KUALA LUMPUR, Dec 17 (Bernama) -- The Malaysian Investment Development Authority (MIDA) has partnered with DRB-Hicom Bhd and Zhejiang Geely Holding Group Co Ltd to develop the Automotive Hi-Tech Valley (AHTV) in Tanjung Malim, Perak, advancing Malaysia's position as ASEAN's hub for next-generation vehicles (NxGV) and energy-efficient vehicles (EEV).
The partnership emphasises strategic investments and the establishment of a comprehensive ecosystem to position AHTV as a hub of automotive innovation in ASEAN, MIDA said in a statement today.
"The key focus areas include promoting the transformation of Malaysia’s automotive industry to position the country as a leader in EEV production within ASEAN and supporting the development of AHTV into a hub for NxGV manufacturing and high-tech (technology) automotive components," it said.
The agency said that other focus areas include enhancing the capabilities of local suppliers to participate in the localisation of key components and integrate into global supply chains, and attracting global automotive supply chain players to establish a comprehensive ecosystem at AHTV.
Additionally, the partnership would strive to work with stakeholders to align investment, industrial and trade policies to accelerate the promotion and application of EEV technologies across Malaysia and strengthen coordination to create a conducive environment for sustainable automotive innovation, it said.
The memorandum of understanding (MoU) was formalised by MIDA chief executive officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, DRB-Hicom group managing director Tan Sri Syed Faisal Albar, and Geely Auto CEO Jerry Gan Jiayue yesterday.
Witnessing the occasion, Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz stated that the MIDA-DRB-Hicom-Geely MoU fulfils the objectives of both the National Automotive Policy and the New Industrial Master Plan 2030.
He said this AHTV development further positions Malaysia as an automotive hub in ASEAN while also catalysing ASEAN's electric vehicle revolution, particularly in high-tech and energy-efficient mobility solutions.
“This partnership reflects Malaysia's readiness to not only tech up but also lead the region's transition to sustainable mobility while equipping our workforce with the right skills to elevate Malaysia’s overall productivity,” he said.
Meanwhile, Sikh Shamsul Ibrahim said the collaboration enables the agency to harness Industry 4.0 and energy-efficient solutions to create a dynamic ecosystem at AHTV that supports innovation and sustainability.
Through its Global Supply Chain Coordination and Industry4WRD initiatives, MIDA is dedicated to enhancing the capabilities of local suppliers, enabling them to meet international standards.
"By fostering a competitive and interconnected supply chain, these efforts aim to seamlessly integrate local automotive suppliers into regional and global markets, expanding their reach and impact," it added.
-- BERNAMA
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