Tesla abandons Malaysian factory plans, says report
Published on: Wednesday, August 07, 2024
A source said the decision to abandon its plans to build factories in Southeast Asia was part of Tesla’s withdrawal of investment across Asia and beyond. (Bernama pic)
US electric car maker Tesla has abandoned its plans to build factories in Southeast Asia, including Malaysia, Thai daily The Nation reported.
According to the report, quoting a Thai government source, Tesla had scuppered plans to set up an electric vehicle (EV) factory in the region, in which Thailand, Malaysia or Indonesia were the likely locations.
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Tesla is currently only discussing charging stations, with the factory plans suspended worldwide. They are not proceeding in Malaysia, Indonesia, or anywhere else except for China, America and Germany, the source said, adding that the decision was part of Tesla’s withdrawal of investment across Asia and beyond.
It is understood that the Tesla team of executives leading the company’s push into Southeast Asia last year has since been disbanded.
In July last year, Prime Minister Anwar Ibrahim announced large-scale investments from Tesla and one of Elon Musk’s other hi-tech ventures, SpaceX, in Malaysia, which Anwar said would create tens of thousands of high-value jobs.
Anwar also said Tesla would set up its Malaysian headquarters, as well as service centres, in Selangor.
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Selangor Menteri Besar Amirudin Shari had said Petaling and Sepang districts had been prepared to facilitate and coordinate the investment entry process.
He had hoped Tesla’s investments in Malaysia would encourage more international battery technology companies to invest in the state.
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