18-7-2023 (KUALA LUMPUR) Chinese automaker Geely is planning to invest US$10 billion to transform Tanjung Malim in Malaysia’s Perak state into the largest auto hub in the region, according to Prime Minister Anwar Ibrahim. The investment will create thousands of job opportunities for locals, and the company conveyed its plan in a letter to Anwar on Monday night.
Geely Holding Group Co currently has a 49.9% stake in Malaysian carmaker Proton Holdings Bhd. Anwar said the investment was not for getting a commission or gift, but to ensure the growth of Malaysia’s economy and to provide job opportunities for young people.
