Counters in the segment saw increased buying momentum this morning, with KESM Industries Bhd leading the way with a 26-sen gain to RM8.40.

Others that have also benefited from the Miti announcement are Pentamaster Corporation Bhd which added four sen to RM4.94, Genetec Technology Bhd which gained two sen to RM2.83 and Hong Seng Consolidated Bhd which climbed up half a sen higher at 13.5 sen.

Greatech Technology Bhd was flat at RM5.10.

Miti announced in a statement yesterday that Tesla will establish a head office in Malaysia and introduce its service centres, which it has dubbed “experience centres”, as well as its “supercharger” network.

Minister Tengku Zafrul Aziz said in the statement that Malaysia will strategically leverage its established electrical and electronics ecosystem to make the country the preferred investment destination for technology related to electric mobility.

The entry of Tesla has been facilitated by Miti through the introduction of the BEV Global Leaders initiative, whose objective is to help boost demand in the local market and further promote the development of the entire ecosystem to support EV adoption.

“In addition, the initiative seeks to secure investments from leading global BEV manufacturing companies. Tesla is the first applicant of this initiative by Miti,” the ministry said in the statement yesterday.