Malaysia has invited American businessmen to take a closer look at the country as a preferred destination for investment in various fields, including the automotive sector. Prime Minister Datuk Seri Ismail Sabri Yakub made the call in Washington yesterday, where he is currently on a four-day working visit. Has been named Report
He welcomed the corporations, especially the Fortune 500 companies to invest or expand in Malaysia, especially in the digital economy and green technology as well as in the electric vehicle sector. To that end, he said he had invited American electric car maker Tesla to visit Malaysia as a manufacturing hub.
“I advise Tesla to invest in making electric cars in Malaysia,” he told Malaysian journalists after a meeting with Ted Ossius, president and CEO of the US-ASEAN Business Council (US-ABC), in Washington.
Ismail said he told US-ABC, which represents 170 major American businesses in Southeast Asia, to play a bigger role in attracting investment to ASEAN, especially Malaysia. He added that the council considers Malaysia an important trading partner of the United States.
Malaysia’s overture to the American EV maker is behind Indonesia’s real talks, which have long been in discussions with Tesla about the possibility of setting up a factory in the republic to make batteries for its EVs.
The talks took place in March, apparently because Tesla was interested in replacing its cars with power-saving batteries. However, last month it was reported that Indonesia had resumed talks with Tesla boss Elon Musk to join the country’s growing nickel and eV industry.
The country has long been pushing for investment in EV and battery production, with its nickel and cobalt reserves – used to make lithium-ion batteries – as well as bauxite, which could be converted to aluminum. Indonesia, which has the world’s largest reserves of nickel, wants to build a complete supply chain for battery chemical extraction from metals, not just exports.