KUALA LUMPUR, Malaysia— A new CEO appointed by Chinese automaker Geely to head Malaysia’s Proton has presented a 10-year plan to revitalize the national car maker as he vows to make Proton amongSoutheast Asia’s top vehicle brands.
Geely recently acquired 49.9 per cent of Proton in a deal that gives the Chinese company a platform to expand in Southeast Asia where non-Japanese brands have struggled. Malaysian conglomerate DRB-Hicom retains a 50.1 per cent stake in Proton.
Geely and DRB-Hicom announced Friday that Li Chunrong will take over as CEO of Proton’s manufacturing arm but that he will be responsible for the entire operations of Proton.
Li said Friday it was time for a tough revamp to enable Proton to be a “top three ASEAN brand in the next 10 years.”