Mitsubishi - Proton Alliance

Business Times reports about a new alliance between Mitsubishi and Proton car manufacturers:

"The head of Mitsubishi Motors Corp said today the Japanese carmaker was open to forming a technology alliance with Proton.
Mitsubishi Motors was one of the founding members of Proton and a major shareholder until its own financial difficulties forced it to sell off its 8 per cent stake in early 2004. Mitsubishi Motors still supplies car parts to Proton.

Proton, the brainchild of former Prime Minister Tun Dr Mahathir Mohamad, suffered a setback earlier this month when Volkswagen AG suddenly pulled out of a joint-venture plan, fanning speculation of tie-ups with other carmakers.That sent shares of Proton spiralling to their lowest in more than four years,"If there is something we can help with, we would be very open to considering it," chief executive officer Osamu Masuko said at the launch of Mitsubishi Motors' new "i" minicar in Tokyo today."

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