By South China Morning Post | Created at 2024-12-16 13:01:29 | Updated at 2024-12-16 15:55:10
2 hours ago
Malaysian carmaker Proton on Monday launched the country’s first home-grown electric vehicle (EV), priced nearly US$10,000 cheaper than the nearest rival offered by Chinese EV giant BYD, as the company aims to make electric mobility more affordable for Malaysians.
Chinese EV giants have shifted their focus to Southeast Asia due as tariffs hinder their access to the US and European markets.
Facing hundreds of millions of dollars in potential losses after Washington imposed 100 per cent tariffs on EVs imported from China, Chinese manufacturers have shifted some sales targets to Southeast Asia over the past two years.
After the US imposed a 100 per cent tariff on EVs imported from China, these manufacturers faced potential losses of hundreds of millions of dollars. As a result, over the past two years, they have adjusted their sales targets to prioritise Southeast Asia.
Similarly, European nations have introduced tariffs of up to 35 per cent, citing unfair pricing by Chinese EV makers.
Proton, partially owned by Chinese carmaker Geely, rolled out its new e.Mas7 SUV on Monday. The entry-level Prime model is priced at 109,800 ringgit (US$25,534), while the Premium version costs 123,800 ringgit (US$28,790).
“We want and hope to set an example in the region,” Malaysia’s Prime Minister Anwar Ibrahim said at the launch of the EV.
