest in providing a stronger foothold for the electric vehicle manufacturer.

In a recent interview with CNBC, Anwar stressed Malaysia's emphasis on electric vehicles. 

He stated, “The way we see things is not structured blanket procedures or policies but to see the synergy.”
The Prime Minister went on to say that Tesla's entry could benefit a variety of local industries, resulting in a 20-30% increase in economic advantage, Benzinga reported.

According to The Star, Anwar also confirmed Tesla's ability to move up the supply chain. He noted that producing cars locally is more cost-effective than importing vehicles from all over the world, and that such localization contributes to lower consumer costs.
While he acknowledged the possibility of Tesla's full supply chain assembly in Malaysia, he felt it was too soon to provide specifics.

Tesla's Malaysian subsidiary began operations in July, launching the Model Y for domestic buyers. Malaysia's Battery EV Global Leaders Initiative, led by the Malaysian Investment, Trade, and Industry body, facilitated this expansion.

Anwar also had a virtual conversation with Tesla CEO Elon Musk about the company's operations in Malaysia, as well as the Starlink service.

Surprisingly, neighbouring Indonesia has been actively courting Tesla and Musk to establish a presence in the country. Indonesia's abundance of nickel, a critical material for batteries, contributes to the country's appeal as a potential base for Tesla's operations.