Zafrul: Proton’s Turnaround Driven by Geely, Has e.MAS CKD Quietly Started?

Proton’s turnaround story has been credited to its partnership with Chinese carmaker Geely, according to Investment, Trade, and Industry Minister Tengku Zafrul Abdul Aziz.

In a written reply to Parliament, Zafrul said Proton had been making losses for four years from 2012 to 2016. That changed after Geely took a 49.9% stake in 2017. The collaboration, he said, transformed Proton’s operations and future direction.

One major outcome of the partnership is the transfer of key automotive technologies. These include modern platforms, energy-efficient engines, and electrification systems that helped Proton update and improve its vehicle lineup.

Vehicle sales tell the story. From 71,000 units sold in 2016, Proton’s sales more than doubled to over 152,000 units in 2024. Market share rose as well, from around 12.5% in 2016 to about 18.7% in 2024.

Zafrul pointed out that this was driven by the introduction of new models like the X70, X50, X90, and S70, which offered better technology, design, and pricing.

He also revealed that two Geely electric vehicle models are currently being assembled locally for both the Malaysian and regional markets. While he did not provide specific details, it’s widely expected that these models are the e.MAS 7 and the soon-to-be-launched e.MAS 5.

Local assembly could help position the e.MAS 5 at its anticipated RM80,000 price point, making it a strong contender in the affordable EV segment.

When asked by Kepala Batas MP Siti Mastura Muhammad about the nature of Proton’s partnership with Geely, Zafrul confirmed there is a joint venture agreement signed in June 2017.

He said this collaboration has opened the door for Proton to export more cars across Southeast Asia and beyond. Export volumes jumped from just 1,145 units in 2018 to over 4,765 units in 2024, marking a 316% increase.

Proton’s current export markets include Pakistan, Brunei, Bangladesh, Mauritius, and South Africa.

Since the start of the partnership, Proton has made significant investments amounting to over RM4.71 billion. This includes EV plant upgrades, new production lines, R&D, and workforce training.

The partnership also allows Proton access to Geely’s global expertise, its technology, supply chain, management systems, and vehicle design know-how. In fact it is no secret that Proton now has its own R&D facility in Geely’s facility at Hangzhou Bay, China.

Zafrul said this cooperation has not only helped Proton regain its footing locally but has also strengthened its regional presence.

Source: MalaysiaKini