DRB-Hicom and Geely collaborate to attract investors to AHTV – target for RM32 billion worth of investments

DRB-Hicom and Geely collaborate to attract investors to AHTV – target for RM32 billion worth of investments

DRB-Hicom and Zhejiang Geely Holding (Geely) are working together to attract investors to the Automotive High Tech Valley (AHTV) with today’s Global Investors & Vendors Convention 2023, organised by Proton.

This comes following the signing of a heads of agreement (HOA) between DRB-Hicom and Geely in April 2023 to develop AHTV into an automotive industry hub for the ASEAN region. AHTV will also serve to become Malaysia’s future hub for Next Generation Vehicles (NxGV) outlined in the National Automotive Policy 2020 (NAP 2020).

Held in Kuala Lumpur, the event attracted over 200 participants comprising officials from government agencies; management representatives from DRB-Hicom, Geely and Proton; as well as local and overseas vendors, which included 42 automotive supplies from China. Minister of investment, trade and industry Tengku Datuk Seri Zafrul Aziz was also in attendance as the guest of honour.

The Global Investors & Vendors Convention 2023 serves not only as platform for potential overseas investors to meet relevant government agencies and potential partners, but also showcases the progress made at the AHTV site in Tanjung Malim, the availability of government incentives and prospects for companies looking to set up new businesses at the AHTV.

DRB-Hicom and Geely collaborate to attract investors to AHTV – target for RM32 billion worth of investments

The goal is to make AHTV a centre for globally recognised tropical based research and development of high technology automotive components, which will include a research university aimed at expanding the capabilities of Malaysian automotive workers and helping the country become a regional leader in education for automotive engineering, information technology, artificial intelligence, and software development.

According to Syed Faisal Albar, DRB-Hicom group managing director and Proton chairman, the event is one of efforts made to attract overseas investment in to AHTV, with the target of bringing in RM32 billion worth of investments towards the project, including what has already been earmarked by Proton.

“Concurrently, our combined efforts as well as the strong interest shown by vendors from China will help attract support for the project from the Chinese government, which can lead to even more investments propelled in to AHTV and Malaysia,” said Syed Faisal.

“Geely’s collaboration with Proton and their support for the project has already resulted in several investors and component suppliers operating in Tanjung Malim, and their existing high technology ecosystem is sure to play a major role in bringing the project forwards,” he added.

DRB-Hicom and Geely collaborate to attract investors to AHTV – target for RM32 billion worth of investments

Proton already has a presence in Tanjung Malim for the past two decades and it stands to benefit from the development of the automotive hub. It will bring additional benefits to the surrounding area when it fully relocates its manufacturing and research and design facilities there by 2026.

“AHTV will be a regional NxGV hub, but Proton shall continue to have a large presence there as the owners of the project, DRB-HICOM and Geely, are also Proton’s shareholders,” said Li Chunrong, CEO of Proton.

“Therefore, the company will remain heavily involved in efforts to attract overseas investors to the project, performing R&D activities at AHTV as we further develop our offerings, and creating jobs as we work towards achieving our long-term goals. We also view this as part of Proton’s commitment to being a custodian of the automotive industry in Malaysia as we seek to help nurture, develop, and grow the national ecosystem,” he continued.

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Gerard Lye

Originating from the corporate world with a background in finance and economics, Gerard’s strong love for cars led him to take the plunge into the automotive media industry. It was only then did he realise that there are more things to a car than just horsepower count.



  • Mr Fakta on Jul 17, 2023 at 8:07 pm

    Geely and Proton should invest in a state-of-the-art Apple CarPlay and Android Auto R&D center and spend billions to find out how to integrate it to their useless system, they need this most.

    Like or Dislike: Thumb up 5 Thumb down 4
    • tesla has no apple carplay and android auto too.

      Like or Dislike: Thumb up 2 Thumb down 0
      • Mr Fakta on Jul 18, 2023 at 11:07 am

        Tesla uses Google Map which I don’t mind if Proton’s system can download it. Your comparison is flawed, it’s like asking why Apple products has no Google play store, because they’re freaking Apple and they do have Gmap on App Store knowing their own map sucks. But Proton is like a stubborn version Huawei without play store, basically useless outside of China. Huawei is force to gave up play store, but Proton is willingly not including it. Spot the difference?

        Like or Dislike: Thumb up 5 Thumb down 1
    • Will it really come? Maybe it would if Najib is back as PM to compel Geely stump the money, but as it is today under Anwar it is no more an illusion like his RM 170 Billion MOUs from China.

      Like or Dislike: Thumb up 1 Thumb down 0
  • evuser on Jul 17, 2023 at 9:43 pm

    More IMPORTANT … when is Malaysia going to ALLOW EV to come into Malaysia BELOW RM100K. ??? China has EV atRm 30k ?? When can Malaysia get this to benefit the Rakyat ???

    Like or Dislike: Thumb up 2 Thumb down 3
  • Man Dugongx on Jul 17, 2023 at 10:33 pm

    Sya pun nok kluar dari kelantan merantau pi Selangor banyak keje.

    Like or Dislike: Thumb up 2 Thumb down 2
  • bersih 9.0 on Jul 18, 2023 at 10:10 am

    cant stand to see the face of that person who is still under investigation by MACC.

    Like or Dislike: Thumb up 1 Thumb down 0

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