ecember 12th, 2023, Kuala Lumpur, Malaysia – In a landmark move to reinforce its presence in Southeast Asia, Geely Holding Group (“Geely Holding”) has partnered with DRB-HICOM (“DRB-HICOM”) to form a joint venture focusing on the recently announced Automotive High-Tech Valley (“AHTV”) project. Simultaneously, Geely Holding’s subsidiary, GYMD Digital Technology Co., Ltd. (“GYMD”), has entered into a Heads of Agreement with ALTEL Group Sdn Bhd (“ALTEL”), further showcasing its commitment to diversify industrial growth. These initiatives mark a pivotal moment for Malaysia’s automotive sector, ushering in a new era defined by innovation and progress.
The AHTV joint venture aims to position Malaysia as a prominent hub for next-generation vehicles within an integrated automotive and mobility ecosystem. This encompasses advanced research and development facilities, state-of-the-art manufacturing units, and supportive services like logistics and training – all framed within a sophisticated smart city framework. It is a strategic move set to elevate Malaysia’s standing in the automotive sector.