02/12/2025

BIZ & FINANCE TUESDAY | DEC 2, 2025

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Perodua rolls out QV-E, Malaysia’s first homegrown EV

KUALA LUMPUR: Perusahaan Otomobil Kedua Sdn Bhd (Perodua) has taken a decisive step into Malaysia’s electric vehicle (EV) market with the launch of the QV-E, the nation’s first homegrown battery electric vehicle (BEV), sig nalling the company’s commitment to a fully integrated, localised EV ecosystem. Describing it as “a significant learning process for the company and the industry”, president and CEO Datuk Seri Zainal Abidin Ahmad said the QV-E is as much about building human capital and industry capability as it is about producing vehicles. “We are very proud to present an electric car made by Malaysian hands. This model represents the culmination of collaboration be tween our engineers, local vendors and academic partners, all working together to build something uniquely Malaysian,” he said during the launch yesterday. Zainal Abidin highlighted that the project reflects more than just a product launch, saying that the EV development involved close colla boration with local universities, including Universiti Putra Malaysia, Universiti Kuala Lumpur and Universiti Tenaga Nasional, to cultivate technical expertise in EV and battery technologies. On the supply side, 52 local vendors are currently involved in producing components for the QV E, a figure that Zainal Abidin expects to grow to 70 by 2030. The company is targeting 50% component localisation by early 2026, rising to 70% by the end of the decade, in line with its strategy to strengthen Malaysia’s domestic Ű BY DEEPALAKSHMI MANICKAM sunbiz@thesundaily.com

o CEO says project reflects more than just a product launch, it’s a significant learning process for the company and the industry

Kenanga Investment Bank Bhd said the sector continued to demonstrate earnings resilience following the recent results season, although most banks reported a sequential dip in net interest margins, indicating that margin pressures may persist until the first half of calendar year 2026, when long-term deposits mature. It said Maybank, CIMB, RHB Bank and AmBank benefited from write backs arising from successful corporate restructurings, enabling them to KUALA LUMPUR: AmBank Group and Huawei Technologies (Malaysia) Sdn Bhd have signed a RM350 million supply chain financing deal to advance Malaysia’s digital infrastructure. In a joint statement yesterday, AmBank Group said the financing underscores its commitment to support the nation’s long-term digital and economic aspirations. “Through this collaboration, AmBank Group aims to support the rollout of Malaysia’s second 5G network and strengthen the country’s digital infrastructure. programme to recycle or repurpose batteries safely,” he said. A digital ecosystem supports the QV-E through the Perodua Secure mobile application, offering con nectivity, mobility-as-a-service func tionality and monitoring features. Zainal Abidin emphasised that these systems are critical for integrating the QV-E into a wider EV ecosystem, beyond just the vehicle itself. Perodua has incorporated ad vanced safety features, including the Child Presence Detection System, which monitors vital signs and movement in the second-row seat and footwell area, even under fabric covers. “Every feature in the QV-E has been created with advanced safety, comfort, and functionality in mind,” Zainal Abidin said. “It is a product of detailed research and a commitment to quality, representing the Malaysian industry at its best.” Zainal Abidin outlined a clear long term EV strategy for Perodua, targeting 20% of total sales by 2030 with eventual expansion to 80%, supported by ongoing government collaboration.

automotive ecosystem. “This initiative not only reduces reliance on imports but also opens opportunities for local investment and improves workforce capa bilities,” Zainal Abidin said. “Since Perodua’s establishment, we have spent RM119 billion on local com ponents, including RM11 billion this year alone, underscoring the scale of impact our EV programme will have.” The QV-E, which carries a retail price of RM80,000 excluding insu rance and battery, was developed at the company’s Smart Mobility Plant over 28 months. Acknowledging that battery costs and longevity are major concerns for EV owners, Zainal Abidin unveiled Perodua’s Battery as-a-Service model, which sepa rates the vehicle body from the battery and offers a lifetime battery guarantee. “This concept is our solution to reduce owner anxiety. We are also introducing a battery passport system to track battery composition and usage, as well as an end-of-life

Perodua’s QV-E, which retails at RM80,000 excluding insurance and battery, was developed at the company’s Smart Mobility Plant over 28 months. – BERNAMAPIC

motive industry and set a blueprint for homegrown EV success in Southeast Asia, Zainal Abidin said. He concluded by emphasising the importance of cooperation and long term commitment from all stakeholders. “This achievement is the result of strong strategic collaboration between Perodua, the government, local vendors, universities and partners. Let us continue to work together to strengthen Malaysia’s EV ecosystem, advance green mobility and build a sustainable future for the country,” he said.

reinforce their provisioning buffers. “While banks with regional ex posure have increasingly presented results on a constant-currency basis to normalise the effects of a stronger ringgit, domestic operations have remained stable and continued to support overall performance. “We maintain our ‘Overweight’ stance on the sector,” it said. Meanwhile, Hong Leong Investment Bank Bhd (HLIB) said system loan growth remained resilient in October 2025 at 5.4% year-on-year, underscoring stable lending activity despite a softer deposit backdrop due to weaker current account and savings account and foreign currency inflows. “Leading indicators have moderated. “The group will facilitate foreign direct investment by delivering customised financial solutions that meet the needs of multinational corporations operating in Malaysia and drive national digital transformation in alignment with Malaysia’s vision for a future-ready, technology-driven eco nomy,” the statement said. AmBank Group said the banking relationship highlights its role as a trusted financial partner to global technology leaders and reaffirms the bank’s dedication to enabling strategic foreign direct investment (FDI) that He stressed that the launch of the QV-E is symbolic of a broader trans formation: “From Malaysian hands comes Malaysian mobility. Our goal is not just to build a car, but to develop a comprehensive EV ecosystem, one that supports local vendors, generates new skills, and strengthens the national economy.” With production starting at 500 units per month and plans to ramp up to 3,000 units by the third quarter of 2026, Perodua is poised to make a tangible impact on the local auto

Analysts maintain ‘overweight’ call on banks KUALA LUMPUR: Analysts have maintained their “Overweight” calls on the banking sector, citing resilient earnings, loan growth and attractive dividend yields despite ongoing margin pressures. Interest spreads narrowed further owing to lower loan yields, and we expect NIM compression to persist into the fourth quarter of 2025 before elevated deposit costs eventually stabilise,” it said.

HLIB maintained its “Overweight” stance on the sector, supported by undemanding valuations, dividend yields exceeding 5% and a favourable risk-reward profile. It reiterated “Buy” ratings on Affin, Alliance Bank, AmBank, CIMB, May bank, Public Bank and RHB.

“The sector continues to offer compelling value, currently trading at about minus two standard deviations from its pre-Covid-19 five-year mean price-to book ratio despite delivering comparable return on equity,” it said. – Bernama AmBank, Huawei in RM350m supply chain financing deal

contributes to Malaysia’s economic growth. AmBank Group managing director of business banking Christopher Yap said the agreement underscores their long-standing banking relationship with Huawei Malaysia and their shared vision of driving Malaysia’s digital transformation. “This RM350 million supply chain financing facility demonstrates the progressive growth of our partnership with Huawei Malaysia and our confidence in supporting Malaysia’s digital ambitions at scale.” – Bernama