The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
Porsche AG is setting up an assembly plant in Malaysia as the German automaker looks to make the nation its Southeast Asian hub, the Edge weekly newspaper reported.
Porsche will partner with Inokom Corp., a unit of Sime Darby Bhd, in venture, which will be located in the northern state of Kedah, the Edge said. The facility will be company’s first assembly plant outside Germany, the report said.
The move by Porsche will be a much-needed boost to Malaysia, which lagged behind Indonesia and Thailand in securing big investments by global automakers.
Christian Weiss, Porsche’s deputy director of corporate communications, said Southeast Asia has great potential and the firm is continuously examining options for further growth in this market, the Edge reported.