Proton will continue to search for another strategic partnership after failed to seal potential partnership with Volkswagen.Read the full news from Bernama below.

PROTON CONTINUES SEARCH FOR STRATEGIC PARTNER.

KUALA LUMPUR, July 1 — National car producer, Proton Holdings Bhd (Proton) will continue its efforts to find a new strategic partner after failing to strike up a partnership deal with Volkswagen, the Dewan Rakyat was informed Thursday.

Deputy Finance Minister Datuk Donald Lim said among Proton’s present strategic links include product collaboration with Mitsubishi and regional cooperation with China and Iran.

“The increasingly challenging environment globally for the automotive industry will affect whatever efforts Proton takes towards a strategic partnership.

“However, a strategic partnership need not necessarily involve equity with one company only and such a practice is quite normal for a global automotive company,” he said when replying to a supplementary question from Khairy Jamaluddin (BN-Rembau) on Proton’s plans for a strategic partner.

Donald said the government will continue to ensure that Proton stays competitive, as well as raise the marketability of its vehicles, increase its operational capability and achieve economies of scale.