On 17 December 2024, MIDA signed a landmark Memorandum of Understanding (MOU) with DRB-HICOM Berhad and Zhejiang Geely Holding Group Co. Ltd. to develop the Automotive Hi-Tech Valley (AHTV) in Tanjong Malim, Perak. This strategic partnership aims to transform Malaysia’s automotive industry, positioning the nation as ASEAN’s leading hub for Next-Generation Vehicles (NxGV) and Energy Efficient Vehicles (EEV). The collaboration will focus on attracting investments, fostering innovation, and building a comprehensive ecosystem within AHTV to drive the development and production of cutting-edge automotive technologies.
Key initiatives under this MOU include promoting Industry 4.0 adoption and supporting the localisation of key components within the automotive supply chain. MIDA, through its Global Supply Chain Coordination and Industry4WRD programmes, will empower local suppliers to meet international standards and integrate seamlessly into regional and global markets. This partnership underscores Malaysia’s commitment to sustainable automotive innovation and its ambition to become a major player in the global automotive landscape.