DRB-HICOM and General Motors Asia Pacific Holdings LLC Form Sales & Distribution Joint Venture Partnership kicks off with launch of new Chevrolet

Kuala Lumpur – DRB-HICOM Berhad (DRB-HICOM) and General Motors Asia Pacific Holdings LLC (GMAPH) signed an agreement today for the establishment of HICOM-Chevrolet Sdn Bhd in a move to strengthen the Chevrolet brand in the country. At the signing ceremony the partners also unveiled their first product, the new Chevrolet Aveo Notchback, which is aimed at capturing the young and upcoming executive market.

The joint venture will initially oversee the sales and distribution of Chevrolet vehicles in Malaysia. Signing the agreement on behalf of DRB-HICOM was YBhg Datuk Haji Mohd Khamil Jamil, Group Managing Director, and Tuan Haji Mohd Redza Shah Abdul Wahid, Executive Director / Group Chief Operating Officer, while GMAPH was represented by Mr Stephen Carlisle, President of GM Southeast Asia Operations, GM Thailand and Chevrolet Sales Thailand, and Mr Stephen Small, General Motors Vice President, Finance, ASEAN Region. The signing of the agreement was witnessed by YAM Tan Sri Dato’ Seri Syed Anwar Jamalullail, Chairman of DRB-HICOM.

GMAPH holds a 51-percent stake in the joint venture, with DRB-HICOM holding the remaining 49 percent. The joint venture is scheduled to officially begin operation in October 2007. According to the agreement, the partners will explore the establishment of a local vehicle assembly program as well as a manufacturing hub for the production of Chevrolet vehicles, parts and accessories for the ASEAN market.

Launch of the new Chevrolet Aveo Notchback

Form meets function in this latest Aveo sedan - a sub-compact passenger car with a unique design. Spirited, confident and bold, and packaged with a spacious interior that comfortably accommodates five adults, the Notchback is the ideal ‘ride’ for the young urban executive.

Based on a model from GM Daewoo Auto & Technology, it has a long list of features for a small sedan. Powered with the new VGIS (Variable Geometry Intake System) engine, it enables the car to be highly fuel-efficient. Its high-performance Euroride Suspension, on par with European sedans, has been tailored for local road conditions to deliver a smoother driving experience.