Geely to invest US $10 billion in Malaysia to build Motor City

Thanks to CTOnews.com netizens for the delivery of clues about the past. CTOnews.com, July 18 (Xinhua)-- according to Malaysia's state news agency, Malaysian Prime Minister Anwar said that Chinese carmaker Geely plans to invest $10 billion (CTOnews.com Note: currently about 71.7 billion yuan) to build Tanjung Malim in Perak, Malaysia, into the largest car center in the region.

Mr Anwar revealed that Geely conveyed the plan to him in a letter on Monday night and that the investment would create thousands of local jobs. Geely has a 49.9 per cent stake in Malaysian carmaker Proton.

According to statistics, Chinese auto companies accounted for 30% of the global auto market in the first quarter of 2023. Geely is one of the representatives of Geely in the global market. Geely, Lecker and Polar Krypton go out to sea together. In 2022, Geely exported a total of 198200 cars, an increase of 72.4% over the same period last year. In 2023, Geely car exports continue to maintain a high growth rate. In May this year, Geely's export sales reached 22900 vehicles, an increase of 45% over the same period last year, setting a new high for a single month, with sea sales exceeding 20,000 for three consecutive months.