Anwar: Tesla lost to Chinese electric vehicles before giving up to set up factories in

(Comprehensive News) Malaysia Prime Minister Anwar said that the US electric vehicle giant Tesla cannot face losses with Chinese electric vehicles, so he abandoned the plan to set up factories in Southeast Asia.

When Anwar attended the event on Friday (August 9), Tesla responded to the cancellation of Factory in Southeast Asia.He said that the Minister of Investment in Malaysia, Trade and Industry Zafru had directly understood the situation from Tesla, saying that Tesla is currently facing losses because it is impossible to compete with Chinese electric vehicles.

Anwar also said that Tesla's operation in Thailand is large, and the electric vehicle industry in Malaysia has just started.

Anwar revealed in July last year that Tesla intends to invest in Malaysia.In October last year, Tesla also established Malaysian operation headquarters in Saicheng, Selangor.

Tesla is considered the Malaysian government to win the most indicator of investment projects.However, after Tesla's cancellation of factories in Southeast Asia, Zafru clarified that Tesla never promised to set up factories in Malaysia.

Tesla President Musk announced in August 2022 that he hopes to set up 10 to 12 super factories worldwide.Malaysia, Thailand and Indonesia in Southeast Asia are actively striving for Tesla to settle in.

However, the Thai National News reported that Tesla has abandoned the plan to set up an electric vehicle manufacturer in Southeast Asia, because its plans to set up factories in the world have stopped, and currently only discuss charging stations.

Li Fengjin, a senior researcher at the Easov Issa East South Asian Research Institute in Singapore, analyzed the South China Morning Post that although the electric vehicle market in Southeast Asia has the potential, the market has been led by many Chinese electric vehicle manufacturers, including BYD.In addition, the price of Chinese electric vehicles is cheaper, and it can attract Southeast Asian owners with lower budgets.

Data show that Tesla's sales in Malaysia last year were briefly led, which was later surpassed by BYD.BYD has sold more than 8,000 electric vehicles since last year, and Bitslador has 3,000.