BYD Auto to Build Plant in Malaysia
The Chinese company will start a partnership with local Berjaya Corporation Bhd (BCorp) for the development of the plant, which will build BYD Auto’s FO right hand drive 1.0-liter engine model destined for the Malaysian and other Asian markets. For BCorp, this is just the start of a more elaborate expansion plan.
"We hope the government will be open to this idea as BYD Auto is a leading car manufacturer and this represents multiple opportunities for the local car industry," BCorp's executive director Datuk Francis Lee said.
BCorp wants to finalize an agreement with BYD Auto by the end of the year, with the investment to include a feasibility study on the conversion of the F0’s left hand drive version to right hand drive and the research and development required by this.
According to the aforementioned source, Berjaya is planing to carry out contract manufacturing for BYD Auto’s F0 model at local plants. In the future, the company also aims to bring electric BYD Auto models to the Malaysian market - this move would also attract incentives from the government.
BYD Auto is aiming to gain a five percent market share in the right-hand drive passenger car market for the Asian countries, Australia, the UK, New Zealand, South Africa and others.
Through its gasoline-powered cars, BYD Auto is on its way of becoming China’s forth largest car manufacturer by volume. The carmaker, which is backed by US billionaire Warren Buffet, also wants to become the greatest name on the alternative energy vehicles market.