Niche Vehicle Network involvement wins Potenza a new deal with DRBHicom
DRB-HICOM BERHAD (MALAYSIA) AND POTENZA SPORTS CARS LTD COLLABORATE TO PRODUCE SPORTS CARS ______________________________________________________________________
Wednesday, September 1 – POTENZA Sports Cars Ltd (PSC) and DRB-HICOM Berhad (DRB-HICOM) today entered into a joint venture agreement which would eventually see the birth of a new line of eco-friendly and affordable sports cars being manufactured in Malaysia for the domestic and Asia Pacific market.
This joint venture followed a feasibility study by both parties which began after the signing of a memorandum of understanding in April this year, to look at the possibility of manufacturing sports cars in Malaysia, for the domestic and Asia Pacific market.
The joint venture agreement was signed at Wisma DRB-HICOM by DRB-HICOM’s Group Managing Director, Dato’ Sri Haji Mohd Khamil Jamil and PSC’s Chairman, Mr. Frank Turner.
A joint venture company will be incorporated for this purpose and this new company will become the exclusive importer, manufacturer and distributor of the POTENZA sports cars, including the electric and the hybrid variants for domestic market and the Asia Pacific Region.
The new joint venture company will also export kits and components manufactured in Malaysia to PSC, for the assembly of the models in the UK plant to cater for the European market and the rest of the world.
“The Sports Cars for the Asia Pacific Market will be manufactured in the DRB-HICOM automotive complex in Pekan by its subsidiary HICOM Automotive Manufacturers Malaysia Sdn Bhd. We expect production to begin by 2012,” said Dato’ Sri Haji Mohd Khamil Jamil.
He added that the joint venture agreement would also eventually see to the development of a new range of technologically advanced and sophisticated sports cars models manufactured locally. “For DRB-HICOM, this is our giant step towards realising our vision of designing and developing our own brands of vehicles in cooperation with our global partners.”
During the signing Mr Frank Turner said that the agreement with DRB-HICOM will enable the expertise and resources of both partners to develop an outstanding range of Sports Cars not only for the growing Asia Pacific Market but the rest of the world. “One strength of the partnership embodied in the JV which became apparent during our negotiation was that we shared the same vision and values and this bodes well for our future together.”
According to the Director of Trade and Investment at the British High Commission in Kuala Lumpur, Mr Trevor Lewis, who was also present during the signing: “Pooling the resources of DRB-HICOM and Potenza Sports Cars to jointly develop, manufacture and market high performance, eco friendly sports cars in Asia Pacific and the rest of the world is a major step forward for both companies.”
Mr Lewis added that Malaysia is an excellent choice for Potenza Sports Cars to address the Asia Pacific market together with an outstanding partner DRB-HICOM.
DRB-HICOM has more than 25 years experience in the automotive industry and is currently the only player in Malaysia with a fully integrated automotive business which encompasses manufacturing of components, importation and assembly of vehicles to distribution and after-sales activities.
Over the years, the DRB-HICOM Group has forged ties with several global players such as Audi, Mercedes-Benz, Honda, Suzuki, Mitsubishi, Isuzu and Mahindra as well as prominent local players like Proton. Last year, these brands captured 20 per cent of the total industry volume in the country.
Recently, the Group also entered into a Memorandum of Understanding with Volkswagen AG to explore collaboration in assembly and distribution of Volkswagen cars in Malaysia.
Potenza Sports Cars is part of the Potenza Group which includes Potenza Technology and Potenza Enterprises and is involved in technological development for Aircraft and Automotive applications, together with Health Care and Orthopedics( which has an operation in Penang) and the Training of Business Leaders and Commercial Pilots. Potenza Sports Cars owns niche sports car manufacturers Westfield Sportscars and GTM Cars, and currently produces 300-400 vehicles per annum, sold in both complete built up units (CBU) and component forms.
DRB-HICOM is one of Malaysia’s leading corporations, playing an integral role in the Automotive Manufacturing, Assembly and Distribution industry through its involvement in passenger cars and four wheel drive vehicles market segment, the national truck project and the national motorcycle project; among others. Besides Automotive concerns, the Group’s core businesses are in the Services and Property & Infrastructure.
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