Tesla Cancels New Factory Plan in ASEAN Region

TapTechNews August 12th, according to a report by Thailand's The Nation on August 6 citing an unnamed official source, Tesla has cancelled its plan to build a new factory in Thailand, Malaysia or Indonesia and has withdrawn the team in charge of the project, and then there were rumors that Tesla has cooled off in the ASEAN region.

Malaysia's Minister of Trade, Tengku Zafrul Aziz, responded: In fact, we had discussions with Elon Musk to attract investment, but Tesla never promised to open a factory here.

TapTechNews noted that the Malaysian official press release on July 20 stated that Tesla will carry out a strategic expansion to the Malaysian market, launch Model 3 and Model Y models, and establish a network of fast charging stations and regular charging stations at strategic locations in Malaysia.

In addition, Tesla will establish a local headquarters and service centers, experience centers, etc. in Malaysia.

According to consulting firm EY, by 2035, the value of the Southeast Asian automotive market could be as high as $100 billion (TapTechNews note: currently about 717.457 billion yuan).