Permodalan Nasional Bhd (PNB), Malaysia’s largest asset manager, is considering merging Sime Darby Motors and Perusahaan Otomobil Kedua – a unit of UMW Holdings – to create a US$2.15 billion domestic auto giant. This move is aimed to spur the development of the country’s electric-vehicle sector. In addition, Sime Darby is acquiring a 61.2% stake in UMW for US$769.40 million.