Malaysia Eyes ASEAN’s Electric Vehicle Hub Crown.

Kuala Lumpur: Hyundai Motor will open its first plant in Kedah state, Malaysia next year with an investment valued at 500 million USD, the Malaysian Government has announced. The deal was reached during Malaysian Prime Minister Anwar Ibrahim's official visit to the Republic of Korea (RoK) from November 24-26. According to Lao News Agency, Malaysian Prime Minister Anwar Ibrahim welcomed the project and promised to ensure an attractive investment climate for automotive assembly, particularly focusing on electric vehicle (EV) models. He expressed confidence that this initiative would position Malaysia as a significant automotive production hub within the ASEAN market. Hyundai's investment, which covers both energy-efficient and electric vehicles, is expected to bolster Malaysia's automotive ecosystem. The new plant in Malaysia will be Hyundai's second in Southeast Asia, following the opening of a factory in Indonesia in 2022. The Indonesian facility has an annual capacity of up to 250,000 units, producing mode ls such as the Kona Electric SUV.