Geely to invest $10 bln in Malaysia’s automaking hub

Chinese automaker, Geely, will invest $10 billion to develop the main auto-making hub in Malaysia, Malaysian Prime Minister, Anwar Ibrahim, said on Tuesday.

The plan was conveyed to Ibrahim in a letter from Geely, which owns 49.9 percent of the Malaysian car maker, Proton, state news agency, Bernama reported.

Proton plans will be headquartered in the town of Tanjung Malim, in western Malaysia, which will create thousands of job opportunities, Ibrahim added.

Geely is fully committed to working with its Malaysian partners to sustainably develop the area, and will disclose investment numbers in due course, Geely said in a statement.