KUALA LUMPUR: THREE foreign carmakers are expected to make firm offers for a strategic partnership with Proton Holdings Bhd as early as next month, said Proton chief executive officer Datuk Ahmad Fuaad Kenali.
He said the shortlisted foreign carmakers — which he declined to name — were expected to conclude their due diligence on Proton this month.
“All the three shortlisted foreign carmakers are currently doing their due diligence. We expect this to be completed this month.
“They are expected to come up with the binding offers next month,” said Ahmad Fuaad during Proton Ertiga’s media drive to Kuala Selangor yesterday.
Proton parent DRB-HICOM Bhd reportedly narrowed down the choice of potential partners from about 15 originally to eight. The list was further trimmed to five before coming to the final three.
The three are believed to be China’s Geely Automobile Ltd, as well as French carmakers Groupe PSA and Renault SA. The latter is part of the Nissan-Renault alliance.
The company selected is expected to provide support in terms of advanced technology, global reach and
economies of scale.
The foreign partner, in return, will potentially be given a stake in Proton.
Finding a strategic partner is one of the conditions set by the government in return for a RM1.25 billion soft loan given to Proton in March last year to rejuvenate its operations.
The carmaker must find a partner by March this year.
DRB-HICOM group managing director Datuk Seri Syed Faisal Albar had earlier said the group hoped to finalise the strategic partner for Proton by the first half of this year.
Ahmad Fuuad hinted that the March deadline would have to be extended to possibly June.
On the national carmaker’s sales, he said Proton was targeting a total of 120,000 units this year.
It is banking on the new Saga, Persona, Perdana and the Ertiga compact multi-purpose energy efficient vehicle to help it rebound from sluggish sales performance last year.
The company likely sold less than 100,000 units last year, partially due to the late launches of the four new models.