The Proton-Geely partnership is a good example of the One Belt and One Road (OBOR) initiative, according to Zhejiang Geely (ZGH) chairman Li Shufu. In the report by Bernama, Li Shufu said China’s economy is currently undergoing an important transition, which has resulted in the Chinese multinational carmaker’s involvement in OBOR.

“In June 2017, ZGH signed a definitive agreement with Proton, and the deal is expected to be finalised by the end of the month (September). This is an example of a company pursuing the OBOR initiative, especially in the development of vehicles and infrastructure,” he said during the 2017 Media Cooperation Forum on OBOR in Dunhuang.

While tapping into global markets is important, Li Shufu stated developing a good corporate culture is of more importance. “The key to this is integration, inclusiveness and an open culture,” he noted, adding that profits shouldn’t just be the only aim of business development, but should also involve social values and corporate social responsibility.

The agreement between both parties will see ZGH secure a 49.9% stake in Proton, while DRB-Hicom will hold the remaining 50.1%. Other aspects include the sharing of the Boyue SUV platform, Proton being the manufacturing hub for Geely’s right-hand drive (RHD) models, and transforming Proton’s R&D division into one of Geely’s global centre of excellence, among other things.