Rumors swirl as Malaysia’s hopes for a Tesla factory seem to fade. Although discussions were held with Elon Musk, no commitment was made. Despite a potential $100 billion market value by 2035, it appears Tesla may not be moving forward with manufacturing hubs in Southeast Asia. Analysts believe Tesla’s high prices compared to Chinese competitors may be a factor. Malaysia, keen to embrace EVs, even waived a long-standing policy for Tesla. However, with China dominating the market, Tesla’s entry may face challenges.
Local manufacturers support Tesla’s supply chain in Malaysia. While Tesla cars are imported from Shanghai, after-sales support may raise concerns. Malaysia, eyeing EV growth, has attracted billions in investments in the sector. Nevertheless, the market dynamics and competition from Chinese companies pose challenges.
Southeast Asia anticipates a massive EV market surge, but affordability remains a key issue. Price competition is fierce in Malaysia, with Tesla facing barriers due to its higher costs. Proton’s entry into EVs adds another dimension to the evolving landscape.
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