General Motors considering bid for Proton, Lotus
January 16, 2007 9:29PM by Michael Savio
General Motors has shown interest in acquiring Malaysian automaker Proton, according to Reuters reports citing Malaysia’s Second Finance Minister Nor Mohamed Yakcop. Proton is losing local market share and struggling in foreign markets against South Korean and Japanese automakers. GM could use Proton’s production facilities to build low-cost cars.
“Let me put it this way; GM has shown interest in Proton, and if they put in a bid we will consider it,” said Nor Mohamed. “There are three of them now who are foreign companies that are interested and they come in different forms and proposals. Now we are finalising the discussions and the comparisons, they are not identical interests.”
Initial discussions have ended, and the government is now evaluating the proposals and will make a decision soon.
Proton is mostly known in the U.S. for its acquisition of sportscar maker Lotus in 1996.
## Source: Reuters ##
Posted in: Lotus, GM, Business, Other Automakers, News
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January 26th, 2007 at 5:47PM
[…] It has been reported that VW, PSA Peugeot-Citroen, General Motors, DRB-Hicom and the Naza Group have made proposals to the government to take a stake in the ailing automaker, with Malaysia’s government reportedly preferring either VW or Peugeot-Citroen. […]