Proton Holdings announced at its Global Investors & Vendors Convention in Kuala Lumpur this week it wants to lure up to MYR32bn (US$7bn) in investment for its hi-tech supplier park, the Automotive High Tech Valley (AHTV).
Malaysia’s first nation carmaker, owned jointly by local company DRB-Hicom and China’s Zhejiang Geely Holding, said it would “take another step towards the fulfilment of the commitment to building Malaysia’s future hub for next generation vehicles” in Tanjung Malim, the location of its main vehicle assembly plant.
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Two hundred people attended the conference, including representatives of local and overseas suppliers (42 from China alone), government agencies and Proton executives and shareholders. The minister of investment, trade and industry made a keynote speech.
As well as providing a platform for potential overseas investors to meet relevant government agencies and potential local clients, the conference also highlighted achievements so far and provided information on government incentives and the prospects for companies looking to invest in the AHTV which is expected to become an integrated automotive city.
Proton also plans to establish, within the AHTV, a globally recognised R&D centre for high technology automotive components, including a research university aimed at expanding the ability of Malaysian automotive workers and at helping the country become a regional leader in education for automotive engineering, information technology, AI and software development.
Proton said in a statement: “The convention is one of our efforts to attract overseas investment into the AHTV and the country and together we target to attract some RM32bn worth of investments towards the project, including what has already been earmarked by Proton.
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By GlobalData“As the shift to New Energy Vehicles gathers pace AHTV will embrace the changing automotive landscape by offering an integrated ecosystem that will help Malaysia’s automotive sector.”
Proton managing director Syed Faisal Albar noted Geely’s collaboration with Proton had already resulted in several investors and component suppliers operating in Tanjung Malim and their “existing high technology ecosystem is sure to play a major role in bringing the project forward”.
Earlier this year Proton finished installing new stamping facilities, including a 2,500-ton press, at its Tanjung Halim plant at a cost of MYR140m (US$31m).
The company began production of a Geely based hybrid SUV in the second quarter, to be followed by a battery model.
