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||13 September 2009
Proton’s search for a strategic suitor continues
Malaysia’s national car maker Proton is in discussions with a foreign car company to strike a strategic alliance and hopes one would be concluded by year-end, local business daily Starbiz quoted Proton Holdings Bhd managing director Syed Zainal as saying Saturday.
Calling such a tie-up the “missing link” for Proton, Syed Zainal, however, did not disclose the identity of the party the national car maker was in talks with.
StarBiz reported on Friday that Proton was in discussions with Volkswagen (VW) on a strategic partnership that would see VW cars assembled at the former’s plant in Tanjung Malim, Perak.
The partnership is not expected to see VW taking up an equity stake in Proton but collaboration in platforms and engines is likely being negotiated.
The Malaysian government, said the paper, would like Proton to have a strategic alliance before the review of the National Automotive Policy (NAP) is completed. The NAP is expected to be announced next month.
Proton and VW are no strangers to negotiations as both parties came close a couple of years ago to striking a deal that would have seen the German company taking up an equity stake in the national carmaker.
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