Malaysia Prime Minister Ismail Sabri Yaakob has suggested US-headquartered electric vehicle maker Tesla to invest and produce electric car in the country as he presented Malaysia as a preferred investment destination, national news agency Bernama reported.
The prime minister on Wednesday (Thursday, May 12 in Malaysia) rolled out the red carpet for American investors and businessmen and welcomed them, especially the Fortune 500 companies, to invest or increase their investment, namely in economic digital, green technology and electric car sectors.
“I’ve suggested to Tesla to invest in Malaysia in producing electric cars,” he reportedly told Malaysian journalists after meeting Ambassador Ted Osius, president and chief executive officer of the US-ASEAN Business Council (US-ABC) at a hotel in Washington DC. Set up in 1984, the US-ABC represents 170 major American businesses in Southeast Asia.
The prime minister is on a four-day working visit to the US, during which he would meet with President Joe Biden and ASEAN leaders.
Neighbouring Indonesia has been publicly wooing Tesla to invest in the country to help develop its ambitious EV and battery industry plans. Earlier on Monday, Reuters reported that Indonesian President Joko Widodo is planning to meet Tesla founder and Chief Executive Officer Elon Musk during an upcoming US visit, a minister said.
Indonesia, the world’s largest producer of nickel, seeks to accelerate the development of its nickel industry to supply batteries for EVs. A team from Tesla is visiting several sites in Indonesia, including Morowali, this week, coordinating minister for investment and maritime affairs Luhut Panjaitan told reporters in Jakarta on Monday.
According to Reuters, the Indonesia Morowali Industrial Park, backed by units of China’s Tsingshan Holding Group and BintangDelapan Group, is being developed as a key nickel industry site in Central Sulawesi.
Tesla and the Indonesian government have been in talks for at least three years but no deals have been struck yet. South Korea-headquartered Hyundai Motor Group has made the early move to set up an EV plant while partnering with LG Energy Solution to build a battery plant.
Founded by billionaire tech entrepreneur Elon Musk, Tesla has a manufacturing facility in Shanghai, China. Tesla has recently halted most of its production at its Shanghai plant due to problems securing parts for its EVs, according to an internal memo seen by Reuters, the newswire reported on Monday.
Tesla’s sales in China had also slumped by 98 percent in April from a month earlier, data released by the China Passenger Car Association (CPCA) showed on Tuesday as China imposed strict lockdowns in Shanghai.