Malaysia eyes to become ASEAN’s next-generation vehicle hub
The Malaysian Investment Development Authority (MIDA) has partnered with DRB-Hicom Bhd and Zhejiang Geely Holding Group Co. Ltd. to develop the Automotive Hi-Tech Valley (AHTV) in Tanjung Malim, Perak, with a goal of turning the country into ASEAN’s hub for next-generation vehicles (NxGV) and energy-efficient vehicles.
In a car manufacturing factory. Photo courtesy of Asian Insiders.
The partnership emphasizes strategic investments and the establishment of a comprehensive ecosystem to position AHTV as a hub of automotive innovation in ASEAN, the MIDA said in a statement on Tuesday.
Witnessing the signing of their memorandum of understanding (MoU), Investment, Trade, and Industry Minister Datuk Seri Tengku Zafrul Abdul Aziz stated that the MoU fulfils the objectives of both the National Automotive Policy and the New Industrial Master Plan 2030.
This AHTV development further positions Malaysia as an automotive hub in ASEAN while also catalyzing the region’s electric vehicle revolution, particularly in high-tech and energy-efficient mobility solutions, he affirmed.
This partnership reflects Malaysia’s readiness to not only tech up but also lead the region’s transition to sustainable mobility while equipping our workforce with the right skills to elevate its overall productivity, he added.
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