Geely acquisition of Proton rumors to be put into production in Malaysia

Posted on 5/25/2017 10:41:40 AM

Geely Holding Group today, the Group and the Malaysian DRB-HICOM Group (hereinafter referred to as "DRB") signed a binding key terms agreement, Geely will acquire the latter's Proton 49.9% of the shares and luxury sports car brand Lu Te Si Lotus Group) 51% of the shares, Geely Holding Group will become the exclusive foreign strategic strategic partner.
"Daily Economic News" reporter learned that from 2014 onwards, Geely Holding Group will buy Po Teng car news has been spread in the industry, during which also experienced a number of Geely Holding Group denied. With the agreement reached and published, rumors about the deal have been waiting for the formal results, and Geely Holding Group and Proton and Luther brand brand has just begun.
More importantly, Geely Holding Group has just released at the Shanghai auto show brand or brand will be put into production in the Proton Malacca factory.
Or put into production
At present, the amount of acquisitions and the specific strategy after the acquisition, Geely has not disclosed more information. However, as early as March of this year, the Malaysian information website Paultan had reported that Geely took a look at Proton cars in Malaysia, Tanjung Malim (Tanjung Malim) factory, if the acquisition agreement reached in the factory will be put into the right rudder version Leader 01 SUV models for export to the UK, Australia and other markets.
According to close to the acquisition of the relevant person to the "Daily Economic News" reporter said, put into production grams of cars are indeed in the content of both sides of the negotiations.
In addition, Paultan website latest reports, the two companies are also today's press conference and the agreement signed the ceremony revealed that the two sides once this hand an important reason is that Geely promised to provide the chassis technology. The report said, "Geely this time also in the scene of a film confirmed that Proton will provide Bo Vietnam SUV chassis."
Geely from the point of view, to help treasure brand to restore the glory of the past is one of the important after the acquisition. Geely Holding Group Executive Vice President, CFO Li Donghui made it clear that: "We will fully respect its brand history, to Geely's innovative technology and system management capabilities as the basis, remodeling treasure Teng past brilliant."
In view of this, Po Teng car brand as Malaysia's "FAW", although the market position in recent years as before, and has been a loss for five consecutive years, but it can not be abandoned. Whether it is from the technical level to provide support, or through external forces on the management of Po Teng car reform, then how to help the brand continue to develop will be an important task Geely.
Accelerate the globalization of the layout
"Bao Teng and Lute Si joined the Geely Group will further improve the layout of the globalization ... ... Po Teng Motor Company will also be a lucky to enter the Southeast Asian market, an industry cooperation base," said Li Donghui. Since it has been Po Teng car in the bag, then use the resources of the Proton Geely, collar grams, Volvo brand into Malaysia and even Southeast Asia market also let it be.
Moreover, not only the expansion of the market, Po Teng and Lute Si brand after the incorporation of Geely Holding Group is equivalent to owned Baoteng, Geely, collar grams, Volvo and Lute Si five brands, and brand positioning from the low end, Mid to high-end are more perfect. Automobile analyst Tian Yongqiu that this is equivalent to Geely is a big step forward, Geely Holding Group officially joined the ranks of multinational car prices.
However, Lu Tesi as a global high-end sports car brand, after the acquisition of Po Teng car, have also sought cooperation, the recent is also a joint venture with Guangdong Dongguan Venus Heavy Industries. As Geely has been holding Po Teng car, it is expected that the next joint venture will also have a link.

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