Proton denies knowledge of GM bid

While it's pretty clear that GM is n government owns 53% of Proton and is in negotiations with several suitors to sell some of that stake, government officials say. Forbes reports that the Malaysian's want the deal finished by March, so we shouldn't have too long to wait. That same article states, "The current bid involves a plan to take a small stake in Proton at the holding level, as well as a stake in its manufacturing arm, Proton said."

So why is GM so keen on buying into Proton? Here are some of our ideas...
  • Proton owns Lotus, which was once owned by GM. Is this merely an effort to regain a lost love? Uh, not likely.
  • GM rolled out the Volt electric concept last week in Detroit, despite reportedly not having the technology to back it up. Is it just coincidence that Lotus is working to design advanced electric vehicles for Obvio! and has been working with the Tesla gang? Or is GM angling to buy into that technology?
  • Or is GM looking to get a piece of the Chinese-carbuilding action? Also not likely at all since they're already involved in building cars in China and doing quite well at it.
  • Proton sells vehicles in many countries not served by the General. A stake in the Malaysian company could be seen as a good entry point to otherwise hard-to-reach markets.

[Source: Forbes via Paul Tan]

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