KUALA LUMPUR, 3 July 2023 – National carmaker Proton Holdings Bhd (Proton) has partnered with Aapico Hitech Public Company Limited (Aapico) to produce dies, jigs, hot stamping parts, body assembled parts and chassis components.
The collaboration will see Aapico acquiring 60 per cent of Advance Vehicle Engineering Global Sdn Bhd (AVEE Global) from Proton with the latter retaining a 40 per cent share in the company that will be renamed as Aapico Avee Sdn. Bhd.
In a statement today, Proton said the partnership, formalized on 26 June 2023, will see Aapico, one of Thailand’s largest auto parts companies, making an initial investment of RM40 million into AVEE Global’s 20-acre facility with plans for further expansion to cater to the growing demand for Proton vehicles and the overall automotive sector.
Another RM100 million in investment is planned for 2024, for plant extensions and the acquisition of new machinery.
The operational manufacturing facility will soon be ramping up its production volume with new products in the pipeline.
Bringing its vast experience and expertise, Aapico will be managing operations and introducing new technology applications to produce better quality parts, improve production and cost efficiency.
The future expansion will also see the development of human capital with more jobs being created and attracting highly skilled talents to the country.
President & CEO of Aapico Hitech Public Company Limited Yeap Swee Chuan said the company is taking the opportunity to enter the auto parts manufacturing sector in Malaysia at the right time, with promising growth expected in the automotive industry led by strong demand for Proton vehicles and further supported by strong economic growth.
“We aim to bring our expertise and manufacturing technology into the partnership and deliver world class auto parts to Proton and support their expansion plans in both the domestic and export market,” Yeap said.
For Proton, the joint venture further strengthens the company’s ambitions to become a major player in the ASEAN automotive market.
By leveraging Aapico’s economies of scale and investment initiatives and combining it with Proton’s own existing technologies in areas such as hot press forming of body parts, the company hopes to be able to make a quantum leap to power it to the forefront of one of the fastest growing automotive regions in the world.
“The joint venture with Aapico will benefit Proton by helping to provide the company better cost optimization, efficiency, and quality in the production of our cars.
As our volume increases in tandem with our model introduction plans, we will continue to work to ensure our products are on par with the competition in terms of features and quality while continuing to offer outstanding safety from the use of technologies such as hot press forming,” said CEO of Proton Dr Li Chunrong.
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