KUALA LUMPUR: DRB-HICOM has entered into a Master Collaboration Agreement (MCA) with Zhejiang Geely Holding Group Co Ltd (Geely) pertaining to the development of the Automotive High-Technology Valley (AHTV) in Tanjong Malim, Perak.
In a Bursa Malaysia filing today, DRB-HICOM said the MCA sets forth the underlying principles, governance framework and mutual commitment of the AHTV project, including specific roles to be undertaken for development and promotional initiatives.
Signing on behalf of DRB-HICOM was group chief operating officer, properties and corporate planning & strategy Azri Zaharuddin, while senior vice-president and chief operating officer Dr Wei Mei signed on behalf of the Chinese automaker.
Prime Minister Datuk Seri Anwar Ibrahim witnessed the signing ceremony held at Proton Tanjong Malim.
DRB-HICOM said AHTV will be a next-generation international vehicle hub covering extensive automotive and mobility solutions across the value chain, from a full-fledged high-technology global research & development centre to world-class automotive original equipment manufacturers (OEM) players, manufacturing cluster as well as supporting services and associated ecosystem.
The conglomerate said AHTV will attract domestic and foreign investments which will propel it to become an international automotive hub for new energy vehicles (NEV).
"Its focus will not only be on the production of automobiles of various makes but also on the manufacturing of high-technology components and parts for NEVs.
"This will further expand the capability of local vendors towards specialising in high-technology manufacturing,” DRB-HICOM said. - Bernama
