epa04418025 Visitors look at the newly-launched Malaysian car Proton Iriz at a showroom in Petaling Jaya, near Kuala Lumpur, Malaysia, 26 November 2014. Malaysias car manufacturer Proton on 25 September launched the first compact car with a 1.3-litre engine, hoping to regain their domestic automobile market from mainly foreign competitors. The Iriz model is available in two engine variants, a 1.3 litre VVT (variable valve timing) and a 1.6 litre VVT. At prices between 42,438 and 62,888 Malaysian Ringgit (10,206 to 15,130 Euro or 13,000 to 19,278 US dollars) Proton targets to sell 16,000 units a month with the aim of selling some 160,000 units yearly. EPA/AZHAR RAHIM
THE recent announcement by automotive conglomerate DRB-Hicom Bhd
that it plans to raise RM2bil in funds, mostly to help turn around wholly-owned carmaker Proton Holdings Bhd, is seen as a move in the right direction by many.
One industry observer points out that Proton needs to develop new technology to help keep it competitive.
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