DRB-Hicom has entered a Master Collaboration Agreement (MCA) with Zhejiang Geely Holding Group Co Ltd (Geely) over the development of the Automotive High-Technology Valley (AHTV) in Tanjung Malim, Perak.

In a Bursa Malaysia filing today, DRB-Hicom said the MCA set 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 and strategy) Azri Zaharuddin, while senior vice-president and chief operating officer Wei Mei signed on behalf of the Chinese automaker.

Prime Minister Anwar Ibrahim witnessed the signing ceremony held at Proton Tanjung Malim.

DRB-Hicom said AHTV would be a next-generation international vehicle hub covering automotive and mobility solutions across the value chain, including a fully fledged high-technology global research and development centre.

The conglomerate said AHTV would attract domestic and foreign investments, which would position it as an international automotive hub for new energy vehicles (NEVs).

“Its focus will not only be on the production of automobiles of various makes, but also on 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,” DRB-Hicom said. – Bernama, October 11, 2023.