Local suppliers gear up as Hyundai strengthens Malaysia ties

KUALA LUMPUR: Malaysian and South Korean vendors have signed memorandums of understanding (MoUs) to support Hyundai Motor’s vehicle production in Malaysia through technical collaboration.

The four MoUs signed recently marks a significant step in enhancing the local automotive supply chain.

The MoUs were sealed during a five-day supply chain development and partnership programme jointly organised by Malaysian Investment Development Authority (MIDA) and Hyundai Motor Malaysia from Oct 27-31 in South Korea.

The programme brought together 12 Malaysian vendors and 36 of Hyundai’s global Tier-1 suppliers for business matching sessions, factory visits and technology-sharing engagements aimed at fostering collaboration and knowledge exchange.

MIDA chief executive officer Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid said the collaboration reflects Malaysia’s commitment to driving industry transformation in line with the National Automotive Policy (NAP) and the New Industrial Master Plan 2030.

“This partnership marks an important step in strengthening Malaysia’s position as a leading regional automotive player.

“Through this collaboration with Hyundai, MIDA seeks to empower Malaysian vendors to move up the value chain, enhance local capabilities, attract quality investments, and accelerate the nation’s transition towards next-generation mobility,” he said.

The partnership is expected to help Malaysian technical vendors gain access to advanced technologies and manufacturing expertise, improving product quality, efficiency and competitiveness in line with global standards.

Hyundai Malaysia managing director Jahabarnisa Haja Mohideen said the company remains committed to Malaysia not only as an investor but as a long-term partner in progress.

“We look forward to continuing our collaboration with MIDA, our supply chain partners and the wider automotive ecosystem to drive sustainable growth for our partners, the economy, the government, and ultimately, our customers,” she said.

© New Straits Times Press (M) Bhd

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