Proton founder Dr M 'sad' over Proton-Geely deal

By CARSIFU | 25 May 2017


PETALING JAYA: Proton founder Tun Dr Mahathir Mohamad has expressed sadness over the proposed sale of Proton and Lotus to Geely.

The former premier said today in his blog chedet.cc that Proton could no longer be called a national car even if it looks set to make a turnaround following the deal in which Chinese car maker Geely is taking a 49.9% stake in the local car maker.

"Yes. I am sad. I can cry. But the deed is done. Proton can no longer be national. No national car now. We Malaysians are glad to be rid of this pesky car. I am sure Proton will do well. It will be a commercial success. It will be sold all over the world. The Proton name will be everywhere."

PROTON
File pic of Dr Mahathir in February 2016 when he was Proton chairman.


In his vintage sarcastic style, Dr Mahathir said: "We can be proud of Proton. With money and superior technology, it will compete with Rolls-Royce and Bentley.

But he added: "I cannot be proud of the success of something that does not belong to me or my country."

Dr Mahathir resigned as Proton chairman on March 30 last year.

Under the Proton-Geely deal, Proton will be relegated to handling distribution of its products, while Geely will assume manufacturing, sales and marketing duties. Geely and Proton owner DRB-Hicom are scheduled to lock down the agreement in July.

The deal would see Proton introducing its first SUV, based on the Geely Boyue. Proton would also be divesting its entire stake in British sports car maker Lotus. Geely will buy 51% of Lotus while Etika Automotif Sdn Bhd, controlled by tycoon Tan Sri Syed Mokhtar Al Bukhari, will take up the remaining 49%.

In addition, the Geely-owned Volvo brand would assemble some of its cars in Proton's underused Tanjung Malim plant.

READ MORE:
Geely Boyue - the base for Proton's first SUV
Why Li Shufu agreed to buy Proton
Geely to play dominant role, Proton to handle distribution
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