KUALA LUMPUR: Sime Darby Bhd is set to invest RM500 million to establish a wide network of China's biggest electric-vehicle maker BYD Co showrooms across the country.
A total of 20 showrooms is expected to be open by the end of next year by Sime Darby's automotive arm Sime Darby Motors (SD Motors), with 2024 seeing double the amount.
The first of its planned showrooms is slated to open in the middle this month at TREC KL on Jalan Tun Razak here.
This will be followed by three more at Ara Damansara, Penang and Johor by June next year.
The partnership with legendary investor Warren Buffet-linked BYD is part of SD Motors' commitment to accelerating the nation's future transition to electric vehicles (EVs) and low carbon mobility.
This also in turn contributes to the expansion of BYD's growing global presence.
"In line with our aim to be a leader in EV with a view towards propelling Malaysia's EV aspirations, we are excited to embark on this new chapter with BYD following our success in Singapore.
"The half a billion ringgit set to be invested will support our aggressive expansion plans for the brand here while reflecting our belief in the brand's universal appeal," said SD Motors managing director Andrew Basham.
"BYD's line up of world class vehicles which feature premium specs at an attractive price point is set to be a game-changer to spur EV adoption among Malaysians," he added.
Accompanying the expansion plan is the launch of the BYD Atto 3 model which is said to have a travel range of 480km on a single charge.
It is the first fully electric sports utility vehicle (SUV) built on the brand's advanced e-platform 3.0.
Available in two variants, the SUV is priced from RM149,800 for the Standard Range and RM167,800 for the Extended Range.
BYD Asia Pacific auto sales division general manager Liu Xueliang said the brand strived to deliver its innovative vehicles to Malaysian consumers and support the country's carbon reduction ambitions.
This is by drawing on the, combination of SD Motors' proven track record and capabilities as a regional player in the automotive industry, particularly its broad distribution network in Malaysia, and BYD's technology and expertise.
"We are pleased to strengthen our partnership with SD Motors to enter the Malaysian market as part of our vision for a sustainable future powered by, electrification," he added.