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GM to bid for Malaysia’s Proton

Viknesh Vijayenthiran

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GM to bid for Malaysia’s Proton

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Malaysia’s state owned Proton has been losing market share to a host of international competitors as well as Malaysia’s own Naza and Perodua Motors. Its market value is at an all time low, so it comes as little surprise that there are several major carmakers interested in bidding for the company, including General Motors which is reported to be planning a bid of its own. GM would join Volkswagen AG and PSA Peugeot Citroen which are also reported to be preparing their own bids.

The New Straits Times has reported that several GM officials have met with Proton management and shareholders. If successful, GM would take a stake in both the holding side and manufacturing arm. Malaysia’s government is keen to provide Proton with international expertise and a tie-up with a foreign giant would be ideal.

The government, who still owns 59 percent of Proton, would prefer either Germany's Volkswagen or France's PSA Peugeot Citroen. Proton has a major controlling arm in the UK’s Lotus, so any manufacturer that gets its hands on the Malaysian carmaker will be able to exploit the talents of the maker of some of the best handling cars on the planet.