KUALA LUMPUR: Camel Group Co. Ltd, the largest batteries supplier for Chinese carmaker Geely Automobile Holdings Ltd, has set aside US$150 million (RM 609 million) for its Malaysian operation, Camel Power (M) Sdn Bhd.
"Camel Power is looking at investing US$150 million (RM609 million), which will be done in three phases," said Camel Group chief executive officer Liu Changlai at the Camel Power launch here today.
Liu said the first Camel Power’s manufacturing plant in Southeast Asia was being built in Kuantan, Pahang and expected to be ready in June.
It is part of the first two phases investments of US$100 million (RM406 million).
"We are looking at estimated production of five million batteries annually. In addition to that, we are expecting to provide 600 employment opportunities for the East Coast region," Liu said.
The third phase investment is located for the battery recycling plant that is estimated at around US$50 million (RM203 million), which will be ready in 2020.
"We need to prepare to recycle the batteries to protect the environment," said Liu.
At the launch, Proton presented Camel Power with the letter of acceptance as an appointed vendor to supply Camel Power batteries for the new Proton X70 and future models.
"We are in talks with other local car manufacturers like Perodua, Honda, Toyota and Volkswagen." Liu said.
He said 80 per cent of the batteries manufactured in Malaysia was for the export market.
"About 20 per cent of the batteries will be sold in Malaysia while the remaining will be exported to overseas like America, Australia, New Zealand, Africa and Middle East." he said.
Camel Power batteries are distributed to all major cities across China and exported to over 40 countries.
The company has over 1,000 dealers, 50,000 shops and after market share 22 per cent in China.