Geely to invest RM45.6 billion to turn Tanjung Malim into the region’s largest auto city – PM Anwar Ibrahim

Geely to invest RM45.6 billion to turn Tanjung Malim into the region’s largest auto city – PM Anwar Ibrahim

Prime minister Datuk Seri Anwar Ibrahim has revealed Geely will invest USD10 billion (RM45.6 billion) to turn Tanjung Malim in Perak into the region’s largest auto city. The Chinese carmaker is partnered with Proton, which currently produces the X50, X70 and X90 (based on Geely SUVs) at its plant in the area.

“I am mentioning this for the first time. Geely, which is jointly producing cars with Proton, has written a 10-page letter to me to inform that it wants to continue to make Tanjung Malim the largest automobile city in the region. It will kick off with USD10 billion or RM40 billion in investment,” he said in his speech at the Selangor state-level Sentuhan Agro Madani programme, Bernama reports.

“All this is not for getting commission or gift, but to ensure the growth of our economy and thousands of our young people will secure jobs,” he added.

At the recent Global Investors & Vendors Convention 2023 organised by Proton, the national carmaker said it plans to relocate its manufacturing and research and design facilities to the Automotive High Tech Valley (AHTV) by 2026. Both Geely (Zhejiang Geely Holding) and DRB-Hicom are involved in AHTV, which serves to become Malaysia’s future hub for Next Generation Vehicles (NxGV) outlined in the National Automotive Policy 2020 (NAP 2020).

Geely to invest RM45.6 billion to turn Tanjung Malim into the region’s largest auto city – PM Anwar Ibrahim

Anwar also said Saudi Arabian oil and gas company Aramco will focus on its investment and operational expansion in Malaysia. “Aramco CEO Amin Nasser has informed me that Aramco is comfortable with the government’s policies and leadership and has decided to make Malaysia the hub for Saudi Arabia’s O&G expansion in Southeast Asia,” he explained.

“Coincidentally, the Yang di-Pertuan Agong Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah, who performed the haj (recently) and sat next to Saudi Crown Prince Mohammed Salman Al Saud, related that the central focus of Saudi Arabia’s Asian investments is in Malaysia,” he continued.

Malaysia’s prime minister noted the country recorded commendable economic performance in the first quarter of 2023 with a 5.6% growth, which compared favourably against China, Singapore and Indonesia. He added that Malaysia has attracted some RM71 billion worth of approved investments in the first three months of this year. “This figure excludes the investments from (Tesla CEO) Elon Musk, Aramco and Geely,” he pointed out.

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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.

 

Comments

  • You reap what you sow. In 2-3 years time.

    Like or Dislike: Thumb up 13 Thumb down 3
    • Undi PH dapat Zahid on Jul 20, 2023 at 10:32 am

      Thanks to Najib. Bebaskan bossku!

      Like or Dislike: Thumb up 23 Thumb down 40
      • Logical Deduction on Jul 20, 2023 at 4:04 pm

        The rakyat has spoken below

        Like or Dislike: Thumb up 3 Thumb down 11
        • daulat tuanku on Jul 20, 2023 at 4:59 pm

          above and below are the same jolowh and associate pretending to be people’s voice

          Like or Dislike: Thumb up 18 Thumb down 2
          • Ya Mentri on Jul 20, 2023 at 6:05 pm

            You are only you but the rakyat has spoken.

            Like or Dislike: Thumb up 0 Thumb down 12
          • Rakyat Malaysia bukan saja seorang on Jul 20, 2023 at 7:06 pm

            Malaysia’s population is more than 30 million. So the real rakyat’s voice should be backed by more than 30 million comments.

            Like or Dislike: Thumb up 12 Thumb down 2
          • Rakyat Malaysia bukan seorang saja on Jul 20, 2023 at 7:07 pm

            Malaysia’s population is more than 30 million. So the real rakyat’s voice should be backed by more than 30 million comments.

            Like or Dislike: Thumb up 10 Thumb down 1
    • Rakyat Malaysia on Jul 20, 2023 at 1:29 pm

      Trims kaseh Ahjibkor. Anwar tak buat apa2 pon.
      #BringBackNajibAsPM

      Like or Dislike: Thumb up 14 Thumb down 36
      • You previously said on Jul 20, 2023 at 5:50 pm

        under bossku in early 2018, the exchange rate was RM2.50 to USD1, and under PN in late 2020, the exchange rate was RM3.50 to USD1. But what you said isn’t true & thus what you say now isn’t credible.
        https://tradingeconomics.com/usdmyr:cur

        Like or Dislike: Thumb up 10 Thumb down 1
      • Najis on Jul 20, 2023 at 8:14 pm

        Bossku is a criminal

        Like or Dislike: Thumb up 38 Thumb down 3
      • Najis on Jul 20, 2023 at 8:20 pm

        By the way, Najib’s career is as good as dead now. UMNO will not bring him back. He can stick to Facebook posts and gather thousands of likes and comments

        Like or Dislike: Thumb up 18 Thumb down 2
  • Sohai on Jul 20, 2023 at 10:19 am

    Job creation is the solution to cut back on subsidies.
    But let’s hope those job are not filled by foreign labour.

