CKD iCaur 03 in Malaysia: Is a 279 PS AWD Electric SUV for RM 129,880 a Smart Buy?

From its launch in Malaysia as a fully built unit (CBU) in September 2025, to the commencement of local assembly in January 2026, and finally the official line-out of the CKD version at the Chery Corporate Malaysia factory in Shah Alam, Selangor in May, the iCaur 03 has achieved the transition from “imported” to “locally manufactured” in less than a year.

For a new model, what does CKD signify? Has the price dropped? Have specifications been compromised? Is it still the right time to buy?

This article breaks down the figures for you.

What's new about the CKD iCaur 03?

Price: RM 129,880, Essentially In Line with the CBU version

The CKD version of the iCaur 03 is currently available only as an iWD all-wheel-drive model, with a formal on-the-road price of RM 129,880 (excluding insurance). This price remains consistent with the iWD price (RM 129,800) during the 2025 CBU period, which benefited from tax exemptions.

Why has the price not risen following the expiry of the CBU tax exemption? The key lies in the continued government tax incentive for locally assembled electric vehicles via CKD, a policy valid until December 31, 2027. In effect, iCaur has used the CKD route to “lock in” the pricing.

By contrast, the 2WD rear-wheel-drive variant, originally positioned as the entry-level model, is currently temporarily absent. The 2WD price during the 2025 CBU period was RM 119,800. If your budget is constrained, you may need to wait—the manufacturer has committed to resuming 2WD supply in phases in the near future.

Purchase Package: Free Home Charging Pile + Complimentary Maintenance

Purchasing the CKD version of the iCaur 03 includes a package comprising a 7kW AC home charging unit (worth approximately RM 3,400) and 2 years or 45,000 km of free scheduled maintenance. For first-time EV buyers, the home charging unit solves the core issue of “how to charge upon returning home,” a value well worth factoring in.

Performance and Range: 279 PS, 0-100 km/h in 6.5s, 418 km NEDC

The CKD version of the iCaur 03 retains identical mechanical specifications to the CBU version.

Powertrain: Equipped with a dual-motor all-wheel-drive system (front and rear), delivering a combined output of 279 PS (205 kW) and 385 Nm of torque. The 0-100 km/h acceleration time is merely 6.5 seconds, with a top speed of 150 km/h.

Battery and Range: It is fitted with a 69.8 kWh lithium iron phosphate (LFP) battery, offering a range of 418 km under the NEDC standard. LFP batteries offer superior stability and safety in high-temperature environments compared to ternary lithium batteries, a distinct advantage for Malaysia’s consistently hot climate.

Charging Capability: Supports 6.6 kW AC slow charging and 80 kW DC fast charging. The manufacturer claims it can charge from 30% to 80% in just 30 minutes. Additionally, it features a 3.2 kW V2L (Vehicle-to-Load) output function, capable of powering outdoor appliances—highly practical for camping and picnics.

Configuration Highlights: 15.6-inch Screen and Level 2 ADAS

The CKD version maintains its consistently high specification level regarding features:

Exterior: Standard equipment includes 19-inch wheels, LED headlamps and taillight clusters, and a panoramic sunroof. It carries forward the “Boxy Retro Classic” design language, with a boxy, rugged body contour that boasts high distinctiveness in the local EV market.

Interior and Comfort: Features a 15.6-inch central control touchscreen supporting wireless Apple CarPlay and Android Auto; a 9.2-inch digital instrument cluster; a 50W wireless charging pad; dual-zone automatic climate control with rear air vents; front seats equipped with cooling, ventilation, and massage functions; and an Infinity 12-speaker surround sound system.

Safety and Driver Assistance: Equipped with 6 airbags; a comprehensive Level 2 ADAS suite including Full-Speed Adaptive Cruise Control (ACC), Automatic Emergency Braking (AEB), Lane Departure Warning (LDW), Lane Keeping Assist System (LKAS), and Blind Spot Monitoring (BSM); and a 360-degree panoramic parking camera system plus an OEM panoramic dashcam.

