Tesla (NASDAQ:TSLA) officially launch sales of their electric vehicles in Malaysia this week, marking another milestone in the automaker's ongoing efforts to broaden its global presence.
Over the years, the EV giant has dedicated itself to expanding its sales to new markets, aiming to spearhead the electric vehicle revolution in as many countries as possible.
Asia holds significant importance for Tesla, with its strong market presence, especially due to its operation of Giga Shanghai in China. The facility serves not only as a production hub for vehicles targeted at this region but is also known for manufacturing some of Tesla's most well-crafted cars.
Preparations for Tesla's entry into the Malaysian market began in February, following the approval from the country's government to import battery electric vehicles.
“We are pleased by Tesla’s decision to establish its presence in the electric vehicle (EV) ecosystem in Malaysia. This demonstrates Tesla’s confidence in our economic fundamentals and conducive business environment,” said Malaysia Minister of International Trade and Industry Tengku Datuk.
Tesla received 10,000 Model Y orders just 96 hours after launch in Malaysia.
Shares of TSLA are up 1.55% in afternoon trading on Friday.