Geely, DRB-HICOM Collabs On Automotive High-Tech Valley (AHTV) Project In Tanjung Malim, Perak

Chinese automaker Zhejiang Geely Holding Group Co Ltd supports the government's initiative to build Automotive High-Tech Valley (AHTV) in Tanjung Malim, Perak. 

This should include Geely to invest RM32 billion along with DRB-Hicom Bhd and other foreign local investors to implement the development and commercialization of AHTV, according to FMT today. 

“We reiterate that the project envisages the participation of other foreign and local investors in the new automotive high-technology industry, bringing the collective investment in AHTV to an estimated RM32 billion by all parties, not only DRB-Hicom and Geely.

“Proton’s plan to fully relocate its manufacturing facilities to Tanjong Malim by 2026 will also create a vibrant new city there, boosting the domestic economy by attracting retail establishments to set up shop in the area,” it said.

Through the new AHTV project, Science, Technology and Innovation Minister Chang Lih Kang further added that it will encompass the automotive and mobility value chain, from high-tech global research and development (R&D) centres including related support services for the new energy vehicle industry (NEV) in Malaysia.

Minister of Science, Technology and Innovation, Chang Lih Kang

From there, Geely’s investment works in line with the strategic framework for EV development in the country which the project spearheaded by the Ministry of Science, Technology and Innovation. 

“Under that strategic framework, we aim for EV usage to reach 38 per cent by 2040 and this (investment) would be a good start. It would help us to build a complete ecosystem on EV and I am convinced that we are able to achieve 38 percent of EV usage,” he highlighted. 

The minister claims to have two more EV companies from China, namely China Harmony Auto Holding Ltd and GAC AION New Energy Automobile Co Ltd, have also shown interest to invest in the country’s EV development. Following that, their representatives from both companies are expected to visit Malaysia tomorrow (April 8) and begin their surveying work on the EV ecosystem. 

Another investment to MOSTI also has been announced, which this time around is for the development of a data centre in Sedenak Johor. The investment fund allocated up to RM2.5 billion from a leading data service provider in China called Shanghai DC-Science Co., Ltd.

Through Anwar’s recent visit to China, Malaysia has garnered the highest investment commitment in history amounting to RM 170 billion from Chinese investors, as a result of the signing of a total of 19 memoranda of understanding (MoU) sealed between Malaysian and Chinese companies.

“Mosti received a total of RM32.5 billion out of the total RM170 billion investments received by the country as a result of the prime minister’s visit to China,” said Chang, who also described Anwar’s visit as ‘very successful’.

As reported earlier by local news outlet, Geely Chairman is expected to make a new announcement on AHTV project during his visit to Malaysia next month.