Optional Package: Buyers can opt for the Black Phantom Edition exterior kit for an additional RM 20,000, which includes matte black body paint, exclusive aerodynamic body kits, a roof rack, and side ladders.

Warranty: Battery Warranty Upgraded to 10 Years / 200,000 km

This is one of the most significant policies for the iCaur 03.

The standard warranty is 7 years or 150,000 km for the entire vehicle. For core components such as the high-voltage battery, drive unit, and electronic control systems, the warranty has been upgraded from the original 8 years / 160,000 km to 10 years / 200,000 km.

Crucially, the manufacturer promises: If the battery health (State of Health) test registers below 60% during the warranty period, a direct one-for-one battery replacement will be provided. For buyers concerned about EV battery degradation, this policy offers significant peace of mind.

Market Performance: Brand Ranks Third in EV Sales

The market performance of the iCaur 03 has already proven its product strength.

In the first four months following its 2025 launch, the iCaur 03 recorded 836 units in Malaysia, becoming the 14th best-selling EV model in the country. Momentum continues into 2026—in April alone, total iCaur brand registrations reached 547 units. As of May 2026, Chery Group (including the iCaur brand) has become Malaysia's third-largest EV brand, driven by the strong performance of the iCaur V23 and iCaur 03.

For a new brand in the Malaysian market with less than a year of operation, this achievement is notably impressive.

Purchase Recommendations

Suitable Buyers:

Buyers Seeking a Distinctive Exterior—The “box” design is unique in the RM 130k segment, guaranteeing a high turning factor.

Users Needing All-Wheel Drive and Light Off-Road Capability—While not intended for “hardcore off-roading,” it offers superior capability on light off-road trails and slippery wet roads compared to standard front-wheel-drive SUVs.

Buyers with High Expectations of Features—15.6-inch large screen, ventilated and massaging seats, Infinity audio system, panoramic sunroof; nearly everything this price segment can offer is included.

Those Concerned with Warranty and Ownership Costs—The 10-year/200,000 km warranty for the powertrain + the one-for-one battery replacement promise represents a top-tier offering in the Malaysian EV market.

Buyers Recommended to Wait:

Buyers with a Budget Under RM 120,000—The 2WD version is currently unavailable. If your budget is tight, you may wait for the manufacturer to resume 2WD supply before making a decision.

Users Frequently Undertaking Long-Distance Inter-State Travel—With an actual range of approximately 334-355 km under WLTP standards, combined with the fact that the DC fast-charging network is still under development, long-distance trips require careful planning of charging stops.

Buyers Concerned About After-Sales Network Coverage—As a new brand, iCaur's dealer network is still expanding and still lags behind established local brands like Perodua and Proton.

Quick Competitor Comparison:

*Note: eMas 7 price is a limited-time promotional offer, on-the-road price in Peninsular

The core advantages of the iCaur 03 lie in its all-wheel drive + 279 PS power + distinctive design, with no direct competitor at the RM 130k level. Although the facelifted BYD Atto 3 Premium offers stronger power (313 PS) and longer range (510 km WLTP), its price is RM 9,000 higher. The Proton eMas 7 offers a lower entry price point.

Conclusion

The launch of the iCaur 03 CKD marks that this young Chinese brand has truly put down roots in Malaysia.

From CBU to CKD in less than a year, with no price increase, no specification cutbacks, and even upgraded warranties—this is undeniably good news for consumers. For RM 129,880 to secure a 279 PS all-wheel drive pure electric SUV, complete with a 7kW home charging unit, 2 years of complimentary maintenance, a 10-year powertrain warranty, plus the unique "boxy" exterior design, the value proposition is clearly compelling.

Of course, the absence of the 2WD version means the entry threshold is temporarily higher, and the actual range will incur a certain reduction in Malaysia's hot climate. However, among EVs in the same price segment, the iCaur 03's combination of “personalisation + high specification + robust warranty” indeed provides a new option distinct from mainstream choices.

If you are considering a pure electric SUV in the RM 120k-130k price bracket, the iCaur 03 is worth a visit to the showroom for a closer look and a test drive. After all, data can only tell you what it “can” do, while a test drive tells you if it suits you.