The European Union imposed tariffs on Chinese EV makers BYD, Geely, and SAIC due to unfair subsidization. This shift in Chinese focus is expected to drive higher EV sales in ASEAN, particularly in Malaysia and Indonesia. Maybank Investment Bank noted a preference for ASEAN companies partnering with Chinese car makers and those in the battery value chain.
Prior to the launch, Proton’s e. MAS7 was rumored to be a rebadge of a Geely model, but Proton executives denied it. Malaysia’s largest domestic carmaker, Perodua, plans to release its own EV car priced under 100,000 ringgit in 2025 after robust EV demand in 2023.
Chinese EV makers’ focus on Southeast Asia has led to complaints in Thailand over steep discounts. Malaysia, however, has regulations in place to prevent similar issues regarding pricing approval from the automotive business development committee.