During the visit, YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz, Minister of International Trade and Industry (MITI), held discussions with Geely and PROTON regarding the NEV and Intelligent Technology strategy. PROTON will explore opportunities to accelerate NEV programmes, riding on Geely’s resources, in line with the Government’s aspirations to enhance the adoption of NEV. In particular, the goal is to offer affordable and practical NEV models which will help develop the local market as well as enhance the local manufacturing and ecosystem development of NEV.
Chairman of Geely Auto, Mr An Cong Hui (right) presenting a souvenir to Minister YB Senator Tengku Datuk Seri Utama Zafrul Tengku Abdul Aziz.
PROTON has already started on this path with the impending launch of the Proton X90 mild hybrid SUV. This will be followed by the introduction of the smart #1 battery electric vehicle (BEV) by PRO-NET later in Q4 of 2023. Subsequent to this forum, PROTON will look at expanding its range of NEV offerings, including in segments new to the company. PROTON however, will not yet abandon the internal combustion engine (ICE) vehicles just yet and these will remain the mainstay of the brand at least for the next few years.
“I am pleased to highlight after five years into their partnership, PROTON and Geely have made great strides in bringing new products, technology, and investment to Malaysia. Following the signing of the HOA in Beijing on 1 April, it is now clear AHTV has great potential to attract RM32 billion of investment and today’s visit to Ningbo demonstrates the the PROTON and Geely partnership will continue to prosper with the future implementation of NEV programmes,” commented Dato’ Sri Syed Faisal Albar, Chairman of PROTON. Geely had officially acquired a substantial stake in PROTON in 2017 from DRB-HICOM.
The event also saw the signing of a Heads of Agreement (HOA) document between DRB-HICOM and Geely that sealed their commitment to jointly invest, manage, and develop the Automotive High Tech Valley (AHTV) in Tanjung Malim into a smart city and hub for Next Generation Vehicles (NxGV). Over the next 10 years, AHTV is expected to attract investments worth an estimated RM32 billion.
Since 2018, with support from DRB-HICOM and Geely, PROTON has invested over RM3.3 billion as part of its performance turnaround initiatives, which covers product development, new technology integration, manufacturing expansion and human capital development especially in new and emerging technologies.
With the development of the AHTV, more investments are planned, focusing on new products and technologies including new energy solutions and intelligent technologies. The pursuance of transformation initiatives is particularly important for the company hence the synergy with Geely in technology development is vital to achieve the strategic goals.
Thus far, various steps have been taken for PROTON to achieve its long-term goals. For instance, a permanent office has been established at the Geely Automobile Research Institute (GRI) in Hangzhou Bay to integrate all development activities between the engineering teams. The company has also already assigned 18 engineers to be based there for the first phase of R&D and NEV development programmes. More personnel will be assigned soon to help accelerate the transfer of technology.
“PROTON is now in the second half of its 10-year business plan. Besides the hiccups caused by 2 years of pandemic control measures, we are pleased with the progress made so far. Over the next 5 years, we aim to work even more closely with Geely and expand our offerings as the market for NEVs grows. This in turn will help develop the national automotive ecosystem and push Malaysia towards its target of being an NxGV hub,” commented Dr. Li Chunrong, Chief Executive Officer of PROTON.
“We will also expand our focus to include other aspects that support the industry. For example, charging infrastructure development is a priority for NEVs so we will optimize synergy with Geely group of companies to enhance the NEV infrastructure for PROTON and the ecosystem in Malaysia”.
Keyword: PROTON Confirms More NEV Models In The Works