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Old 08-30-2007, 01:00 PM
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Arrow GM forms Chevrolet venture in Malaysia

Kuala Lumpur: GeneralMotors tied up yesterday with Malaysia's DRB-HICOM Bhd. to explore making Chevrolets for Southeast Asia, but the US auto firm is still interested in forming an alliance with national carmaker Proton, officials said.

Steve Carlisle, president of GM's Southeast Asia operations, said GM had made a "broad" proposal to the Malaysian government, including the possibilities of manufacturing Proton or GM cars, or of cooperating on a new vehicle.

"Obviously, we would like to have an influential role in the company (Proton)," Carlisle told reporters.

Money-losing Proton, which is 43 per cent owned by state investment arm Khazanah Nasional, is searching for a foreign partner to curb dwindling sales and boost exports. Proton has been actively in talks with Germany's Volkswagen AG, which is considered the front-runner.

Source: [url=http://www.gulfnews.com/business/Automobiles/10149858.html]Gulf News[/url]
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