Renault, Suzuki said to be among carmakers shortlisted by Proton

Proton also needs to develop a solid business plan.

KUALA LUMPUR: Proton Holdings Bhd., the Malaysian automaker privatised three years ago, has shortlisted carmakers including Volkswagen AG’s Skoda unit and Suzuki Motor Corp to sell a stake and raise money to turn around, people familiar with the process said.

The carmaker has also chosen proposals from companies including Renault SA and Peugeot SA, said two of the people, who asked not to be identified as discussions are private. A stake of as much as 51% will be sold in Proton, which also owns British sports-car maker Lotus Cars Ltd, two people said. The carmaker plans to trim the list further by the end of October, the people said.