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Stock impact report

Xpeng in talks to localise production in Malaysia [Yahoo! Finance]

Magna International, Inc. (MGA) 
Last magna international, inc. earnings: 2/21 05:00 am Check Earnings Report
US:NYSE Investor Relations: magna.com/investors
Company Research Source: Yahoo! Finance
According to local reports, Xpeng is in discussions with EPMB to collaborate on localising vehicle assembly in Malaysia by 2026, as the company steps up its expansion into overseas markets. Xpeng is looking to make use of EPMB's available plant capacity to launch local production. EPMB is a manufacturer of plastic and aluminium components, including corner and fuel tank assemblies, frames, and interior and exterior panels, supplying local automakers such as Perodua, Proton, Honda, Mazda, and Toyota. In 2022, the company began assembling battery-powered scooters for sale across South-east Asia, and later added production of batteries and battery swapping equipment. Xpeng confirmed it plans to make Malaysia a key production location in the ASEAN region for right-hand drive vehicles. The company currently sells the G6 and X9 models in Malaysia, which it currently imports. Xpeng began assembling the X9 model in Indonesia in July, becoming the company's first overseas production bas Show less Read more
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