Proton - Mitsubishi alliance in the offing once again?

As the saying goes, "When one door closes, another one opens." What's true in life apparently also applies in the automotive world, if Tuesday's development with Proton is any indicator. The troubled Malaysian manufacturer has been looking for a joint-venture partner to stay afloat, but promising talks with Volkswagen earlier in the month came to nothing.

But Mitsubishi Motors (one of Proton's founding members, incidentally) came into the picture Tuesday when its CEO, Osamu Masuko indicated that his firm would be "very open to considering" a technology alliance.

When asked if a cash-infusion might be in the cards, Masuko dismissed the notion flatly, which makes sense in view of Mitsubishi's own financial travails.

[Source: Business Times]