Motor Authority came across an article in XFN-Asia that says VW won the bidding contest for controlling stake of Malaysia's Proton. Although the report is light on details, it seems that a source who was privy to the deal confirmed that Volkswagen will be purchasing the required 51-percent of Proton's manufacturing arm and that an official statement will be released on February 8th.
If the source is to be trusted, that means that both GM and PSA Peugeot-Citroen were ousted from the runnings, which is little surprise, as VW has had a long standing relationship with the state-owned automaker.
[Source: Motor Authority]
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Reader Comments (Page 1 of 1)
far jr @ Jan 27th 2007 9:48AM
A new plant for Asian Beetles and Rabbits?
24fps @ Jan 27th 2007 10:11AM
The release states VW bought 51% of the Proton Manufacturing division, not 51% of Proton Holdings. In other words they bought the factory, not the company.
Jit @ Jan 27th 2007 10:32AM
"VW’s expected to purchase up to 51% of Proton’s shares, giving the German giant control over the Malaysian carmaker’s operations."
No they have brought 51% of the car company and not the parent company. Either way I prefer Volkwagen buying into Proton(Including Lotus) then GM anyday.
Damon Lavrinc @ Jan 27th 2007 10:46AM
Thanks for looking out. It's been corrected.
Howard Kerr @ Jan 27th 2007 11:23AM
VW has had a LONG STANDING relationship with Proton? Wow, they both did a good job of keeping it secret, then. I know Proton has / had a long standing relationship with Mitsubishi, to the point that until recently, MOST...if not all of Proton's passenger cars were little more than lightly "tweaked" Mitsubishi leftovers. I wonder what VW contributed to this "relationship"?
Since Proton is state-owned AND consists of more than just a car and truck manufacturing company (somewhat like Hyundai is more than a car company), I imagine that the other posters here are correct in saying that VW has a 51% stake in the Proton VEHICLE manufacturing company.
phil @ Jan 27th 2007 11:31AM
Asian Beetles -- Lol!
georgejetson @ Jan 27th 2007 12:15PM
This is the best thing that has happened to GM in months.
Howard Kerr @ Jan 27th 2007 12:18PM
Mr. Lavrinc might want to look at the Wikpedia entry on Proton, before calling Proton's relationship with VW LONG STANDING. While I realize Wikpedia isn't THE complete authority on anything, according to the entry on Proton found there...VW and Proton's relationship became "formal" in 2004. Not exactly what most folks would call long standing. The "link-up" with Mitsubishi, on the other hand, started in the early '80s. A relationship going back MORE than 20 years sure meets my definition of long-standing.
SherbornSean @ Jan 27th 2007 12:58PM
I wouldn't mind seeing an Elise with VW's 2.0T in it!
Paul Tan @ Jan 27th 2007 3:19PM
actually, volkswagen never had a long standing relationship with proton, they've just had the longest talks. of all the three bidders, only PSA peugoet citroen has had some form of relationship with proton - proton rebadged the citroen AX as the proton tiara.
epp_b @ Jan 27th 2007 4:52PM
Thank GOODNESS GM didn't get it.
John P. @ Jan 27th 2007 8:02PM
I agree, I'm glad GM didn't get into Proton, Proton is a sinking ship if I ever did see one.
lgm @ Jan 28th 2007 11:37AM
I wonder what VW going contribute to Proton... maybe with its boring design...