Sime Darby poised for EV push when Malaysian market condition favours
Shaun · Jun 10, 2021 02:47 PM
Chief Financial Officer (CFO) of Sime Darby, Mustamir Mohamad, said in a report by The Edge Markets that the company is in a position to distribute more electric vehicles (EVs) when market conditions are favourable.
He added that the factors influencing the speed of EV adoption include government regulations, tax incentives, and infrastructure support.
"We are fortunate because our businesses span 18 countries, which gives us the opportunity to see how the EV trend develops in accelerated markets such as (mainland) China, Hong Kong and Singapore and to bring forth some of these learnings to our other markets such as ASEAN," he said.
With brands like BMW, Porsche, Hyundai, and Jaguar-Land Rover – who are all developing their own EV line-ups – under Sime Darby’s belt, the company is in a good position to roll out its EV products when the market is ready, he said.
"Over the next five years for example, there will be a lot of development when it comes to EV and the government needs to help us out in terms of incentives and infrastructure," he added.