General Motors is in talks with Proton
January 15th, 2007 Leave a comment Visited 22 times, 1 so far today
Malaysian government confirms that GM is in talks with Proton
General Motors is the world’s largest automaker and they are facing intense competition from the Japanese automaker Toyota. The company is now in talks with Malaysia based Proton for a possible deal over a stake purchase.
The Malaysian government confirmed that the talks are indeed happening as Proton aims to secure a partnership to compete better in the domestic market.
Malaysia Second Finance Minister Nor Mohamed Yakcop said in a statement that GM has shown interest in Proton. The company interestingly is also in separate talks with Volkswagen AG and PSA Peugeot Citroen.
The problems for Proton started after they ended their 21-year alliance with Japan’s Mitsubishi Motors Corp. in March 2004.
The Malaysian government itself owns around 43 percent of Proton.
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