PM: Report of Tesla scrapped factory plans in SE Asia due to losses and Chinese competition
Tesla's reported decision to abandon plans for building electric vehicle (EV) factories in Thailand, Malaysia, and Indonesia is due to business losses and increasing competition from China, according to Datuk Seri Anwar Ibrahim.
Addressing questions on Friday (Aug 9) about reports that Tesla had shelved its plans to establish factories in the three Southeast Asian nations to focus instead on setting up charging stations, the Prime Minister disclosed that Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz had received this information directly from Tesla.
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Addressing questions on Friday (Aug 9) about reports that Tesla had shelved its plans to establish factories in the three Southeast Asian nations to focus instead on setting up charging stations, the Prime Minister disclosed that Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz had received this information directly from Tesla.
Read more at https://tinyurl.com/yhn2hxu7
WATCH MORE: https://thestartv.com/c/news
SUBSCRIBE: https://cutt.ly/TheStar
LIKE: https://fb.com/TheStarOnline
Transcript
00:00Okay, Tesla, Kuzafruz are getting the latest information.
00:07Tesla, Kuzafruz are getting the latest information.
00:12Because they are experiencing a loss, they cannot compete with China's EV.
00:18So the operation from Thailand is big.
00:20We are just starting.
00:22So we got the direct explanation, not from the coverage.
00:26That's Tesla.