» Positive Talks for Volkswagen and Proton | Volkswagen Blog | Dubautoparts

Positive Talks for Volkswagen and Proton

Reports are ripe that Volkswagen, Europe’s biggest carmaker, is close to forging a deal with Proton, Malaysia’s struggling national car brand.

The Edge business weekly newspaper divulged that in terms of management rights, Volkswagen is either planning to claim a stake in the Malaysian automaker or form a new company to handle the assets of Proton.

“Volkswagen is also seeking management control and will require the government to underwrite any losses at Proton for at least three years,” added the newspaper.

As of late, the Malaysian government had already hinted on its approval and optimism regarding the possible partnership venture with Volkswagen.

Such a pact, as previously reported, serve to benefit both parties. Through Proton, Volkswagen would be able to further bolster its presence in Southeast Asia. Through Volkswagen, Proton would be given the boost to reclaim the no.1 spot in Malaysia’s automotive industry, as well as have the chance to penetrate the European market.

For the first quarter to June 2007 period, Proton has already suffered a loss of 46.75 million ringgit, or equivalent to 13.40 million dollars.

To date, sources have indicated that Volkswagen is now merely waiting for the Malaysian Government’s final approval.

This entry was posted on Saturday, October 6th, 2007 at 3:46 pm and is filed under Uncategorized. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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