[%KvKz%] tagging other automotive supply chain players

[%KgiX%] [%hibT%] [%JoSm%] ... to an extent [%CfLH%]

@realalvinang tagging other automotive supply chain players

$KLSE-AMTEL $KLSE-BETA $KLSE-MCEHLDG ... to an extent $KLSE-LEFORM

Government Committed to Making Electric Vehicle Ownership Accessible to Everyone

The government is firmly committed to expanding access to electric vehicle (EV) ownership for individuals across various income brackets through targeted subsidies and financial assistance," emphasized Tengku Datuk Seri Zafrul Abdul Aziz, Minister of Investment, Trade, and Industry. While the specifics of these subsidies and financial aid programs have yet to be disclosed, it is evident that the government's policy initiatives have already positively impacted the local automotive industry, underscoring its dedication to nurturing a comprehensive EV ecosystem in the nation. It is anticipated that these incentives will likely be directed towards Completely Knocked Down (CKD) EV models. This raises the question of whether there are any popular CKD Electric Vehicles (EVs) available in Malaysia.

Indeed, there are popular CKD EV options in the country. For instance, the well-regarded luxury brand Mercedes-Benz offers the Mercedes-Benz EQS500 4 Matic, a CKD EV assembled in Pekan, Pahang. However, it's worth noting that such luxury vehicles may not be eligible for government subsidies, given recent policies primarily targeting higher-income individuals.

On the other hand, the Volvo XC40 Recharge is another CKD EV with a relatively more affordable price compared to Mercedes-Benz. Nevertheless, the current landscape only has Mercedes and Volvo assembling EVs in Malaysia, and more companies may follow suit if government policies offer them incentives. BYD has expressed interest, and Proton, now a distributor of Smart EV vehicles in Malaysia and Thailand, might able to gain CKD contract from Smart in the future. Moreover, both Proton and Smart share a common shareholder, Geely. Mazda from $KLSE-BAUTO might also CKD their MX-30 as they are pushing more and more CKD vehicle recently.

Beyond CKD assemblers, major car distributors like $KLSE-SIME stand to benefit from this EV wave. Companies such as $KLSE-D&O and $KLSE-PECCA which is automotive-related are expected to reap the rewards of these developments. Electricity-related companies including LSS winners would also be a gainer in this wave such as $KLSE-TENAGA, $KLSE-SLVEST etc.