RHB Research said in a sector update there are currently no EVs priced below RM100,000 on the road with insurance in Malaysia given that the Ministry of international Trade and Industry's approved permit policy prevents the importation of EVs with a lower price tag.
RHB reported that the model has been moderately popular, although it believes consumers may continue to opt for cheaper internal combustion engines. Given Tesla's reputation in the EV and autonomous driving space, the research firm said these prices are attractive, and could take market share away from other marques such as Hyundai's Ionic 6 at RM290,000 a unit and Kia's Niro EV at RM256,000 each.
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