KUALA LUMPUR: A 400-acre electric vehicle smart manufacturing plant will be built at Enstek Industrial Park in Negeri Sembilan with an investment of RM5 billion, the Malaysian Institute of Economic Research (MIER) said today.
Although no details were revealed on the identity of the private investor, MIER chairman Kamal Salib said it would be a local investor, partnering with Elenvi Otomotif Sdn Bhd.
Speaking to reporters after the launch of MIER’s new Genuine Prosperity Indicator and Cost of Living Indication at its office here, Kamal said the first electric car showcase would be launched in October by Prime Minister Dr Mahathir Mohamad.
The vehicles will be designed and manufactured for both local and export markets.
However, Kamal denied that this would be the third national car project.
“MIER has been tasked by Elenvi and the investor to conduct a feasibility study and business, investment and financial plan which will be presented to the prime minister for his consideration.
“This is a private sector investment and it will be up to him (the prime minister) to decide if it should be our third national car.”
Kamal added that a strategic technology partner has been identified and engaged, while Elenvi will be the special purpose vehicle company.
MIER earlier signed several memorandums of understanding (MoUs) with 20 strategic partners, witnessed by Health Minister Dzulkefly Ahmad.
The MoUs highlight seven technologies including the electric car, solid state hydrogen, 5G and biojet fuel from palm oil.