Investment, trade and industry minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz has said the strategic partnership between Geely and Proton is responsible for the latter’s return to profitability. In a parliamentary written response, he said that Proton was running on losses from 2012 till 2016 before the partnership with Geely turned it around for the better, Malaysiakini reports. Said partnership was signed in June 2017 and saw Geely acquire a 49.9% equity stake in Proton.
Zafrul was replying to a question from Siti Mastura Muhammad (PN-Kepala Batas) on Geely’s role in helping to develop Proton domestically and regionally, and whether there is a joint venture deal between the two companies.
Zafrul pointed out that the collaboration between the two companies allowed for technology transfers, including advanced automotive platforms, energy-efficient engines and electrification systems that have modernised Proton’s vehicle lineup.
A refreshed line-up has resulted in sales of Proton vehicles more than doubling from about 71,000 units in 2016 to over 152,000 units in 2024. “In line with this, Proton’s market share also shows a positive trend, increasing from approximately 12.5% in 2016 to around 18.7% in 2024. This increase was driven by the launch of new models that are more competitive, particularly in terms of technology, design and price value, such as the X70, X50, X90, and S70 models,” Zafrul said.
“In addition, two Geely electric vehicle (EV) models are in the process of local assembly for the domestic and regional markets,” he continued. One of the two models is the eMas 7, which will be assembled at Proton’s new electric vehicle (EV) plant in Tanjong Malim that is targeted for completion by end-2025. The carmaker has yet to reveal the second EV that will be locally assembled (CKD) at the plant, although it is widely believed to be the upcoming eMas 5.
Another positive to come out of the partnership is vehicle exports, with Proton’s export volumes increasing by 316% from 1,145 units in 2018 to over 4,765 units in 2024. The carmaker currently exports to countries such as Pakistan, Brunei, Nepal, Trinidad and Tobago, Bangladesh, Mauritius and South Africa.
“Since cooperating with Geely, to date, Proton has implemented several important investments with a total investment estimated to exceed RM4.71 billion,” Zafrul noted.
“This investment includes infrastructure improvements, including EV plant development, construction of new stamping line and powertrain assembly facilities, technology development to enhance technical capabilities and production efficiency, workforce training and investment for R&D activities aimed at driving product innovation as well as new technology development to support the production of future vehicle models,” he added.
AD: Drive the Proton model of your dreams. Submit your details and Proton PJ will get in touch with you.
Looking to sell your car? Sell it with Carro.
because the money of company only busy to feed own people.. now got outsider holding the major share.. you had to restructure and less “overpaid” people in the company…
Fake news, DRB still own the slight majority shares but the company management was given to Geely to control.
So whos fault was it doing so badly back then and who to thank for when doing so well and who is in charge.
Thank you, who shall not be named, exPM.
Na thanks Jho Low the fai zai who sacrifice himself to change government , proton , ECRL and yada yada. Though he took more than what he deserved
Proton cannot survived as an independent car maker in this competitive world and the market size in malaysia is just too small. it need to make use of existing Geely platform and technology to better compete locally especially with influx of chinese vehicles. more important for malaysia is the competitiveness of proton and perodua supply chain in keeping up with regional competitor. if proton supply chain companies is efficient then fight for a pie of geely supply chain or work with indon and vietnamese car maker for a regional national car collaboration. there is no shame is using Geely technology as long as proton continue to build competencies in design, development and most importantly production.
Thats the problem of that imprudent mahathir..else today everyone’s basic car would be a VW golf
Everybody conveniently forget that it was all thanks to PM Najib for taking the bold move to sell nearly 50% to Geely and gave them the reins to the company direction despite not owning the majority shares. It was a bold move and was criticised by most including Pakatan troopers then but look how Proton has turn around and see how this partnership has opened our doors to other Chinese carmakers BYD, Chery, Haval, GAC, to bring their good cars into our market.
Too bad toxic politics have thrown this great man into jail and Malaysia economy into 25% tariff freefall to hell, where our own rakyat finds it hard to live in their own cities.
“Great man”….LOL…mr sakau is great indeed..sakau billions, give rakyat peanuts, and his monkeys jump in joy
Even great men such as Abraham Lincoln was accused of genocide for inciting American Civil War. All great men has their critics.
its either sell proton or go bankrupt. and here his lackey is praising mr 1mdb .
Tis matter shld ask the previous person sitting on the board n his crony bcos they need the government bailout.
Move on. What decision made by the board is deliberated and decided in point. The results may not meet the plan. Fine! Learnt the lesson Nd move on to be better. The landscape have changed. Japanese car makers too now engaged Chinese partners for EVs
After GST, thats mean Bosku is correct again selling Proton to Geely.
As if he had a choice..LOL
He could have pushed the problem to the next man like PMX did with all his sweet offerings to fool the rakyat
TZ…u give partial picture of DRB only.
DRB is still losing money with the JV.Geely is making money cos DRB has to pay huge royalties for each RHD version.
P1 need to sell at least 180,000 units annually to generate decent profits.
The bleeding hasnt stopped yet.Just lesser or near breaking even.
After investing another 4.7 Billion RM,P1 need time to recover its upfront cash or loan.
71,000 units x Proton Average Car Price (2012-2016) RM70,000 = RM4,970,000,000
152,000 units x Proton Average Car Price (2017-2024) RM90,000 = RM13,680,000,000
DRB-HICOM achieving profitability starting in 2019.
Of course lah..instead of building cars..those engineers rather go have nasi lemak break…now with china boss looking over their shoulders, see they still dare do like this or not
poor management has been with Proton for the longest time. Proton would have wrapped and closed down had it not been the new models from Geely. thats a fact.
Been always criticizing and clear about how this Hicom DRB doin biz… pocket all the fund, high pay salary for big boys, kopi and rilex all this while… give abit of old old tech and then rilex again… coz gov gonna back us.. when finally gov failed to back… they still mau pilih tis and tat … in the end only geely come to save them. Yet after several years of revitalizing, they thought they are good and can fly again… and complaining about their savior doin tis and that. Honestly la, without them, who do u think u are? without the government backing… u think u can survived? btw… those who keep hoo haa bout them all this while… be reminded that, you too pay for all their salary even u dun buy their car…. as they are gettin money from tax payer too….