Tesla EV Factory Plans in Malaysia and Southeast Asia Cancelled
Despite a promising start, the Tesla EV Factory that many speculated would arrive has been cancelled according to reports out of Thailand.
Keep in mind that even though our Malaysian Investment Development Authority did not confirm plans for a Tesla EV Factory in the future, the confirmation of its cancellation was still a blow to the country who had relied on the promise of the potential jobs Tesla could bring to the nation.
Stiff competition from Chinese electric vehicle manufacturers prompted Tesla to cancel its plans to build factories in Southeast Asia, said Prime Minister Datuk Seri Anwar Ibrahim.
He said that the US carmaker shared this with Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.
“Tengku Zafrul is getting the latest information (on reports suggesting that) they (Tesla) are facing losses and cannot compete with Chinese Electric Vehicles.
“Their operations in Thailand are large while we’re just starting.
“We received the information (about Tesla’s investment) directly (from the company), not from media coverage,” Anwar told reporters after the launching ceremony of the Guidelines on the Management and Governance of Federal Statutory Bodies here.
