Geely’s RM30bil investment boost for EV sector

Geely’s investment was in line with the strategic framework for EV development in the country developed by the Science, Technology and Innovation Ministry (Mosti), said Minister Chang. — Reuters

Petaling jaya: Chinese automaker Zhejiang Geely Holding Group Co Ltd will invest RM30bil in the development and commercialisation of the Automotive High-Tech Valley (AHTV) in Tanjung Malim, Perak, says Science, Technology and Innovation Minister Chang Lih Kang.

He said the AHTV will open a new chapter in the electric vehicle (EV) ecosystem in Malaysia and it encompasses the automotive and mobility value chain, from high-tech global research and development centres and related support services for the new energy vehicle industry in Malaysia.