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Proton eyes RM2 bln revenue from tie-up

Posted on: March 31, 2009


Bernama – Tuesday, March 31

PUTRAJAYA, March 30 (Bernama) — Proton Holdings Bhd expects to record a revenue of RM2 billion over the next four years following its strategic tie-up with Detroit Electric Holdings Ltd on licensing and contract assembly.

Managing director, Datuk Syed Zainal Abidin Syed Mohamad Tahir, said the investment would be minimal and the expectation was based on production of 40,000 electric cars annually.

“If you look at the volume, we are looking at a period of over four years for about RM2 billion in revenue,” he told reporters after the signing ceremony here today.

He said Proton was also looking at the possibility of selling the pure electric vehicles (PEVs) in Malaysia and Association of South-East Asian (Asean) market.

Under the five-year contract, Proton has been given the right to sell the PEVs under the Proton brandname in the local, Asean and potentially in the OIC (Organisation of the Islamic Conference) markets.

Earlier, in his speech, Syed Zainal Abidin said Proton wanted to work with the government to set up the foundation and infrastructure for building electric-based cars.

By 2013, Detriot Electric plans to sell more than 270,000 PEVs in Europe, the UK, China and the US. — MORE

NBB/PKSB THS

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