Geely is said to have bought 49 percent of Proton, according to Reuters. Details of the deal remain unknown as DRB-Hicom could not be reached as of press time.
Other than the PSA Group which owns Citroen and Peugeot, Renault and Suzuki have also been rumored to bid for Proton.
Proton is said to have two manufacturing plants that can assemble 400,000 cars yearly but is now running far below their maximum potential. With Geely's help, Proton could improve and grow itself in the neighbouring right hand drive markets, including Malaysia and India.