Automotive Sector Energy efficient vehicle hub plan

Three China-based automotive companies are close to making Malaysia their energy efficient vehicle (EEV) base of operations for the region, a source familiar with the matter said. A source said that three potential Chinese automotive companies have been identified to manufacture right-hand drive vehicles for the region and representatives from the Government will be holding talks with them later this month.

According to the reports, the Government, in line with intentions of liberalising the local automotive sector, is seriously looking to turn the country into an EEV hub for the region. It has also been widely speculated that various incentives will be announced under the revised National Automotive Policy to attract foreign automotive companies with EEV capabilities.

Apart from China-based companies, the source also said renowned automotive players from the United States, Japan and Europe had also expressed interests in making Malaysia their EEV hub. - StarBiz

Source: AmeSecurities