Malaysia’s Proton Holdings has confirmed it is in alliance talks yet again with General Motors, although it stressed that these are still at a preliminary stage.
The company has held alliance talks with a number of foreign automakers over the years, including Ford, Volkswagen and General Motors. On each occasion, the company has failed to agree terms of an alliance,
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Proton continues to collaborate with Japan’s Mitsubishi Motors, which provided the original technology which gave birth to the first Malaysian car company. But the focus of this alliance is limited to technology transfer.
Proton is understood to favour a strategic alliance which would allow the company to grow internationally, but is reluctant to hand over control of the company.
Local reports have suggested Proton is willing to sell a 50% stake in its under-utilised Tanjung Malim plant to General Motors.
Separately, Proton’s chairman Datuk Mohd Nadzmi Mohd Salleh confirmed he has made a bid for the 42.7% stake in Proton held by state-owned investment company Khazanah Nasional.
Datuk Salleh is said to have made the bid “in a personal capacity” and that he had informed the board of his intentions. The source of the funding of this bid remains unclear.
