Beijing - Chinese automaker Zhejiang Geely Holding Group is expected to bid as early as this week for a strategic partnership with struggling Malaysian car maker Proton Holdings, two people familiar with the bidding process told Reuters.As part of its pitch following discussions with Proton's owner, Malaysian conglomerate DRB-Hicom, Hangzhou-based Geely, which owns Sweden's Volvo Car Group, is expected to offer Proton some of the latest vehicle technologies it has developed with Volvo’s input.
DRB-Hicom said earlier this month it was waiting for prospective foreign car-makers to submit bids for a strategic partnership.
Proton received 1.5 billion ringgit (R4.4 billion) in government aid a year ago on the condition that it implemented a turnaround plan and sought a foreign partner to help its research and development.
In response to Reuters’ requests for comment, Mahmood Razak, DRB-Hicom’s head of strategic communications, said: “We have nothing new to say,” noting a previous statement about it being a complex process.