Malaysia’s first car company, Proton, has signed an agreement with Indonesia’s PT Adiperkasa Citra Lestari to jointly carry out a feasibility study for the development of a new national car for Indonesia.
The signing was witnessed by Malaysian prime minister Najib Razak and Indonesia’s newly-elected president Joko Widodo during his state visit to Malaysia last week.
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The agreement also provides for the two companies to form a joint venture to establish the project should the feasibility study show enough promise.
Proton is keen to strengthen its presence in Indonesia with its domestic market share having fallen significantly over the years and with exports now way short of expectations.
Indonesia vehicle sales are twice those in Malaysia but competition here from well entrenched Japanese manufacturers is very tough.
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