Phoenix Venture Holdings (PVH) has signed a letter of intent with Malaysia’s Proton “to explore the feasibility of a number of potential collaborative projects in relation to PVH and its subsidiaries, including MG Rover Group, working with Proton” the company said in a statement on Wednesday.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more


Proton has issued a similar announcement to its local stock exchange.


Without elaborating, the statement said PVH and Proton would “now engage in further discussions and as and when any definitive agreement is reached a further announcement will be made”.

Just Auto Excellence Awards - Have you nominated?

Nominations are now open for the prestigious Just Auto Excellence Awards - one of the industry's most recognised programmes celebrating innovation, leadership, and impact. This is your chance to showcase your achievements, highlight industry advancements, and gain global recognition. Don't miss the opportunity to be honoured among the best - submit your nomination today!

Nominate Now