Both the companies signed the agreement of the joint venture recently which resulted from the recent feasibility study which produced positive results. The study was carried out following the signing of MoU (Memorandum of Understanding) between the 2 companies back in April this year.
DRB-Hicom said that as a result of the joint-venture, the new company would be appointed and given the exclusive importing rights of Potenza sports cars. On top of that, the company will also be the exclusive manufacturer and distributor of the brand which will be encompassing Potenza’s electric and hybrid models. They will then be rolling out the models for both the regional market as well as locally in Malaysia.
From there, they will then be involved in the markets in the surrounding region where the company plans to export the CKD (Completely Knocked Down) kits which are manufactured in Malaysia as well as the components of the vehicles back to Potenza which will then use them for their assembly lines in the United Kingdom which will in turn be producing the UK manufactured models that will be sold in its markets, in the surrounding European markets as well as any other countries which have potential.
Datuk Seri Mohd Khamil Jamil, the Group Managing Director of DRB-Hicom said that HICOM Automotive Manufacturers Malaysia Sdn Bhd, a subsidiary of DRB-HICOM will be the company in charge of manufacturing the completely built-up units in its automotive complex in Pekan. He also said that this would be a giant step for the company in establishing their own brand of vehicles in the country and the region working together with their global partners. He added that they are targeting the production of the cars to start in 2012 where the new company aims to boost the local automotive industry with its new, technologically advanced and sophisticated sports cars which are affordable.