The Automotive Hi-Tech Valley in Tanjung Malim received a significant boost with the signing of a Master Collaboration Agreement between DRB-HICOM Berhad and Zhejiang Geely Holding Group Co. Ltd.
The MCA sets forth the underlying principles, governance framework and mutual commitment of the AHTV project, including specific roles to be undertaken for development and promotional initiatives. The signing of today’s agreement brings the collaboration between DRB-HICOM and Geely Holding to the next stage. This latest development follows the signing
of the Heads of Agreement (“HOA”) by DRB-HICOM and Geely Holding earlier this year at the Malaysia-China Business Forum in Beijing.
In addition to the MCA, the signing of the HOA between Altel Communications Sdn. Bhd. and Geely Holding’s strategic investment in Zhejiang Geespace Technology Co. Ltd. also took place at the venue. The HOA focuses on the development and implementation of high-technology systems and will expedite the deployment of innovative solutions within sectors like smart ports.
According to MITI, AHTV will attract investments both locally and from overseas which will propel it to become an international automotive hub for NEV. Its focus will not only be on the production of automobiles of various makes but also on the
manufacturing of high-technology components and parts for NEVs. This will further expand the capability of local vendors to specialising in high technology manufacturing.
