KUALA LUMPUR: AMMB Holdings Bhd (AmBank Group) has been named as the preferred financing package provider for the purchase of the Tesla Model Y electric car that debuted today.
This is after the bank entered into a special tie-up with Tesla Inc. and is one of only two Tesla preferred financing providers in the country.
Group chief executive officer Datuk Sulaiman Mohd Tahir said the company is honoured to be selected by Tesla to be part of the only two preferred financing providers for the automotive company's electric vehicle models in Malaysia.
He said this new development augurs well with the bank's broader environmental, social and governance (ESG) agenda.
"For purchase of Tesla models Y, AmBank is offering one of the most competitive auto financing rates in the market which tips the scale when buyers home in on the most attractive financing package that suits their repayment plans," he said.
Apart from that AmBank is also partnering with AmGeneral Insurance Berhad to insure Tesla vehicles. "InsureMyTesla by Liberty Insurance will be the go-to insurance product coverage for these electric vehicles.
AmBank Group's AmGeneral Insurance Berhad merged with Liberty Insurance Berhad (LIB) recently, following LIB's 100 per cent acquisition of AmGeneral's shares," it said.
The AmBank financing package offered to Malaysians applies to all three variants of the Tesla Model Y launched.
The three variants are Tesla Model Y RWD priced at RM199,000, Tesla Model Y Long Range AWD priced at RM246,000 and the Tesla Model Y Performance AWD priced at RM288,000.
AmBank said in a statement that all prices of the vehicles are inclusive of SST.