PETALING JAYA: China’s automobile brand Chery has officially entered the Malaysian market with its two electric vehicles (EV) flagship models, the Tiggo 8PRO and Omoda 5.
The Minister of Investment, Trade and Industry Malaysia (Miti) Senator Tengku Zafrul Tengku Abdul Aziz who was present highlighted the significance of the automotive sector’s shift towards mass electrification in line with the country’s national ESG and net-zero agenda.
“The Asean EV market is forecasted to grow at almost 33% per annum to US$2.7 billion by 2027. The introduction of Chery’s new EV models will support Malaysia’s efforts to decarbonise our economy, and will contribute to the growth of the EV market in Malaysia.
“We are also proud that Chery has chosen Malaysia as the Regional Hub for Right-Hand Drive (RHD) Vehicles for their Southeast Asian and Oceania markets. MITI and its agencies further welcome Chery’s commitment to invest an initial capital of RM170 million for their expansion here, which will provide 4,000 high paying, high-skilled jobs for Malaysians in the next five years,” he said.
Chery International Vice President and President of Chery Malaysia Shawn Xu (pic) added, “Chery strongly believes that the prospects of the Malaysian automotive market are highly potential. Chery is committed in growing together with the automotive industry in Malaysia”
The company said that its deepening presence in Malaysia marks a new stage of its internationalisation process in accelerating its global expansion.
Chery stated that as the first Chinese automobile company to export complete vehicles, CKD kits, engines, and manufacturing technologies and equipment abroad, it has been steadfast in implementing its international market strategy for over 20 years.
Chery said that Malaysia with its advantageous geographical location and favourable economic environment is a strategic market that it values greatly.
The company plans to launch Omoda 5 EV and Tiggo 7 Pro in 2024, catering to the diverse needs of the local population and driving the Malaysian automotive market into a new phase of development.
In 2022, Chery achieved a growth of 68% in overseas markets compared to the previous year, with annual sales surpassing 450,000 vehicles. This year, Chery said it will continue to accelerate its internationalisation process, with Omoda 5 alone set to expand its presence in over 30 countries.
