- Kyle Chua
China’s BYD Partners With Sime Darby Motors To Enter Malaysian Market
Chinese electric vehicle (EV) maker BYD is gearing up to enter the Malaysian market before the year ends.
The Warren Buffet-backed automotive giant has inked an RM500 million (S$154 million) deal with Sime Darby Motors to be its exclusive distributor in Malaysia, as the New Straits Times reports.
The half-billion investment is reportedly being used to establish a vast network of showrooms across the country. Sime Darby Motors expects to open a total of 20 showrooms by the end of next year, with up to twice that number in 2024. The first showroom is scheduled to open later this month at TREC KL on Jalan Tun Razak. The next three are slated to open at Ara Damansara, Penang and Johor by June next year.
"In line with our aim to be a leader in EV with a view towards propelling Malaysia's EV aspirations, we are excited to embark on this new chapter with BYD following our success in Singapore," said Sime Darby Motors Managing Director Andrew Basham. "BYD's line up of world-class vehicles which feature premium specs at an attractive price point is set to be a game-changer to spur EV adoption among Malaysians."
The first of BYD's EVs launching in Malaysia is the flagship Atto 3, which is priced at RM149,800 for the Standard Range and RM167,800 for the Extended Range.
BYD Asia Pacific General Manager of Auto Sales Division Liu Xueliang said the EV brand's arrival should help the country's initiatives to reduce carbon emissions and give Malaysian drivers a new option to purchase eco-friendly vehicles that still pack innovative technology.
With its arrival in Malaysia, BYD's market now covers much of North and Southeast Asia, Australia, Europe and Latin America. The Chinese EV maker has already set up shop in countries like Brazil, Chile, Germany, Israel, Japan and India, among others.
BYD is gearing up to enter the Malaysian market before the year ends.
The Chinese EV maker has inked an RM500 million (S$154 million) deal with Sime Darby Motors as its exclusive distributor in the country.
The first of BYD's EVs launching is the flagship Atto 3, which is priced at RM149,800 for the Standard Range and RM167,800 for the Extended Range.
Sime Darby Motors plans to open the first showroom later this month at TREC KL on Jalan Tun Razak.