MIDA inks game-changing auto industry MoU with DRB-Hicom, Geely
17 Dec 2024
The Malaysian Investment Development Authority (Mida) yesterday marked a significant milestone in Malaysia’s automotive industry transformation by signing a Memorandum of Understanding (MoU) with DRB- HICOM Berhad and Zhejiang Geely Holding Group Co. Ltd.
The partnership aims to develop the Automotive Hi-Tech Valley (AHTV) in Tanjong Malim, Perak, advancing Malaysia’s position as Asean’s hub for Next Generation Vehicles (NxGV) and Energy Efficient Vehicles (EEV).
In the presence of the Prime Minister, Datuk Seri Anwar Ibrahim, the ceremonial exchange was held at the Malaysia International Trade and Exhibition Centre (Mitec), following the official signing at the Ministry of Investment, Trade, and Industry (Miti).
The agreement was formalised by Mida chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid, DRB-HICOM Group managing director Tan Sri Syed Faisal Albar, and Geely Auto CEO Jerry Gan Jiayue.
Witnessing the occasion, Tengku Datuk Seri Utama Zafrul Aziz, Minister of Investment, Trade, and Industry, remarked on the national significance of this collaboration: “The Mida-DRB-HICOM and Geely MoU fulfils the objectives of both our National Automotive Policy (NAP) and New Industrial Master Plan 2030. 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.”
The partnership with Mida emphasises strategic investments and the establishment of a comprehensive ecosystem to position AHTV as a hub of automotive innovation in Asean. The key focus areas include advancing industry 4.0 and automotive transformation, building a sustainable and inclusive ecosystem, and facilitating policy and stakeholder engagement.
Source: Bernama
