BUKIT LANJAN: Geely did not buy into Proton to fail!

Proton’s Geely Boyue SUV will be ready by Q4 2018; price and features will be a game changer – report
In CarsLocal NewsProton / By Matthew H Tong / 5 January 2018 10:43 am
Proton’s first ever SUV, which is based on the Geely Boyue, will apparently be ready by the fourth quarter this year, according to a report by The Malaysian Reserve. A source told the publication that the SUV is only expected to be ready for driving tests in October 2018, once the right-hand drive conversion and the necessary certification from relevant authorities are completed. “The process will include a certification from the NCAP (New Car Assessment Programme) and SIRIM (Scientific and Industrial Research Institute of Malaysia) before it can be released to the market. The process will take one year at least, to obtain these certifications,” the source explained to the daily. In any case, the timeframe is in line with what the company said last year … for more, go to https://paultan.org/2018/01/05/proton-boyue-suv-to-be-ready-by-q4-2018/#

BUKIT LANJAN: Geely did not buy into Proton to fail!

Geely-Proton critics, please take note of this corporate news headline - “China's Geely 2017 net profit soars amid global push”.

The next time you criticise Geely-Proton’s new management or the way it is managing Proton, just think twice.

“Can you run Proton any better than Geely? If so, then there wouldn’t be a need for a Geely-Proton joint-venture (JV), would it?” Gerakan Deputy Speaker Syed Abdul Razak Alsagoff aked.

He said it was time for Proton critics to stop trying to “teach ducks how to swim”, that is to say, “mind your own business”.

“Spend your time and energy on other more productive matters. Leave it to the professionals to turn Proton into a truly international automobile brand,” he added.

Uphill climb for Proton despite Geely’s entry

| June 9, 2017
Report says Geely has several plans to revamp the Proton brand and that DRB-Hicom's strategic partnership with Geely is the way forward.
KUALA LUMPUR: As part of its plan to revive Proton, new partner Zhejiang Geely Holding Group plans to revamp the product line and produce half a million vehicles in Malaysia by 2020. It may start exporting Proton cars to other Asean nations, according to a report in the Nikkei Asian Review (NAR). It said Geely might also review and improve dealerships. But it will not be easy. The report noted that despite Geely taking the lead, Proton would have a difficult route to travel, as it was not a “power” brand abroad and local sales had stalled. Geely agreed late last month to buy 49.9% of Proton from DRB-Hicom. The NAR report said Proton’s sharply deteriorating performance in the last two years had weighed on DRB-Hicom’s books. Proton’s market share hit just 12% in 2016, with vehicle sales totalling around 72,000 units … for more, http://www.freemalaysiatoday.com/category/nation/2017/06/09/uphill-climb-for-proton-despite-geelys-entry/

Syed Razak, who is Gerakan’s nominee to contest N.37 Bukit Lanjan in the coming 14th General Election (GE14), said “common sense dictates that Geely bought into Proton with a genuine belief that it can turn the ailing Proton around”.

“Do you think the Chinese are that stupid and foolish to buy into Proton if they did not think it is still a commercially viable company?

“Malaysians and all who are still employed in Proton should thank Geely for taking the risks to invest into such a company.

“They are into Proton not to fail. So, leave the new management alone to deliver the desired results,” he added.

Here’s the corporate news of Geely as posted by The Star Online:

"China's Geely 2017 net profit soars amid global push

Wednesday, 21 Mar 2018
12:48 PM MYT

Geely Chairman Li Shufu has been making a major global push.
SHANGHAI: Chinese carmaker Geely Automobile Holdings Ltd, whose chairman recently took a $9 billion stake in Germany's Daimler AG, said on Wednesday its profits more than doubled in 2017, driven by strong domestic sales of popular SUVs.

The automaker, based in the eastern Chinese city of Hangzhou, said in a stock exchange filing that 2017 net profit rose 108 percent to 10.6 billion yuan ($1.7 billion) from 5.1 billion yuan in 2016, slightly beating a forecast of 10 billion yuan from analysts polled by Reuters.

The carmaker saw revenue rise 73 percent to 92.8 billion yuan from a year earlier.

Geely Chairman Li Shufu has been making a major global push. He owns Volvo Cars and has built up stakes in truckmaker AB Volvo, Malaysian automaker Proton, flying car start-up Terrafugia and the maker of London's iconic black cabs.

The Daimler deal, which makes Li the largest shareholder in the owner of Mercedes-Benz, is part of an effort to strengthen Geely's technological muscle amid a shake-up of the global auto market by autonomous driving, electric vehicles and car-sharing.

Li, sometimes compared to U.S. auto icon Henry Ford, founded unlisted parent Zhejiang Geely Holding Group in 1986, which was at the time focused on refrigerators. He moved into motorbike manufacturing in the 1990s before switching to cars in 1997. - Reuters



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