PM: Report of Tesla scrapped factory plans in SE Asia due to losses and Chinese competition

Business

Published on 9 Aug 2024 2:40:45 PM

Tesla's reported decision to abandon plans for building electric vehicle (EV) factories in Thailand, Malaysia, and Indonesia is due to business losses and increasing competition from China, according to Datuk Seri Anwar Ibrahim.

Addressing questions on Friday (Aug 9) about reports that Tesla had shelved its plans to establish factories in the three Southeast Asian nations to focus instead on setting up charging stations, the Prime Minister disclosed that Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz had received this information directly from Tesla.

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Keywords
government, anwar ibrahim, tesla, electric vehicles, ev, cancellation, fdi, factories, thailand, malaysia, indonesia, china, charging stations, prime minister, investment, trade, and industry minister, tengku zafrul, news

Keywords:
government, anwar ibrahim, tesla, electric vehicles, ev, cancellation, fdi, factories, thailand, malaysia, indonesia, china, charging stations, prime minister, investment, trade, and industry minister, tengku zafrul, news