Automotive industry giants have been making big moves in the ASEAN region as of late. The most recent one is German carmaker Porsche, which is reportedly setting up a new assembly plant in Malaysia.
According to a report by Reuters citing The Edge, Porsche will build its new plant in partnership with Inokom Corporation, a subsidiary of Sime Darby Motors—the automotive business unit of trading conglomerate Sime Darby Bhd.
Inokom Corporation is expected to build the new facility in Kedah, a northern state of Peninsular Malaysia. It will be Porsche’s first assembly plant outside of Germany.
A separate report by Bloomberg says that Porsche’s move will serve as a “much-needed boost” for Malaysia, as the country has lagged behind neighboring countries such as Indonesia and Thailand in securing sizeable investments from big-ticket automakers.
So, what does this mean for markets in the region? Will we get more affordable sports cars here? Unfortunately, we’ll have to wait a bit more before we find out because Porsche has yet to issue a formal statement on the matter. If and when it does, we’ll keep you posted, so watch this space.
