Latest news with #eMO
The Star
01-07-2025
- Automotive
- The Star
Auto industry poised for subdued growth
PETALING JAYA: The automotive sector appears set for a more subdued 2025, with total industry volume (TIV) projected to normalise after last year's record high. Analysts expected a mixed outlook, shaped by softening consumer sentiment, rising competition, and policy uncertainty, but supported in part by new model launches and ongoing infrastructure development. BIMB Research revised its 2025 TIV forecast downwards to 790,000 units, a 2.5% cut from its earlier estimate of 810,000 units. It noted that the adjustment was prompted by weaker-than-expected momentum in the first quarter of 2025 (1Q25), attributed to soft consumer sentiment and lingering uncertainty over the timing of RON95 subsidy rationalisation. However, BIMB Research pointed to a potential sequential recovery in the second half of the year, underpinned by promotional activities, longer working days, and stable loan approval rates. Hong Leong Investment Bank Research (HLIB Research) projected a sharper decline, expecting TIV to fall to 750,000 units in 2025, down 8.2% year-on-year, compared to the Malaysian Automotive Association's (MAA) forecast of 780,000 units. HLIB Research remarked that current order backlogs have further dwindled in 2Q25 and this is expected to continue softening in subsequent quarters as consumer sentiment weakens in tandem with a slower economic outlook as well as petrol subsidy rationalisation in the second half of 2025 (2H25). The sector's performance in 1H25 reflected these trends. According to MAA, TIV in May 2025 rose 12.4% month-on-month to 68,000 units, driven by normalised working days after the April festive holidays. However, on a year-on-year basis, sales fell 3.2%, contributing to a 5% decline in year-to-date volume to 316,700 units. This was largely attributed to easing consumer sentiment following the record 816,700 units achieved in 2024. BIMB Research said it saw structural support for the sector from 'new model launches, rising electric vehicle (EV) popularity, and infrastructure buildout'. Key launches expected in the second half included Perodua's eMO battery electric vehicle, Proton's facelifted X50 and new Saga, and Honda's refreshed Civic. Chinese brands were also stepping up, with Chery's iCAUR electric sports utility vehicles set for an Asean debut in the third quarter and TQ Wuling planning a mass-market electric vehicle (EV) below RM100,000 by year-end. BIMB Research noted: 'This strong pipeline across ICE and EV segments is expected to drive demand and refresh the competitive landscape.' Both BIMB Research and HLIB Research maintained a 'neutral' stance on the sector. BIMB Research cautioned that the sector's recovery is expected to be uneven due to elevated borrowing costs, fragile supply chains, and pricing pressure from Chinese manufacturers. Similarly, HLIB Research said earnings were likely to fall in 2025 on the back of lower sales volume and higher operating costs (aggressive sales campaigns), but partially cushioned by the strengthening of the ringgit. On the EV front, BIMB Research highlighted that 'EV adoption will continue to expand structurally, particularly as the current completely built units import tax exemption is set to expire at the end of 2025'. It forecasts EV market share could reach up to 4% by year-end, driven by broader model offerings and stronger national brand participation. Still, achieving the government's 10,000 public charger target by end-2025 remained challenging, with monthly installations needing to average 730 units. The looming revision of the open market value-based excise duty for completely knocked down vehicles in January 2026 could spur frontloaded purchases in late 2025. BIMB Research noted that any delay or adjustment in the policy could 'further sustain demand momentum in 2H25'.
Nikkei Asia
09-05-2025
- Automotive
- Nikkei Asia
Malaysia's Perodua aims to localize 60% of parts for its first EV, says CEO
KUALA LUMPUR -- Malaysian national car brand Perodua will localize more than 60% of components for its first electric vehicle, which is slated to enter the local market by the end of this year, its chief executive said, as the Southeast Asian country aims to build supply chains for greener cars. Zainal Abidin Ahmad, president and chief executive of Perodua, officially Perusahaan Otomobil Kedua, told reporters on Thursday at the Malaysia Autoshow 2025 that the company's first EV, the eMO, will be locally assembled at its factory in Selangor near the capital, with production set to begin in October.
New Straits Times
08-05-2025
- Automotive
- New Straits Times
Perodua to finalise maiden EV production and launch in Q4
KUALA LUMPUR: Perusahaan Otomobil Kedua Sdn Bhd (Perodua) plans to finalise production of its first electric vehicle (EV) by October and launch it by the year-end. The EV, codenamed eMO, will initially be over 30 per cent locally produced at a new factory in Sungai Choh in Rawang, Selangor, said Perodua president and chief executive officer Datuk Seri Zainal Abidin Ahmad. Production will start at a rate of 500 units a month in the new battery EV plant, Zainal told a press conference after unveiling the EV prototype - presented in a half-cut form - at the Malaysian Autoshow 2025 (MAS 2025) here today. Perodua hopes to increase the local content to over 60 per cent after a few months of production with the localisation of critical components, he added. Perodua eMO's final prototype headlined the MAS 2025 that opened to the media today at MAEPS Serdang before making opening its doors to the public on Friday. This is the third part of Perodua's Electric Motion Online and the final rehearsal before the launch of the production car by December. Perodua first introduced the eMO-II concept at the Kuala Lumpur International Mobility Show (KLIMS) late last year. The eMO-II five-door hatchback from KLIMS has morphed into a small B-segment SUV at MAS 2025. In February, Perodua floated a possible RM80,000 starting price for the company's EV, but without the battery. Zainal said the EV is targeted at the younger buyers and small families, enabling them to enjoy an affordable electric ride. He now confirmed that Perodua EV will offer Battery-as-a-Service (BaaS) battery leasing, a first in Malaysia. The battery is a lithium iron phosphate unit sourced from CATL, with a target range of between 400km and 410km. The performance target is a 0-100 km/h time of between six and seven seconds and top speed of around 165 km/h. "The battery will be leased to buyers. The 'rental' fee is the minimum, and based on surveys by Perodua, many are in favour of this method," Zainal said. He added that the EV battery leasing scheme lowers the cost of the car and ensures that owners will always have a battery in the best condition. The EVs long-term value was a key priority, particularly regarding battery quality and resale price, he said. "If people buy an EV but are not confident in the battery quality, the car's value will drop after eight years. "So, we are ensuring that even after eight or nine years, the car will still retain its value because we control the battery quality. You can always get a new battery from us," he added.
