CEO Morning Brief

Sime Darby Motors to Invest RM500 Mil to Set Up Showrooms for China's BYD in Malaysia

Publish date: Fri, 09 Dec 2022, 08:37 AM
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TheEdge CEO Morning Brief
(From left) Sime Darby Motors Sdn Bhd retail and distribution managing director Jeffrey Gan, Sime Darby Motors MD Andrew Basham, International Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, BYD Asia Pacific auto sales division general manager Liu Xueliang, and BYD Malaysia and Indonesia MD Eagle Zhao (Photo by Shahrin Yahya/The Edge)

KUALA LUMPUR (Dec 8): Sime Darby Motors, the automotive arm of conglomerate Sime Darby Bhd, has earmarked RM500 million to build new showrooms for China's BYD in Malaysia.

The planned investment is aimed at establishing a total of 40 showrooms for BYD vehicles in Malaysia by 2024 — with the first showroom slated to be opened by mid December this year at TREC Kuala Lumpur.

This will be followed by bringing the BYD Atto 3, an all-electric sport utility vehicle (SUV) into Malaysia, after Sime Darby Motors' recent appointment as the official exclusive distributor of BYD vehicles in Malaysia.

Sime Darby Motors managing director Andrew Basham said BYD's array of world-class vehicles which feature premium specs at an attractive price point is set to be a "game changer" to spur electric vehicle (EV) adoption among Malaysians.

"In line with our aim to be a leader in EV and 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.

"With half a billion ringgit set to be invested, this will support our aggressive expansion plans for the brand here and reflect our belief in the brand's universal appeal," Basham added.

BYD Asia Pacific auto sales division general manager Liu Xueliang commented that as part of the group's vision for a sustainable future powered by electrification, it is pleased to strengthen its partnership with Sime Darby Motors to enter the Malaysian market.

"Drawing on Sime Darby Motors' proven track record and capabilities as a regional player in the automotive industry, particularly its broad distribution network in Malaysia combined with BYD's pioneering technology and expertise, we strive to deliver our innovative vehicles to Malaysian consumers and support the country's carbon reduction ambitions," Liu added.

The fully electric BYD Atto 3 is the first SUV built on BYD's advanced e-platform 3.0. It is specially designed as a high-performance EV.

The BYD Atto 3 will be available in two variants, with price starting from RM149,800 for the standard range and RM167,800 for the extended range.

Founded in 1995 as a rechargeable battery maker, BYD now boasts a diverse business scope covering automobiles, rail transit, new energy and electronics. It is currently listed in Hong Kong and Shenzhen.

Source: TheEdge - 9 Dec 2022

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