InfoAnda - Malaysia's Proton signs tech deal with Nissan

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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Australia China India Indonesia Japan Malaysia Philippines Thailand Vietnam Malaysia's Proton signs tech deal with Nissan AFP - Thursday, March 3 Send IM Story Print KUALA LUMPUR, March 3, 2011 (AFP) – Struggling Malaysian car maker Proton said Thursday it had signed a deal with Japanese giant Nissan to share technology as it looks to boost its presence and competitiveness overseas. The state-controlled company, which announced an unexpected quarterly loss last month, signed an agreement with Nissan to undertake a three-month "feasibility study" to look into technology co-operation. Proton said it hopes to incorporate "select technologies and manufacturing expertise" from Nissan into its cars upon completion of the study. "This study we have agreed to do will focus purely on technology sharing," Syed Zainal Abidin Syed Mohamad Tahir, Proton Holdings Berhad group managing director said in a statement to AFP. Syed Zainal said a technical pact with Nissan, Japan's second largest carmaker, will allow Proton to reduce time and cost to develop new models that will appeal to consumers. Proton has been searching for a collaborator in a bid to penetrate foreign markets and develop attractive models to compete with growing competition from Japanese, European and Korean carmakers in its domestic market. The announcement comes after the Lotus group, which is owned by Proton, announced last December that it has taken a major equity stake in the Renault Formula One team, which will this year be renamed "Lotus Renault GP". French automaker Renault has a 45 percent stake in Nissan. Proton was formed in 1983 by then-premier Mahathir Mohamad as part of an ambitious national industrialisation plan. But it has suffered from a reputation for unimaginative models and poor quality. The firm last month announced a net loss of 60.1 million ringgit ($19.8 million) in the third quarter to December 31 compared with a profit of 79.7 million ringgit a year earlier. In afternoon trading in Kuala Lumpur Proton's shares were down 0.3 percent at 3.50 ringgit. Recommend Send IM Story Print Related Articles China tightens reporting noose on foreign media Reuters - Friday, March 4 Pakistan vows to battle extremism after minister slain Reuters - Friday, March 4 Only 6 percent in China happy, survey finds ANN - Friday, March 4 Indonesians shopping less but spending more money ANN - Friday, March 4 Indonesian teenager arrested for condom possession ANN - Friday, March 4 News Search Top Stories US jobless claims drop near three year low Libya live report ECB leaves key interest rate at 1% Britain clears way for News Corp/BSkyB deal No evidence yet of spying at Renault: French police More Top Stories » ADVERTISEMENT Most Popular Most Viewed On the nose: Sharks are stunning navigators Two US airmen shot dead at German airport Kadhafi warns of bloodbath if West intervenes Manchester City, Arsenal advance to FA Cup quarters Libya live report More Most Viewed » More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Weekend Edition Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo! Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Entertainment Photos Yahoo! News Network Copyright © 2011 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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