A foreign partner is key to Proton’s survival when Malaysia’s sheltered auto market is opened fully by 2008.
Mahathir says:
If we want to, we can sell more than 50% to Volkswagen. They are quite willing, I think, to buy even 100%. There are many other companies which would gladly buy 100% of Proton. Our fear, of course, is if they buy 100%, they might close the production of our national car and just assemble their cars.
However, Volkswagen Group chief executive says that the company would consider taking a stake in Proton only once VW finishes its plans for the coming five to seven years.
Full story here.
After dabbling for years in the IT industry, Paul Tan initially began this site as a general blog covering various topics of personal interest. With an increasing number of readers paying rapt attention to the motoring stories, one thing led to another and the rest, as they say, is history. An avid electronic gadget aficionado as well as big-time coffee lover, he's also the executive producer of the Driven motoring TV programme.
lol will come out Proton Beetle not later on?
WE ARE SAVED !!!! FROM ALL THOSE BLOOD SUCKERS and FREE LOADERS !!!!!!
the root cause of the problem is khazanah. khazanah implemented extreme cost-cutting measures during the crisis with proton, restructuring and reorganising the carmaker. with cost-cutting, quality and after-sales go out the window. govts have no business going into business. they should only be facilitators or referees by legislating laws to reulate business, not going into business themselves. khazanah is choking and squeezing pure private enterprise in malaysia, as does temasek in s'pore. the govt should only concentrate ownership in public resources, e.g. electricity, water and petroleum
sell off proton to vw…let 75% control under vw, and every one else 25%….