Cik Syed Protom now becum Geely Proton liao, why hah?

[k1976]

Geely’s Proton unveils Malaysia’s first local electric car​

Published Thu, Jun 13, 2024 · 04:42 PM
Geely

• Proton announced its EV brand, e.MAS, on Jun 12 in Kuala Lumpur, with the first cars expected to roll off the production line by the end of 2025. PHOTO: BLOOMBERG
• Proton announced its EV brand, e.MAS, on Jun 12 in Kuala Lumpur, with the first cars expected to roll off the production line by the end of 2025. PHOTO: BLOOMBERG
• Proton announced its EV brand, e.MAS, on Jun 12 in Kuala Lumpur, with the first cars expected to roll off the production line by the end of 2025. PHOTO: BLOOMBERG
• Proton announced its EV brand, e.MAS, on Jun 12 in Kuala Lumpur, with the first cars expected to roll off the production line by the end of 2025. PHOTO: BLOOMBERG
• Proton announced its EV brand, e.MAS, on Jun 12 in Kuala Lumpur, with the first cars expected to roll off the production line by the end of 2025. PHOTO: BLOOMBERG

PROTON Holdings, the Malaysian carmaker backed by China’s Geely Automobile Holdings, has unveiled the South-east Asian country’s first homemade electric vehicle brand.
Proton announced its EV brand, e.MAS, on Wednesday (Jun 12) in Kuala Lumpur, with the first cars expected to roll off the production line by the end of 2025.
The vehicles will be made at Proton’s existing factory in Perak, north of the capital, which itself is transforming into an EV hub with a US$10 billion investment from Geely.

“Proton must change to remain relevant,” CEO Li Chunrong said. “Every major economy is replacing combustion engine cars with EV technology.”
Proton is 49.9 per cent owned by Geely while its Malaysian partner DRB-Hicom owns the remainder.
Wednesday’s announcement is the latest step in Geely’s effort to gain share in Malaysia’s small-but-growing EV market. Last year, it introduced Smart – a brand it co-owns with Mercedes-Benz Group – in a bid to take on global EV leaders BYD and Tesla – both of which already sell cars in the country. Those Smart EVs are imported from China.

A NEWSLETTER FOR YOU​

 

[k1976]

Automobiles

Malaysia's Proton deepens ties with China's Geely ahead of EV debut​

Long-struggling automaker aims for growth under Chinese shareholder

Malaysian automaker Proton launched the redesigned X70 SUV on Aug. 15. (Proton)
FUMIKA SATO, Nikkei staff writerAugust 22, 2024 03:55 JST
SINGAPORE -- As it upgrades its lineup and prepares to roll out its first electric car, Malaysian automaker Proton Holdings is working more closely than ever with Chinese car manufacturer and major shareholder Zhejiang Geely Holding Group.
Proton recently unveiled the redesigned X70 sport utility vehicle at a hotel near Kuala Lumpur. The new version supports both Apple's CarPlay and Google's Android Auto.
The X70 "is representative of Proton entering the next phase of our partnership with Geely," Proton CEO Li Chunrong said on Aug. 15, the day of the launch event.

Debuting in 2018, the gasoline-powered X70 was the first high-end SUV that Proton jointly developed with Geely.
The two sides have reached "so many milestones over the past 18 months," Li said. Proton last year started distributing in Malaysia an EV produced by a joint venture between Geely and Mercedes-Benz Group. In April, Proton opened a research and development center in Geely's home province of Zhejiang, China.
In June, Proton unveiled its EV brand, e.MAS. The company aims to release an all-electric vehicle next year.
Proton also plans to create the Automotive Hi-Tech Valley hub in the Malaysian state of Perak, where the automaker produces cars.
Proton was founded in 1983 as Malaysia's first national automaker. Mitsubishi Motors was an original investor, but the Japanese carmaker ended the capital relationship as the venture struggled to make money.
Proton was taken over by Malaysian conglomerate DRB-Hicom. Geely bought into the automaker in 2017 and now owns 49.9%, with DRB holding the remaining 50.1%.
That is a larger stake than what Mitsubishi held, giving the Chinese company greater influence. Geely, whose brands include Volvo and Zeekr, has provided both funding and human resources to support Proton's vehicle development.

 

[k1976]

BossKu Najib defends sale of Proton stake​

By Iylia Marsya Iskandar
January 4, 2024 @ 8:37am

Consequently, Proton finished the year ranked second in overall sales, marking the fifth consecutive year it held this position.
KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak has reiterated that the previous Barisan Nasional-led government's decision to sell off a chunk of Proton Holdings Bhd's (Proton) to China's Zhejiang Geely Holding Group Co. Ltd (Geely) has proven to be a smart move.
In a Facebook post, it was highlighted that despite the incitement and criticism from Tun Dr Mahathir Mohamad following the deal in 2017 until he faced condemnation, Proton demonstrated resilience by achieving sales increases for five consecutive years.

The post asserted that Najib's decision was ultimately validated as correct during that period.
"From a company with declining car sales and financial problems even to pay suppliers, Proton has been successfully rescued and recorded an increase in sales every year for five years in a row.