Malaysia talking with PSA Peugeot Citroen and Volkswagen for Proton collaboration

Malaysia talking with PSA Peugeot Citroen and Volkswagen for Proton collaboration

The Malaysian government has said that they are only talking with France’s PSA Peugeot Citroen and Germany’s Volkswagen on a possible collaboration with state owned Proton Holdings.

This comes after the government earlier said that they had started talks with several potential partners over a possible sale of stake in proton.

Proton has been losing its market share to competitors in the local market as they lack the technical capabilities of global automakers and the government needs to form an alliance soon to make sure that the company stays competitive in the domestic market.

Second Finance Minister Nor Mohamed Yakcop said in a statement: “We are engaging both Peugeot and Volkswagen in this exercise. There is an interest to collaborate and to work together.”