The upcoming meeting between prime minister Datuk Seri Anwar Ibrahim and Tesla CEO Elon Musk is expected to provide a huge boost to Malaysia as it strives to become an electric vehicle (EV) hub in the region, said an economist.
While the brand is already set to officially enter the Malaysian market, Sunway University economics professor Yeah Kim Leng said that a fruitful discussion between Anwar and Musk, slated to take place later this week, could lead to a chain reaction of further commitments that will benefit the Malaysian economy in general.
Speaking to Bernama, he said that regardless of the nature and value of the investment that Tesla intends to bring to Malaysia, any forthcoming commitment arising from the meeting will have a positive effect on the local EV industry.
“Iconic investments typically have larger spillover effects through enhancing, strengthening local and foreign investor confidence as well as crowding in investments. This could open up more opportunities for suppliers, service providers as well as parts and components manufacturers to actively engage with the EV industry,” he told the national news agency.
He added that the meeting will have positive implications, as it affirms the government’s economic direction to pursue high impact, high value foreign direct investment (FDI) and clean energy. “Malaysia’s FDI numbers will continue to edge up should the meeting result in Musk or any of his numerous frontier projects finding a footing in the country,” he said.
Yeah’s sentiment was echoed by Malaysia Automotive, Robotics and IoT Institute (MARii) CEO Azrul Reza Aziz, who expressed confidence that the meeting between Anwar and Musk will lead to economic growth for the country.
“We are thrilled about the possibilities that lie ahead from the meeting. The possibility of Tesla increasing further investments in Malaysia will contribute to our nation’s economic growth and enable the development of a sustainable and environmentally friendly mobility ecosystem,” he said.
Earlier, investment, trade and industry minister Tengku Datuk Seri Zafrul Abdul Aziz reaffirmed that the potential collaboration between Malaysia and Tesla will seek to look at elements beyond the EV sector. “What we want is to attract more potential or investment commitment in the automotive sector and other sectors that we can market within Malaysia,” he said.
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Refer my name
Elon also can close shop overnight big loss billions if those lunatic extremists become the govt.
So it’s a national duty for all rakyat to keep voting unity govt and kick away the crazy extremists once and for all!
SpaceX will support us build Rocket
Meanwhile after both PH gomen chased away Chinese investments:
https://paultan.org/2023/07/11/china-carmakers-to-invest-rm6-7-billion-to-produce-evs-in-thailand
Chinese EV’s are sh** anyway. Thank god we didn’t have them, lol.
Sir,u will be surprised ,those greenies will become Elon’s buddy cronies overnight.Cars r not ‘sinful’ gambling issues.Even the Talibans also want Elon.
Lucky that we have PMX that will be speaking to Elon.
Anwar gembira, rakyat sengsara
Anwar di Sg Buloh, rakyat sorak kali sepuloh
I think Thailand has 1 leg up higher than Malaysia. It will be a tall order to depend on 1 single US company to transform Malaysia into an EV hub? We are introducing cars with EV credentials 1 year later than Thailand and Indonesia….
Although I don’t like Elon Musk but I gotta say that Tesla is still one of the world’s top selling EV brand, and they also have the gigafactory to build enough EV for sold.
Chinese EV’s are sh** anyway. So Thailand can have them, we have the good quality cars. Plus, I am glad that Tesla might choose Malaysia but even if he doesn’t I am more excited with the DNex – Foxconn Joint Venture compared to Tesla investment. Because car factories are very labor intensive and we probably will end up hiring immigrants to work at Tesla because none of our people want to do this job anymore. Some of our Engineers, will benefit from this but the number will be limited & you can guarantee there will be zero transfer of technology as history has shown, FDI in Malaysia fails to bring in transfer of technology. I am more excited with DNex-Foxconn because no 1 it is guaranteed that we will received transfer of technology to local firms & no 2 we will be producing chips for EV cars. This will be far more technologically advanced and this will also provide a lot of high income jobs.
It better be. Thailand is very aggressive in becoming the EV hub in SEA and more is needed to beat Thailand.
Thailand produces approx 1.3-1.4 juta vehicles annually,Sir.This is only for ICE cars.Half is for exports.
Now EVs r rushing to Thailand,the Detriot of Asia.
Our market is too small for EVs.
Elon,if he can let our 6000 jobless dudes rot in the sun for half a dozen jobs,tell me what he cant do.
He is just doing a publicity stunt,after China buyers r complaining about the many defective quality issues.
Dont put too much hope in the world’s most eccentric,unpredictable car tycoon.
Don’t need outdated yet boring Tesla Model 3, Y.
Bring the $39k 6 seater stainless steel cybertruck that premiered 2019, almost 4 years ago.
Should ask Elon to bring space X here, so that we can have CKD rocket
Everyone talking like Elon will come in and spend money here. Last time Jokowi went to see him also nothing concrete come out from that meeting. Do note Elon is now busy with a certain bird tech company.
If PMX want Elon to set up Gigafactory here the terms must be more favorable than Thailand.
Until Elon himself come here to cut ribbon for a Gigafactory or something similar I won’t put my hopes up. Hope won’t kena screwed like how Dyson said want to build an electric car in Singapore but U-turn.
It is Elon Musk who want to see PM and on Jokowi’s story it is Mr.President who want to meet Mas Elon.
Our gov policy not very clear for the EV market, don’t expect Musk will invest.
nak pi jumpaq org juai minyak ulaq nie buat pa? This guy is a glorified salesman la wei… when is anyone going to see through him for what he truly is?
We can’t be supporting Tesla to succeed here. This will be in competition with Proton, which ultimately affects its survivor. Don’t forget rakyat owns Proton through Khazanah.
Hahaha mmg sohai la u
Sell all Proton share to Geely. Then JV with Tesla to rebadge as national car. Protek Tesla hahahahahaaaa
Khazanah doesn’t own Proton anymore after releasing it stakes to DRB-HICOM. Kidzania also. Pinewood studio also.
No way elon will invest in EV Manufacturing in Malaysia unless we honour asean free trade agreeement for motor vehicles. Because of proton protection, other fellow asean countries imposed tarrifs for malaysian made cars in retaliation.
Let’s bring in Tesla EV, tech. Chargers, standards in.
Come on Elon, $10B investment into Malaysia. Booost our economic and currency!!!