    Like or Dislike: Thumb up 15 Thumb down 2
  • Nurul Izzah on Jul 20, 2023 at 10:31 am

    Anwar menang, investment China mari

    Like or Dislike: Thumb up 30 Thumb down 13
    • Rakyat Malaysia on Jul 20, 2023 at 1:31 pm

      Najib menang, investment China mari.
      PH menang, investment China lari.
      PM dulu lebih berbakti.
      Wahai rakyat pilih kali ni hati2.
      #BringBackNajibAsPM

      Like or Dislike: Thumb up 14 Thumb down 33
      • daulat tuanku on Jul 20, 2023 at 4:58 pm

        KEK above is jolohw and associate pretending to be people’s voice

        Like or Dislike: Thumb up 18 Thumb down 1
        • Ya Mentri on Jul 20, 2023 at 6:07 pm

          You are only you but the rakyat has spoken.

          Like or Dislike: Thumb up 1 Thumb down 11
        • Rakyat Malaysia bukan seorang saja on Jul 20, 2023 at 7:09 pm

          Malaysia’s population is more than 30 million. So the real rakyat’s voice should be backed by more than 30 million comments.

          Like or Dislike: Thumb up 10 Thumb down 1
      • You previously said on Jul 20, 2023 at 5:51 pm

        under bossku in early 2018, the exchange rate was RM2.50 to USD1, and under PN in late 2020, the exchange rate was RM3.50 to USD1. But what you said isn’t true & thus what you say now isn’t credible.
        https://tradingeconomics.com/usdmyr:cur

        Like or Dislike: Thumb up 7 Thumb down 1
  • Peppa on Jul 20, 2023 at 10:54 am

    No more partnered. The Proton name will be gone eventually

    Like or Dislike: Thumb up 8 Thumb down 16
    • John Gagal on Jul 20, 2023 at 11:16 am

      Yup cancel Proton toxic name, undo the damage & syok sendiri culture to make Tanjong Malim the new Detroit of Asia.

      Like or Dislike: Thumb up 6 Thumb down 12
    • History Bender on Jul 20, 2023 at 4:27 pm

      Geely partnered with Volvo Cars much earlier and yet that brand is not still here but growing stronger with better cars released ever since their partnership.

      Like or Dislike: Thumb up 15 Thumb down 0
  • Geely kasi USD10 billion… Elon Musk invest berapa? 10 supercharger and modems for Starlink..

    Like or Dislike: Thumb up 20 Thumb down 5
    • Undi PH dapat Zahid on Jul 20, 2023 at 11:38 am

      Thanks to Najib. Bebaskan bossku!

      Like or Dislike: Thumb up 10 Thumb down 26
    • hazri on Jul 20, 2023 at 2:31 pm

      geely kasi 10 billion after buy proton share and rebadge geely to x50 & x70 here, and see good sale volume from this 2 models (see result first). if want mas elon to invest more here first we must show our interest to buy and use his product, not just car. and sadly we are way too late, because of weaknesses and slowness during PN regime, mas elon has gone invest to indonesia. if tesla car get good sale volume here, maybe mas elon will think to invest more. but dsai think starlink is more important and effective because it can be use in rural area like borneo, kelantan, trganu, kedah. starlink can do more than telekom fibre optic. and in the future, internet provider have to decrease their price because have to compete with starlink.

      Like or Dislike: Thumb up 6 Thumb down 16
  • Keith on Jul 20, 2023 at 11:49 am

    If Geely invest RM 45.6 b, interm of share %, Geely no longer only 49%…. Mean that, Hicom share will be reduce. It is correct.

    Like or Dislike: Thumb up 0 Thumb down 10
    • Lets See on Jul 20, 2023 at 6:11 pm

      Ownership and investment are 2 different things. You could own a house 50/50 with your brother but even if you put RM 100k to renovate it and extend the house, legally your share on it still remain at 50%.

      Like or Dislike: Thumb up 16 Thumb down 2
  • McPearson Chong Sing Tung @ ST Kool Tint on Jul 20, 2023 at 2:19 pm

    I think got million dollar R&D making grill department with few local content satisfy the blood skrz. Volvo tech car haha still waiting for fender to come from Mongolia.

    Like or Dislike: Thumb up 7 Thumb down 12
  • Celicazz on Jul 21, 2023 at 4:39 am

    Sesembang Madani

    Like or Dislike: Thumb up 3 Thumb down 1
 

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