Categories: Motors

Porsche will open its first factory outside Europe, in Malaysia

German luxury carmaker Porsche will open its first factory outside Europe next year in Malaysia, said officials, seeking to meet strong demand in the country.

The manufacturing site in the northern state of Kedah will carry out final assembly of specific models for the local market, the company and Malaysian officials said.

Malaysian Trade Minister Azmin Ali said the move was a “strategic decision by Porsche signifying its commitment to build a long-term presence in” Southeast Asia.

Albrecht Reimold, a board member of the Volkswagen-owned brand, said the new plant, being established in collaboration with a local partner, was a “standalone project and modest in size and capacity”.

But he added that “it signals our willingness to learn and adapt to specific local market conditions”.

Currently, those in Malaysia wanting to buy a Porsche have to pay high tariffs for imported vehicles. Other foreign carmakers have long operated assembly plants in the country to serve the local market.

Malaysia has a fast-growing middle class and has enjoyed robust growth rates in recent years, although a serious coronavirus outbreak has hit the economy hard.

(Main image credit: AFP PHOTO / GABRIEL BOUYS)

This story was published via AFP Relaxnews.

PrestigeOnline Singapore

Recent Posts

New York is the most Instagrammable city in the fall

On Instagram it's the colours of autumn that are now in the spotlight. And the…

October 23, 2021

Mike Simpson on his game-changing role in building Asia’s yachting industry

If one man could claim responsibility for affluent Asians’ growing passion for yachting and the…

October 22, 2021

High blood pressure in young adults has been linked to dementia later in life, according to new research

Taking care of your health at any age typically means getting regular exercise and eating a variety of…

October 22, 2021

How sustainable caviar is produced and consumed

The image of caviar is changing. Annabel Tan finds out how the treasured delicacy can…

October 22, 2021

Digital technology: friend or foe against climate change?

From the energy that goes into making smartphones to the fact that even emails create…

October 22, 2021

Where to go in France: Emily In Paris Season 2 gives us some ideas

Season 1 of Emily In Paris followed Emily Cooper, an American from Chicago, who struggles with French mannerisms…

October 22, 2021