Thailand’s Board of Investment (BOI) has approved investment privileges for Hyundai to set up plants in the country to manufacture battery electric vehicles (BEV) and battery modules. Hyundai would initially invest THB 1 billion (RM 130 million) in the project with Thai partners, Thonburi Automotive Assembly Plant Co Ltd and Thonburi Energy Storage Manufacturing Co Ltd. The Hyundai plants would begin operations in 2026 while the BOI would work closely with Hyundai to select suppliers of key part

CY Foong

Aug 8, 2024

Honda has hit an all-time high quarterly operating profit of 484.7 billion Yen (~RM 14.9 billion) for the first quarter of its financial year ending 31-March 2025 (FY2025). The figure is 22.9% higher than the same April – June quarter in FY2024. Honda’s operating margin also improved to 9%, up from 8.5% in the same quarter of the previous financial year. Honda attributes the strong performance to increased sales of motorcycles in India and Brazil, strong demand for its hybrid cars, and a weak Ye

Hans

Aug 8, 2024

Autocar reports that Proton is "on the verge of a major global export expansion" that will see the Malaysian carmaker begin or restart sales in several right-hand drive (RHD) markets, reports UK news outlet Autocar. Quoting an anonymous source close to its CEO, Li Chunrong, the report states that the Geely-owned homegrown carmaker could return to the UK, a market the brand was in from 1989 to 2014, as well as Australia and New Zealand. The report also states that "new RHD markets" throughout Asi

Sanjay

Aug 8, 2024

Following a report by Thailand's The Nation newspaper alleging Tesla scrapping plans to build factories in the ASEAN region, including Malaysia, a source from the Ministry of Investment, Trade and Industry (MITI) dismissed the report as unofficial. A MITI source told FMT, “This report is not an official statement from Tesla, but quotes an unnamed source. Confirmation on the report would have to come from Tesla.” In the report by The Nation, an unnamed source close to the Kingdom’s investment bod

CY Foong

Aug 8, 2024

Fuel price movements in Malaysia from 8- to 14-August 2024 are as follows: Fuel Price Update 8- to 14-August 2024 RON 95 RM 2.05 RON 97 RM 3.47 RON 100 RM 5.00 Shell V-Power RM 6.30 Diesel EURO 5 B10 RM 3.30 (-5 sen) Diesel EURO 5 B7 RM 3.50 (-5 sen) Follow fuel price live updates: Petrol Price Malaysia

Sanjay

Aug 7, 2024