Next week, Prime Minister Datuk Seri Anwar Ibrahim of Malaysia will be in strategic talks with Tesla CEO Elon Musk, regarding the company’s plans to expand investments in the Southeast Asian nation.
Elon Musk expressed a desire to meet with the Prime Minister to explore potential areas of investment in Malaysia. “Elon Musk has requested a meeting to discuss opportunities for augmenting his investments in our country,” Ibrahim revealed during a recent assembly with state civil servants held at MBS Hall, reports The Star.
Amid a debt of RM1.5 trillion, the Prime Minister stressed the country’s urgent requirement for fresh investments, both domestic and foreign, to elevate its income and decrease the nation’s financial burden. He pointed out the potential for new investments to stimulate job creation and hence the economy.
In light of these developments, International Trade and Industry Minister Tengku Datuk Seri Zafrul Aziz, announced last March that his ministry had sanctioned Tesla’s application to import Battery Electric Vehicles (BEV) into Malaysia.
Furthermore, he indicated that Tesla’s plans included establishing their head office in Malaysia, initiating “experience centres”, service centres, and installing their proprietary Supercharger network.
Tesla’s increased presence is anticipated to cultivate skilled job opportunities within the BEV sector and encourage the involvement of local companies within Tesla’s ecosystem, both domestically and internationally. This development also underlines Tesla’s faith in Malaysia’s economic stability and favourable business conditions, Minister Zafrul added.
Meanwhile, Prime Minister Ibrahim confirmed his discussions with Japanese investors, which culminated in an agreement for an additional RM20 billion investment in Malaysia.
“Despite criticism for my travels to court fresh investments, I believe our efforts have been successful. We’ve secured a commitment from Chinese investors to infuse RM170 billion into our economy,” he defended.
During his China visit, 19 memoranda of understanding were signed, one of which includes the creation of a high-tech automotive valley in Tanjung Malim, focusing on new energy vehicles.
Prime Minister Ibrahim also acknowledged meeting with representatives from Saudi Arabian oil company Aramco, who agreed to augment their investments in Johor.
He concluded his address by affirming his government’s ongoing commitment to seek investments beneficial to the people. However, he emphasized the critical role of civil servants in assuring the success of these efforts, appreciating their dedication, loyalty, and sacrifice.
“It’s imperative that we persist in executing our duties responsibly and not betray the trust vested in us,” he concluded.
Earlier this month, Tesla announced it would be launching sales in Malaysia on July 20. With Giga Shanghai continuing to churn out the bulk of Tesla’s Model 3 and Model Y vehicles, expect them to also be delivered to Malaysia.
