But where is Malaysia’s car industry after 40 years?

 No News Is Bad News

But where is M'sia's car industry after 40 years?

UPDATE1:

Master collaboration agreement for Automotive Hi-Tech Valley signed

By IVAN LOH

NATION

Wednesday, 11 Oct 2023

3:34 PM MYT

 

PIX-Fath Rizal/Prime Minister’s Office of Malaysia

TANJUNG MALIM: A master collaboration agreement for the development of the Automotive Hi-Tech Valley (AHTV) project here has been signed between DRB-Hicom Bhd (DRB-Hicom) and Zhejiang Geely Holding Group Co Ltd (Geely).

The agreement would set and formalise 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 its properties and corporate planning and strategy group chief operating officer Azri Zaharuddin, while Geely was represented by its senior vice president and chief operating officer Dr Wei Mei.

The signing of the agreement at Proton City on Wednesday (Oct 11) was witnessed by Prime Minister Datuk Seri Anwar Ibrahim.

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

This latest development follows the signing of the Heads of Agreement (HOA) by DRB-Hicom and Geely at the Malaysia-China Business Forum in Beijing earlier this year.

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

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

Altel was represented by its group chief executive officer Richard Kitts while Geespace was represented by its chief executive officer Tony Wang.

Prior to the agreement signing ceremony, Anwar had chaired a high-level AHTV project development meeting.

The meeting included senior members of the AHTV project team together with federal and state government officials.

On his Facebook page, Anwar said the AHTV is a mega project that involves a RM32bil investment pioneered by Geely and DRB-Hicom.

"It will turn Tanjung Malim into a global automotive hub for NEV while expanding to include talent development, research and development and urbanisation.

"The support of the unity government and the smooth running of this project serve as an example to investors of Malaysia's approach in facilitating investment efficiently and promptly," he added.

DRB-Hicom inks agreement with Geely on auto hub development

CORPORATE NEWS

Wednesday, 11 Oct 2023

3:20 PM MYT

KUALA LUMPUR: DRB-Hicom has entered into a Master Collaboration Agreement (MCA) with Zhejiang Geely Holding Group Co Ltd (Geely) pertaining to the development of the Automotive High-Technology Valley (AHTV) in Tanjong Malim, Perak.

In a Bursa Malaysia filing today, DRB-HICOM 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, properties and corporate planning & strategy Azri Zaharuddin, while senior vice-president and chief operating officer Dr Wei Mei signed on behalf of the Chinese automaker.

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

KUALA LUMPUR, Oct 11, 2023: Prime Minister Anwar Ibrahim says China’s car manufacturer, Geely, is committed to investing in Malaysia.

“This includes making Malaysia a vehicle manufacturing hub for export purposes,” he added.

 

Really? But where is Malaysia’s car manufacturing after Proton was founded on May 7, 1983? (See above image)

Proton was Malaysia's sole national badged car company until the advent of Perodua in 1993. The company is headquartered in Shah Alam, Selangor, and operates additional facilities in Proton City, Perak.

After 40 years, Proton today belongs to the Chinese, a complete failure in the industry.

At least Malaysia’s neighbour, Thailand, is today the 10^th leading car manufacturer in the world.

It sure looks like Malaysia, once the Tiger Economy of Asia, has much to learn from its two neighbouring countries - Singapore and Thailand.

And Proton is the racist Dr Mahathir Mohamad's biggest failure in 26 years of  governance.

No News Is Bad News reproduces below a news report on Geely’s pledged to invest in Malaysia:

Geely to increase investment in Malaysia, says Anwar

The prime minister says his meeting with Geely chairman Li Shufu proves that the Chinese automobile manufacturer is committed to continue investing in Malaysia.

FMT Reporters - 10 Oct 2023, 11:20pm 

Prime Minister Anwar Ibrahim and Geely chairman Li Shufu pose for a photo during the latter’s courtesy call earlier today. (Facebook pic)

PETALING JAYA: Chinese automobile manufacturer Zhejiang Geely Holding Group Co Ltd (Geely) plans to increase its investment in the country, including making Malaysia a vehicle manufacturing hub for export purposes, says Prime Minister Anwar Ibrahim.

Anwar, who received a courtesy visit from Geely chairman Li Shufu today, said the meeting proved that Geely was following through with its commitment to continue investing in Malaysia as announced during his official visit to China in March.

“The Chinese automobile manufacturer also plans to increase its participation in the field of research and development as well as the provision of local skilled workers, in line with the needs of the industry in the future,” said Anwar in a Facebook post.

“I am confident that this initiative will be fruitful for our country’s economy.”

Geely is a global automotive giant and also a strategic partner of Malaysian conglomerate, DRB-HICOM Bhd. Geely jointly produces cars with Proton.

Earlier today, Anwar said he would be meeting Geely representatives at the Tanjung Malim Automotive High-Tech Valley site tomorrow to look into the US$10 billion (RM45.3 billion) investment project and to explore the possibility of expanding the automotive high-tech valley.

Speaking in the Dewan Rakyat during the Prime Minister’s Question Time, Anwar said the meeting would prove that the company was serious about investing in the Tanjung Malim Automotive High-Tech Valley.

In July, Anwar said Geely would be investing US$10 billion (RM45.4 billion) to turn Tanjung Malim, Perak, into the region’s largest automotive city.

“I am mentioning this for the first time. Geely, which is jointly producing cars with Proton, has written a 10-page letter to inform me that it wants to continue to make Tanjung Malim the largest auto city in the region,” he said in a Bernama report.

“All this is not for getting (a) commission or gift, but to ensure the growth of our economy and secure jobs for our youth.”