Following its announcement earlier this year, Geely has now reaffirmed its commitment to further invest a total of RM32 billion into Malaysia over the next 10 years, with plans to make the country into a vehicle manufacturing hub for export purposes.
The Chinese automotive giant also plans to further its involvement in local automotive research and development initiatives here via its partner Proton, while also upskilling the local workforce in line with the national carmaker’s goals of becoming an EV hub in the region.
The proposals were highlighted by Prime Minister Datuk Seri Anwar Ibrahim in a Facebook post, after receiving a courtesy visit from Geely Group Chairman Li Shufu in Putrajaya yesterday.
The meeting was also attended by the Minister of Investment, Trade, and Industry Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, who said Proton’s access to Geely’s latest technology will help the national carmaker restore customers’ confidence towards the brand, and further raise the company’s overall performance by building more high-tech vehicles.
Earlier this year, Geely and DRB-Hicom signed a Heads of Agreement (HOA) to jointly invest, manage, and develop the Automotive High-Tech Valley (AHTV) in Tanjung Malim. Once completed, the “smart city” will act as the region’s Next Generation Vehicles (NxGV) hub with research and development centres for high-tech automotive components, as well as a manufacturing cluster, and even a research university aimed at expanding the capabilities of Malaysian automotive workers.
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. The companies also recently organised the Global Investors & Vendors Convention to seek out investors into the AHTV project, attracting over 200 participants including local and overseas vendors.
READ MORE: DRB-Hicom & Geely invite China’s automotive suppliers to invest in AHTV, RM32b target
