Chery to set up assembly plant in Malaysia

Bernama (Kuala Lumpur) - Chery Holdings (M) Sdn Bhd will invest US$300mil (RM972mil) to set up an assembly plant in Malaysia within five years.

Chery Holdings (M) chief executive officer Paul Ng said the carmaker intended to make Malaysia its major regional hub for right-hand drive models in South-East Asia.

"We have a stable Government, stable economy and consumers here are more receptive," he told Bernama.

The company planned to assemble vehicles in completely-knocked-down format to be exported to various countries in South-East Asia.

As to when Chery would start building the plant, Ng said the auto giant was still considering several factors, including a framework before building the plant.

"Construction of the plant would take 2 years and installing the machines and equipment would take another 2 years. This is not only my decision but also Chery China's decision, our local directors and both governments."

"I can't speculate (on the time) because there are so many things to consider at the moment,: Ng added.

Chery currently has over 50 direct sales outlets and allied dealerships in the country.