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AVEE Global, a subsidiary of Aapico, will acquire a 60% stake in a PROTON subsidiary, which will be renamed Aapico Avee Sdn. Bhd., as part of the joint venture.
Aapico plans to invest RM140 million in a collaboration with PROTON to produce automotive components, with an initial RM40 million investment into AVEE Global's facility and RM100 million planned for 2024.