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Proton set to receive help from three auto firms soon

By Faiming_low on 07 Jan 2017 in Other News

Attached Image Three major automotive brands, Geely, PSA Group and Renault have been rumored to put in firm offers for a possible stake in Proton in exchange for some technology and parts sharing according the New Straits Times.

Proton's Chief Executive Officer Datuk Ahmad Fuaad Kenali was quoted, "All three shortlisted foreign carmakers are currently doing their due diligence. We expect this to be completed this month. They are expected to come up with the binding offers next month."

The partnership is one of several conditions from the government to be met for receiving a soft loan of RM1.5 billion (S$482 million). In the article, Proton's parent, DRB-Hicom, wishes to finalise Proton’s strategic partner by the first half of this year, its group Managing Director Datuk Seri Syed Faisal Albar said.

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Faiming_low
Written by Faiming_low
Since young, Fai Ming has always centered his life around cars. In fact his first word was 'car' and not 'mum' or 'dad'. Aren't kids cute?



 
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