Bermaz Auto to ride on EV growth

KUALA LUMPUR: Bermaz Auto Bhd has revealed some details of its plans for the electric vehicle (EV) segment while working towards turning around Kia and Peugeot by 2022.

In the line-up of EVs, Maybank Investment Bank Research said the group plans to bring in Kia's flagship EV6 (pic above) and Niro and Sportage, Peugeot's 3008, 508 and Mazda's MX-30.

This is subject to what the Malaysian EV policy has to offer. The Government is expected to announce it this month.

According to Maybank IB, Bermaz Auto has identified private charging operators to work with on the EV charging infrastructure to address range-anxiety issues.

The EV models will have subscription-based plans for batteries and key cost components of EVs to address cost/ warranty issues.

Meanwhile, Bermaz Auto remains committed to turning around Kia and Peugeot by addressing legacy issues.

It will locally assemble three Kia models namely the new Sportage, Carnival and Seltos, Maybank IB reported. The Sportage would come in petrol variant and a plug-in hybrid variant, it said.

"It will also introduce the new facelifted Peugeot 3008 & 5008 CKD models in July and 2008 in November or December."

The introduction of Mazda's new CX3 is on schedule for July, with a target of 1,500 to 1,800 units of sales in FY22.

Maybank IB has a "buy" call and target price of RM2.25 on Bermaz Auto.