Tesla may be preparing to establish itself in Malaysia as checks with SSM data revealed that Tesla Services Sdn Bhd subsidiary changed name in October 2022 to Tesla Sdn Bhd.
Tesla used to have a Financial Shared Services Center in Penang to support the EMEA and APAC regions. The subsidiary Tesla Services Sdn Bhd, which has been in existence since May 2017, used toto 25 countries. As a remote financial services hub, Tesla Services Sdn Bhd mainly employed accounting, finance and IT support staff for this purpose.
This subsidiary is now known as Tesla Sdn Bhd, and the ‘nature of business’ now registered with SSM now specifically explains the wholesale and retail sale of new motor vehicles, other service activities related to ground transportation and maintenance and repair of motor vehicles. Essentially a company that intends to carry out full-fledged motor vehicle 3S, no longer limited to accounting and finance.
Tesla Sdn Bhd has a paid-up capital of around RM3.6 million and 100% of the shares are owned by Tesla International BV. The company has four directors. One of them, Mr. David Jon Feinstein, has previously been identified as a director of Tesla’s Thai and Indian subsidiaries.
We last heard in May 2022 that Tesla was open to the idea ofwhich would be useful to official Tesla customers in Thailand and Singapore, but there was no mention of establishing an official sales and service presence here.
With this fresh new activity surrounding the Tesla Sdn Bhd subsidiary, could this mean that Malaysia will soon be an official sales market for Tesla?