PSA Peugeot Citroen has confirmed to the Reuters news agency it was in talks with Malaysia’s Proton but added there were no concrete co-operation talks.

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“We are talking with many other car makers about possibilities of co-operation, and in that framework I cannot deny that there have been contacts with Proton,” a spokesman reportedly said, adding: “There is no concrete plan for cooperation with Proton.”


According to Reuters, the Malaysian newspaper Business Times said on Wednesday state-controlled Proton Holdings and PSA were talking of a possibly wider alliance than the one the Malaysian carmaker has with Mitsubishi Motors.


The news agency noted that the market share of Malaysia’s biggest car maker is in decline as foreign-made rivals become a more attractive option to locally made cars, often blamed on shoddy parts and service quality.


The paper reportedly said Proton managing director Syed Zainal Abidin Syed Mohd Tahir told a news conference that talks with PSA had reached “quite advanced details”.

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The paper said he hoped Proton and PSA could finalise a pact that would include joint vehicle platform development and sourcing of components in the near future, Reuters added.


The news agency noted that PSA has a co-operation pact with Fiat for commercial vehicles, with Ford for engines and with Mitsubishi Motors for an upcoming four-wheel drive crossover vehicle.


Reuters added that Proton, owned 43% by state investment arm Khazanah Nasional, led a sheltered life before the government began lowering tariffs on foreign cars under an Asian free-trade pact.


On Tuesday it reported a fourth-quarter net profit in line with expectations but painted a bleak outlook, the report added.