Active Stocks
Thu Mar 28 2024 15:59:33
  1. Tata Steel share price
  2. 155.90 2.00%
  1. ICICI Bank share price
  2. 1,095.75 1.08%
  1. HDFC Bank share price
  2. 1,448.20 0.52%
  1. ITC share price
  2. 428.55 0.13%
  1. Power Grid Corporation Of India share price
  2. 277.05 2.21%
Business News/ Companies / Auto | Proton seeks technical tie-up with Renault, GM
BackBack

Auto | Proton seeks technical tie-up with Renault, GM

Auto | Proton seeks technical tie-up with Renault, GM

Premium

Kuala Lumpur/Shanghai/Tokyo:Proton Holdings Bhd., the Malaysian car maker that ended partnership talks with Volkswagen AG in 2007, said it’s in early discussions with Renault SA and General Motors Corp. about a technical alliance to help make new models.

Talks are very preliminary, said managing director Syed Zainal Abidin Syed Mohamed Tahir in an interview in Kuala Lumpur on Tuesday. We are just discussing how we can explore working together. An alliance is vital. We need to have scale. An equity sale isn’t being considered, he said.

Proton needs a partner to develop a new version of the company’s Perdana luxury sedan by next year, he said. While new models helped the Malaysian car maker, which also makes Lotus sports cars, return to profit last year, it still lacks the size to compete with Toyota Motor Corp. and Honda Motor Co. in the home market.

Unlock a world of Benefits! From insightful newsletters to real-time stock tracking, breaking news and a personalized newsfeed – it's all here, just a click away! Login Now!

Catch all the Corporate news and Updates on Live Mint. Download The Mint News App to get Daily Market Updates & Live Business News.
More Less
Published: 07 Apr 2009, 10:25 PM IST
Next Story footLogo
Recommended For You
Switch to the Mint app for fast and personalized news - Get App

Chat with MintGenie