The dance between French-based PSA Group and Malaysian automaker Proton has yielded some developments, with the two slowly inching toward a strategic partnership that would likely yield a significant boost for the former’s South East Asian reach.
Until now, both companies have kept silent on the matter, but Automotive News reports that PSA has confirmed it has submitted a bid for Proton, which is currently owned by DRB-Hicom. Supposedly, Geely is still also in the mix to steal the deal away from PSA, though there have been no solid news the progress of those discussions.
Should the ink dry on the PSA partnership, Proton’s facilities will give the group a regional advantage to expand its market share, acting as a manufacturing and export base for its Peugeot, Citroen, and DS cars.
Geely’s argument is that both companies can aid each other in common goals, with the Chinese automaker’s ambitious electrification goals benefitting Proton by way of new technologies and platform sharing co-developed with Volvo.
Either way this deal swings, PSA does seem to be in something of an acquisition scramble here, with another set of discussions with General Motors about the European division - namely, Opel and Vauxhall.
Elsewhere, PSA has also announced that they are partnering with TravelCar, a French company that offers peer-to-peer ride-sharing at airports and train stations in Europe, starting with a $16 million Euro investment.
Back to the possible PSA and Proton deal, both companies will likely say little about the status of this partnership until more facets of it are confirmed. DRB-Hicom, Proton’s parent company, has stated that an official announcement will be made by the end of the first half of 2017.
