Volkswagen has announced cancellation of its plans to work with Malaysia's Proton to build and sell VW's for the local market.
Volkswagen entered a long-term strategic partnership with Proton in 2004, as a way for VW to enter the Southeast Asian market without major investment.

VW chief executive Bernd Pischetsrieder (shown at right with Malaysian officials at the 2004 signing of the partnership agreement), announced to investment analysts Wednesday that VW was unable to come to an agreement with Proton and the Malaysian government (which controls the company).

A webcast of the analyst's conference is available here.

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