Malaysia's Proton launches its first electric vehicle

KUALA LUMPUR (Reuters) - Malaysian autos firm Proton launched its first electric vehicle on Monday, the latest entry into the local market as the country seeks to boost EV and hybrid EV use and gain a foothold in the global supply chain.

Proton is majority owned by Malaysian conglomerate DRB HICOM, with the remaining 49.9% stake held by Chinese auto maker Zhejiang Geely Holding Group.

The Proton e.MAS 7's introduction in Malaysia follows that of BYD, Tesla and Stellantis in partnership with Leapmotor.

The e.MAS 7 basic and premium models will be priced at 109,800 Malaysian ringgit ($24,674) and 123,800 ringgit, respectively.

Malaysia wants EVs and hybrids to account for a fifth of new car sales by 2030. It reported a 112% rise in the sale of battery EVs in the first half of the year.

Prime Minister Anwar Ibrahim at the launch said he hoped in future the e.MAS 7 could be manufactured in Malaysia and more local firms could be involved in the production of EVs.

($1 = 4.4500 ringgit)

(Reporting by Ashley Tang; Editing by Martin Petty)

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