Malaysia continues to attract global EV brands said Zafrul - Tesla had a role in attracting other brands?

KUALA LUMPUR - Malaysia, having attracted the leading American multinational company Tesla to open its regional headquarters here last year, is planning to draw more companies like the electric vehicle (EV) giant to establish assembly plants in the country.

Minister of Investment, Trade, and Industry, Tengku Datuk Seri Zafrul Tengku Abdul Aziz, stated that the goal is to ensure more companies like Tesla build their facilities in Malaysia.

He noted, there's a plan to attract even more big EV players to start building their stuff locally. It's all about getting more names like Tesla to plant roots in Malaysia, so that they can invest in the country.

He's pointing out how EV makers are already buying loads of components from Malaysia and talking up the semiconductor industry's role in this EV market boom.

Basically, Malaysia's looking pretty good to these manufacturers who want stable and reliable supply chains, so the minister's rolling out the welcome mat for more EV companies. He spilled these plans in a chat with CNBC's "Squawk Box Asia.

It looks like Tesla's setup in Malaysia had always been part of a bigger plan, where it could give confidence to others to invest and perhaps purchase parts in Malaysia. But the bug question is will other companies get preferential treatment like Elon Musk's companies?

The South African's companies, including Tesla and Starlink Internet Services Malaysia Sdn Bhd, got the green light to operate as fully foreign-owned entities. 

This move, straying from the norm where foreign carmakers in Malaysia usually need a local partner and a minimum 30% Bumiputera equity, seems to be based on the potential benefits they could bring to the country. It's a strategic decision, possibly hinting at Malaysia's larger ambitions in the global tech and automotive scene.

Speaking of automotive scene, the Tesla Model 3 Highland stands out as the most affordable EV offering an impressive range of over 600km. In comparison, its closest rival in terms of range, the Mercedes Benz EQE 350+, comes with a heftier price tag of RM420k.

On the other end of the spectrum, the current budget-friendly champion is the Neta V, priced at RM100k, providing a decent range of 380 km.

Also Read: Tesla no longer unrivaled king of EVs, BYD are - Seal’s arrival in Malaysia to propel them further locally?