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AmBank Revs Up Its EV Play via special tie-up with giant American Electric Vehicle Manufacturer Tesla Inc. as Preferred Financing Provider in Malaysia

AmBank in Tesla Malaysia Launch Senior management of AmBank led by its Group Chief Executive Officer, Dato’ Sulaiman Mohd Tahir (third from left) at the Tesla Model Y launch at Pavilion Kuala Lumpur today. He is joined by Isabel Fan, Regional Director of Tesla Inc. (fourth from left)​

  • Tie-up with Tesla as preferred financial provider reinforces AmBank’s commitment towards sustainable mobility.
  • Entails a highly attractive lowest interest rate financing package for Malaysians purchasing Tesla Model Y
  • AmBank is one of only two Tesla Preferred Financing Providers in Malaysia
  • Liberty Insurance is also the insurance partner for AmBank, providing motor insurance coverage for every approved financing

Thursday, 20th July 2023 - AmBank has entered into a special tie-up with Tesla Inc. to offer a super attractive auto financing package for Malaysians purchasing the much-awaited Tesla Model Y electric car which officially debuted in Malaysia today. AmBank is one of only two Tesla Preferred Financing Providers in Malaysia.

The launch of Tesla Model Y in Kuala Lumpur marks the official entry of Tesla in the country under its Malaysian entity Tesla Malaysia which involves full-fledged bona fide sales, distribution, warranty, and after-sales services.

Group Chief Executive Officer of AmBank Group, Dato’ Sulaiman Mohd Tahir said “We are pleased to be selected by Tesla Inc. as one of only two Preferred Financial Providers for Tesla electric vehicle (EV) models in Malaysia which augurs well for our EV auto financing portfolio aligned with AmBank’s broader Environmental, Social and Governance (ESG) agenda. AmBank is proud to support Malaysia's aspiration to become carbon neutral by 2050 and in line with the Low Carbon Mobility Blueprint (2021-2030) framework that aims to shift Malaysia towards electrification in the transportation industry as a key strategy to reduce emissions, hence preferential financing rates will be offered for EVs. For purchase of Tesla models Y, AmBank is offering one of the most competitive auto financing rates in the market which tips the scale when buyers home in on the most attractive financing package that suits their repayment plans.”

“Tesla’s mission is to accelerate the world’s transition to sustainable energy. As part of Tesla's commitment to Malaysia, we have unveiled a comprehensive development plan for experience centre, service and support, and charging infrastructure in the country, aimed at delivering a seamless Tesla ownership experience. We’re committed and excited to help driving a zero emission and greener future for Malaysia,” said Isabel Fan, Regional Director of Tesla.

The AmBank financing package offered to Malaysians applies to all three variants of the Tesla Model Y launched today. The three variants are Tesla Model Y RWD priced at RM199,000; Tesla Model Y Long Range AWD priced at RM246,000 and the Tesla Model Y Performance AWD priced at RM288,000. All prices mentioned are inclusive of SST.

In addition to that, AmBank is partnering with AmGeneral Insurance Berhad to insure Tesla vehicles. InsureMyTesla by Liberty Insurance will be the go-to insurance product coverage for these electric vehicles. AmBank Group’s AmGeneral Insurance Berhad merged with Liberty Insurance Berhad (LIB) recently, following LIB’s 100% acquisition of AmGeneral’s shares.

Prospective buyers for Tesla Model Y may easily apply for financing via Tesla’s official website: https://www.tesla.com/en_my/modely/design#payment with a direct link to AmBank’s auto financing website page : https://www.ambank.com.my/eng/loans/#car.