Geely Automobile Holdings Ltd, a Chinese automaker, has entered the Malaysian electric vehicle (EV) market with its Smart #1 EV, competing against established players Tesla and BYD.
The Smart #1 EV, available in three variants, is priced from RM189,000 to RM249,000, similar to Tesla’s Model 3 and BYD’s Atto.
Despite Malaysia’s small EV market, Geely is making a strategic move, unveiling its Smart #1 EV in Kuala Lumpur and investing in a high-tech automotive city in Tanjung Malim.
The Smart cars will be distributed in Malaysia by Pro-Net, a subsidiary of Proton, in which Geely holds a 49.9% stake. Pro-Net also plans to expand distribution to Thailand and the east Malaysian states of Sarawak and Sabah, targeting 10% of the country’s EV market share.
Proton’s CEO, Li Chunrong, confirmed the company’s future ambitions to manufacture its own EV while focusing on local assembly for Smart EVs in Malaysia.