Master collaboration agreement for Automotive Hi-Tech Valley signed

TANJUNG MALIM: DRB-Hicom Bhd (DRB-Hicom) and Zhejiang Geely Holding Group Co Ltd (Geely) have signed a master collaboration agreement for the development of the Automotive Hi-Tech Valley (AHTV) project in Tanjung Malim. The agreement aims to establish and formalize the underlying principles, governance framework, and mutual commitment of the AHTV project, including specific roles for development and promotional initiatives. Azri Zaharuddin, the properties and corporate planning and strategy group chief operating officer of DRB-Hicom, signed on behalf of the company, while Dr Wei Mei, the senior vice president and chief operating officer of Geely, represented the Chinese automotive company. The signing took place at Proton City and was witnessed by Prime Minister Datuk Seri Anwar Ibrahim. Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, Science, Technology and Innovation Minister Chang Lih Kang, Perak Mentri Besar Datuk Seri Saarani Mohamad, Geely chairman Eric Li, and Proton chairman Syed Faisal Albar were also present.

This signing follows the Heads of Agreement (HOA) signed by DRB-Hicom and Geely at the Malaysia-China Business Forum in Beijing earlier this year. In addition to the collaboration agreement, Altel Communications Sdn Bhd (Altel) and Geely’s Zhejiang Geespace Technology Co Ltd (Geespace) signed the HOA at the same venue. The HOA focuses on the development and implementation of high-technology systems and aims to expedite the deployment of innovative solutions in sectors like smart ports. The CEO of Altel, Richard Kitts, represented the company, while the CEO of Geespace, Tony Wang, represented the Chinese strategic investor.

Prior to the agreement signing ceremony, Prime Minister Anwar chaired a high-level AHTV project development meeting, which included senior members of the AHTV project team and federal and state government officials. On his Facebook page, Anwar described the AHTV project as a RM32 billion investment led by Geely and DRB-Hicom that aims to transform Tanjung Malim into a global automotive hub for NEV (New Energy Vehicles). The project also encompasses talent development, research and development, and urbanization efforts. Anwar emphasized the support of the unity government and the efficient and prompt facilitation of this project as a positive example for investors considering Malaysia as an investment destination.