KUALA LUMPUR - Malaysia has awarded a manufacturing licence to a 2 billion ringgit (US$618 million) venture that will assemble fuel-efficient SUVs for China's Great Wall Motor Co.
It was the first license issued under the country's new auto policy unveiled in January, aimed at making Malaysia a regional centre for energy efficient vehicles.
Trade Minister Mustapa Mohamad said Wednesday the 2 billion ringgit plant owned by a local company in northern Kedah state will have a production capacity of 100,000 vehicles when ready in 2018. He said 60% of the output will be exported to Southeast Asian countries.
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