Proton vendors sign agreement with foreign vendors

DRB-Hicom Bhd , which is the parent company of Proton Holdings Bhd, was up two sen to RM2.25 following the announcement.

KUALA LUMPUR: Proton Holdings Bhd (Proton) vendors have inked collaborative agreements with foreign vendors that will see an initial investment of RM47mil into Malaysia. 

The collaborative agreements, which was inked at the Matrade Exhibition and Convention Centre today, will range from technical agreements and joint ventures to 100% foreign direct investments with foreign vendors investing into the Malaysian economy. 

Apart from investments in facilities and technology, the collaborations are expected to create approximately 450 new jobs in the automotive industry, ranging from assembly to design engineering that requires highly skilled workers. 

The vendors will supply parts to Proton’s manufacturing facility in Tanjung Malim, which is currently undergoing plant expansion initiatives at a cost of RM1.2bil. 

Meanwhile, following on from its official launch on Dec 12, 2018, bookings for the Proton X70 has exceeded 15,000 units, with over 2,000 units delivered so far.