Urban Mobility
KUALA LUMPUR: The Edge had previously reported that French car manufacturers Group PSA and Renault SA have been in talks with Proton since the beginning of the year. Other automakers that are said to be in the running are Volkswagen, General Motors, Suzuki Motor Corp, and at least one Chinese automaker which is believed to be Geely. Media reports said DRB-Hicom
Read moreThe potential foreign partner is expected to be an automaker with a global brand. The sale is being undertaken, says an exclusive report in the Nikkei Asian Review, as part of its restructuring. Proton is losing money. Successful talks would mean the re-entry of foreign capital along with technology know-how for the first time since January 2005, when Mitsubishi Corp
Read moreThe plan was simple: Overseas car companies would clamor for a stake in what is now the world’s biggest auto market. Beijing would let them in only if they formed joint ventures with local factories. Once an alliance was consummated, Chinese carmakers could strip the foreign partner of its technological expertise before heading out to conquer the world. More than
Read moreChina’s government is considering the removal of caps on stakes foreign carmakers can own in joint ventures with local partners, potentially loosening a policy criticized for shielding state-owned companies from competition. Xu Shaoshi, chairman of the National Development and Reform Commission, said the government is looking into lifting the 50 percent cap in an interview at a World Economic Forum
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