DRB-HICOM, Geely Holding sign agreement on AHTV as it sets to become international hub for NEV

KUALA LUMPUR: The Automotive Hi-Tech Valley (AHTV) in Tanjong Malim, Perak, achieved another milestone today with the signing of the Master Collaboration Agreement (MCA) between DRB-HICOM Bhd and Zhejiang Geely Holding Group Co Ltd (Geely Holding).

DRB-HICOM in a statement 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 for properties and corporate planning and strategy Azri Zaharuddin, while senior vice-president and chief operating officer Dr Wei Mei signed on behalf of Geely Holding.

Prime Minister Datuk Seri Anwar Ibrahim witnessed the signing ceremony held at Proton Tanjong Malim.

Also present were Investment, Trade and Industry Minister Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Science, Technology and Innovation Minister Chang Lih Kang, Perak Menteri Besar Datuk Seri Saarani Mohamad, Geely Holding chairman Eric Li and Proton chairman Datuk Seri Syed Faisal Albar.

In addition to the MCA, the signing of the HOA between Altel Communications Sdn Bhd (Altel) and Geely Holding's strategically invested Zhejiang Geespace Technology Co Ltd (Geespace) also took place at the venue.

"The HOA focuses on the development and implementation of high technology systems and will expedite the deployment of innovative solutions within sectors like smart ports.

"Signing on behalf of Altel, a telecommunications provider, was Mr Richard Kitts, its group chief executive officer, while Geespace was represented by its chief executive officer Tony Wang," read the statement.

Reflective of the strategic importance of AHTV, Anwar Ibrahim chaired a high-level AHTV Project Development Meeting prior to the signing of the agreements, it said.

It said the meeting included senior members of the AHTV Project team together with federal and state government officials.

"AHTV will attract investments both locally and from overseas which will propel it to become an international automotive hub for NEV (new energy vehicle).

"Its focus will not only be on the production of automobiles of various makes, but also in 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."

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