Al Mayadeen English

  • Ar
  • Es
  • x
Al Mayadeen English

Slogan

  • News
    • Politics
    • Economy
    • Sports
    • Arts&Culture
    • Health
    • Miscellaneous
    • Technology
    • Environment
  • Articles
    • Opinion
    • Analysis
    • Blog
    • Features
  • Videos
    • NewsFeed
    • Video Features
    • Explainers
    • TV
    • Digital Series
  • Infographs
  • In Pictures
  • • LIVE
News
  • Politics
  • Economy
  • Sports
  • Arts&Culture
  • Health
  • Miscellaneous
  • Technology
  • Environment
Articles
  • Opinion
  • Analysis
  • Blog
  • Features
Videos
  • NewsFeed
  • Video Features
  • Explainers
  • TV
  • Digital Series
Infographs
In Pictures
  • Africa
  • Asia
  • Asia-Pacific
  • Europe
  • Latin America
  • MENA
  • Palestine
  • US & Canada
BREAKING
Turkish President Recep Tayyip Erdogan: We have waited 60 years at the doorstep of the European Union. We are no longer waiting.
Al Mayadeen correspondent: One civilian martyred, another injured by Saudi Arabia's armed forces in Saada, Yemen.
The Turkish authorities have banned media from broadcasting at the scene of an attempted terrorist attack that hit the capital near Parliament earlier.
An explosion and gunfire heard in Turkey’s capital Ankara near the parliament and the ministries.
US House 45-day stopgap funding bill with no aid for Ukraine gets enough votes.
Armenia quickly denied the allegations of killing an Azerbaijani soldier, saying the claim its forces had opened fire on Azerbaijani positions "does not correspond to reality".
Azerbaijan says a soldier was killed by a sniper on the Armenian border.
White House: The US is monitoring a troubling Serbian military deployment along the border of Kosovo that is causing tensions.
White House: Serbia and Kosovo must fulfill their commitments and avoid taking any provocative steps.
White House spokesperson John Kirby urges Serbia to withdraw its forces from its borders with Kosovo.

Chinese automaker to invest $10bn to make largest auto hub in Malaysia

  • By Al Mayadeen English
  • Source: Agencies
  • 18 Jul 2023 15:25
  • x

Citing Malaysian Prime Minister Anwar Ibrahim, state news agency Bernama reported that the investment should create thousands of job opportunities for locals.

  • FILE - Visitors look at cars produced by Geely at the Auto China 2020 show in Beijing on Sept. 27, 2020 (AP)
    Visitors look at cars produced by Geely at the Auto China 2020 show in Beijing on Sept. 27, 2020. (AP)

Citing Malaysian Prime Minister Anwar Ibrahim, state news agency Bernama reported that Chinese automaker Geely intends to invest $10 billion to turn Tanjung Malim in Malaysia into the region’s largest auto hub.  

According to Anwar, the plan was confirmed to him in a letter on Monday, which would create thousands of job opportunities for locals.

On Tuesday, at an event in the Selangor state, the PM noted, “They said they want to start off by investing $10 billion or 40 billion ringgit...All this is not for getting a commission or gift, but to ensure the growth of our economy and thousands of our young people will secure jobs.”

It is noteworthy that Geely Holding Group Co. already holds a 49.9% stake in Malaysian carmaker Proton Holdings Bhd.

Related News

Chinese EV brands setting the global benchmark of industry

De-industrializing Europe; lithium battery factories relocating to US

Read more: Chinese EV brands setting the global benchmark of industry

Geely has also doubled its share in British luxury manufacturer Aston Martin Lagonda with $291 million under a new partnership lifting its holding to 17%, up from a 7.6% stake it purchased in September - making it the third largest investor.

The Chinese EV sector has been booming. It has dedicated massive resources to developing technologies relevant to the sector since the early 2000s.

Billions of subsidies and incentives gave Chinese auto-makers a significant headstart against foreign competitors. The industry environment and regulations set by the government have drawn further foreign attraction to the Chinese market, luring in EV giants such as Tesla, which has boosted the domestic sector's competitiveness and attractiveness against foreign firms. 

China's EV industry has successfully broken the cost barrier, enabling average consumers to afford an electric vehicle without being burdened by loans.

  • EV
  • Anwar Ibrahim
  • electric vehicles
  • China
  • Geely
  • Malaysia

Most Read

BBC from the front lines in Ukraine: It's bad, counteroffensive failed

BBC from the front lines in Ukraine: It's bad, counteroffensive failed

  • Europe
  • 28 Sep 2023
Zelensky joins Canadian Parliament’s ovation to WWII Nazi soldier

Zelensky joins Canadian Parliament’s ovation to WWII Nazi soldier

  • US & Canada
  • 25 Sep 2023
Who Would Ally with the West: ‘It’s Boring – The Real Excitement is in Asia’

Who Would Ally with the West: ‘It’s Boring – The Real Excitement is in Asia’

  • Analysis
  • 30 Sep 2023
How Hezbollah Burnt the Naqab Forest, The Abbassiye Landing Operation

Al Mayadeen documentary: How Hezbollah burnt the IOF's Naqab Forest

  • MENA
  • 24 Sep 2023

Coverage

All
Morocco & Libya Disasters

Read Next

All
sd
MENA

Islamic unity vital to counter US, Israeli plots, aggression: Raisi

DPRK flag
Asia

DPRK assimilates NATO, US alliance with Japan, South Korea to cancer

President Joe Biden signs H.J.Res.100, a bill that aims to avert a freight rail strike, in the Roosevelt Room at the White House, Friday, Dec. 2, 2022, in Washington. (AP)
US & Canada

Biden signs 45-day spending bill averting government shutdown

European Union foreign policy chief Josep Borrell speaks with the media as he arrives for an EU summit at the European Council building in Brussels, Thursday, June 29, 2023. (AP)n Ukrainian Port
Europe

Borrell sheds crocodile tears over Odessa after slew of drone attacks

Al Mayadeen English

Al Mayadeen is an Arab Independent Media Satellite Channel.

All Rights Reserved

  • x
  • Privacy Policy
  • About Us
  • Contact Us
  • Authors
Android
iOS