Malaysian Prime Minister Datuk Seri Anwar Ibrahim announced that Chinese automobile manufacturer Geely with invest USD 10 billion in Malaysia to turn Tanjung Malim into the region’s largest auto city. Although not specified, the auto city is most likely to refer to the Automotive High-Tech Valley which is set to be in Tanjung Malim.
Bernama reports that the Prime Minister said that he received a 10-page letter from Geely informing him that it would kick off the automotive hi-tech valley with a USD 10 billion investment. The new information comes not long after the Global Investors & Vendors Convention 2023 in Kuala Lumpur held by Proton.
Speaking at the Selangor state-level Sentuhan Agro Madani programme in Sekinchan today, Datuk Seri Anwar Ibrahim said, “I am mentioning this for the first time. Geely, which is jointly producing cars with Proton, has written a 10-page letter to inform that it wants to continue to make Tanjung Malim the largest auto city in the region. It [Geely] will kick off with USD 10 billion or RM40 billion in investment.”
Commenting on Geely’s USD 10 billion investment for the Tanjung Malim Automotive hub, the Prime Minister comments, “All this is not for getting commission or gift, but to ensure the growth of our economy and thousands of our young people will secure jobs.”
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Set to become the largest automotive hub in Southeast Asia is the Automotive High Tech Valley (AHTV) in Tanjung Malim. The initial signing of the Head of Agreement (HoA) between DRB-Hicom and Geely for the matter was conducted earlier this year. A convention was held on July 17, 2023, to attract more investors for the initiative.
When fully developed, the AHTV is envisioned to be a centre for globally recognised tropical-based research and development of high-technology automotive components. The AHTV will also include a research university that will be aimed at expanding the capabilities of Malaysian automotive workers, and simultaneously help Malaysia become a regional leader in education for automotive engineering, information technology, artificial intelligence, and software development. Geely’s USD 10 billion investment into the Tanjung Malim automotive hub is more than the initial targeted figure of RM 32 billion.
RELATED: DRB-Hicom, Geely sign HOA for development of Automotive High-Tech Valley in Tanjung Malim
