Proton Plans to Expand Globally, Aims to Re-enter the UK Market Later This Decade.
Proton is preparing for a significant push into global markets, including a return to the UK and entry into new right-hand-drive markets such as Asia, South Africa, Australia, and New Zealand.
This expansion is linked to the development of the Automotive Hi-Tech Valley (AHTV) in Tanjung Malim, a new advanced factory being built. This project, funded by Geely and DRB-HICOM Berhad, aims to increase Proton’s production and help it sell more cars worldwide.
The AHTV, with an investment of up to £7.9 billion, will greatly enhance Proton’s manufacturing capabilities. This new facility will support Proton’s re-entry into markets it left before and explore new ones. The investment is part of a bigger plan to strengthen Proton’s global presence, which previously included selling cars in the UK from 1989 to 2014.
“We’re ready to use our bigger production capacity to go back to markets we left before and to enter new ones,” a source close to Proton’s management said. Although we don’t have a set date for returning to the UK, we anticipate significant export growth later in this decade.
Proton currently offers four models based on Geely cars: the X50 (Binyue), X70 (Boyue), X90 (Haoyue), and S70 (Emgrand). They also continue to sell older models from their past partnership with Mitsubishi, like the Saga, Persona, and Iriz.
To update and expand its range, Proton has launched the e.MAS brand and introduced the e.MAS7 electric vehicle. This new model is based on the Geely Galaxy E5 SUV and shows Proton’s commitment to developing electric cars in Malaysia.
The company has opened a new R&D center at Geely’s Research Institute in Hangzhou, China, in addition to its existing one in Malaysia. This setup will facilitate the development of new models, including updates to the Saga, Persona, and Iriz, and tailor vehicles for different export markets.
Geely’s investment in Proton is boosted by Malaysia’s good trade connections with major markets like the US and the European Union. This is expected to enhance Proton’s export opportunities and stay competitive.
“Geely’s investment in Proton highlights the strategic advantages of Malaysia’s trade connections, which are key for entering global markets,” said Malaysian Prime Minister Anwar Ibrahim.
With these advancements, Proton seeks to strengthen its global presence and seize new opportunities, pushing forward its goal of becoming a major player in the international car market.
09 Aug 2024
