Malaysia’s first national car company Proton Holdings launched production of a second SUV model this week, the X50, to tap into growing demand for SUVs in its core markets.
The X50 is based on the Geely Binyue, which uses the BMA (B-segment Modular Architecture) platform developed by Proton strategic shareholder Zhejiang Geely Holding and its European subsidiary Volvo Cars.
Go deeper with GlobalData
Discover B2B Marketing That Performs
Combine business intelligence and editorial excellence to reach engaged professionals across 36 leading media platforms.
The X50 is produced at the Proton Tanjung Malim assembly plant in Perak, in northern Malaysia, and will slot beneath the existing X70 – a compact SUV model based on the Geely Boyue. The company opened its order book for the model on Wednesday with a minimum down payment requirement of MYR500.
The Malaysian automaker said it was targeting annual revenue of at least MYR1.8bn (US$678m) from the X50 model from next year. The SUV is fitted with a 1.5-litre engine coupled with a seven speed, dual clutch gearbox and advanced driver assistance system.
Earlier this month Proton began taking orders for its upgraded X70 SUV, with a minimum down payment of MYR1,000.
Chairman Datuk Seri Syed Faisal Albar told local reporters “as a company that manufactures locally, Proton’s growth means more money is injected into Malaysia’s automotive vendor ecosystem leading to more jobs and wealth creation. This is vital at a time when COVID-19 has significantly hit Malaysia’s economy”.
