KUALA LUMPUR – Chinese automotive firm Geely’s investment into the Automotive Hi-Tech Valley (AHTV) in Tg Malim will reach up to RM32 billion for the next 10 years said Investment, Trade and Industry minister Datuk Seri Tengku Zafrul Tengku Abdul Aziz.
In a written reply to a question by Cheras MP Tan Kok Wai, Zafrul added the investment will involve various local and foreign investors.
“The AHTV will include the development of automotive facilities and technology for energy-efficient vehicles, especially electric vehicles (EV) and next-generation vehicles.
“In addition to that, AHTV will also be used as a research and development centre, (as well as a) human capital development centre in the fields of automotive engineering, information technology, design, artificial intelligence and software development,” he said.
He also added that the project can turn the AHTV into a new hub for manufacturing for local vehicle manufacturers and suppliers of automotive components, especially EV components and spare parts.
In July, Prime Minister Datuk Seri Anwar Ibrahim announced that Geely wrote a 10-page letter to him on the carmaker’s interest in investing and turning Tg Malim, Perak into the region’s largest auto city.
The US$10 billion (RM47.3 billion) investment would create thousands of job opportunities for Malaysians. – October 16, 2023