Caixin
Jan 08, 2019 05:54 PM
BUSINESS & TECH

With Proton Partnership, Geely Treads Carefully Into Southeast Asia

Then-Malaysian Prime Minister Najib Razak (behind side view mirror)  shakes hands with Li Shufu, chairman of Zhejiang Geely Holding Group Co. Ltd., next to a Geely Boyue SUV during a signing ceremony between DRB-Hicom Berhad and Geely in Kuala Lumpur, Malaysia, in June 2017. Photo: VCG
Then-Malaysian Prime Minister Najib Razak (behind side view mirror) shakes hands with Li Shufu, chairman of Zhejiang Geely Holding Group Co. Ltd., next to a Geely Boyue SUV during a signing ceremony between DRB-Hicom Berhad and Geely in Kuala Lumpur, Malaysia, in June 2017. Photo: VCG

On Dec. 12 in Kuala Lumpur, Malaysian Prime Minister Mahathir Mohamad officiated the launch of a new SUV produced by Proton Holdings Berhad, once the country’s sole automaker.

The scene echoed the launch 35 years ago of the first Proton model, the Saga, which Mahathir attended during his first term as Malaysia’s leader.

The difference this time was that Proton, which had been a source of pride for the nation, is now 49.9% owned by Zhejiang Geely Holding Group Co. Ltd., China’s largest private automobile manufacturer.

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