DRB-Hicom and Geely together inked a Heads of Agreement (HOA) that sealed their commitment to jointly invest, manage, and develop the Automotive High-Tech Valley (AHTV) in Tanjung Malim.
The HOA was signed by DRB-Hicom group managing director Datuk Seri Syed Faisal Albar and Geely’s chief executive officer Daniel Li Donghui, and was witnessed by Prime Minister Datuk Seri Anwar Ibrahim at the Malaysia-China Business Forum, during his official four-day visit to China.
The AHTV, designed as a “smart city”, is set to become the hub for Next Generation Vehicles (NxGV) in the region, and is expected to attract investments worth an estimated RM32 billion over the next 10 years. It will occupy an area of approximately 1,000 acres, but will be expanded accordingly to cater for future needs.
Proton will be one of the main tenants of AHTV, with the national carmaker committed to moving its entire production operation to Tanjung Malim by 2026. Aside from Proton, AHTV will also include a “fully-fledged high technology global research and development centre”, alongside a manufacturing cluster, support services for the automotive ecosystem, and a research-based university to nurture new talents in areas of new and emerging technologies for the industry.
With the development of AHTV, Proton has committed to investing more towards new products and technologies, including new energy solutions and intelligent technologies.
“Proton is now in the second half of its ten-year business plan,” said Proton Chief Executive Officer, Li Chunrong. “Over the next five years, we aim to work even more closely with Geely and expand our offerings as the market for NEVs grows. This in turn will help develop the national automotive ecosystem and push Malaysia towards its target of being an NxGV hub.”
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“We will also expand our focus to include other aspects that support the industry. For example, charging infrastructure development is a priority for NEVs, so we will optimize synergy with Geely group of companies to enhance the NEV infrastructure for Proton and the ecosystem in Malaysia,” he added.
Geely’s EV sub-brand, Zeekr, has also been confirmed for Malaysia following the government’s visit to the carmaker’s Ningbo factory.
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