Proton Might NOT Be Bought Over By The Volkswagen Group
Looks like Proton might not see a German partnership in the near future. Labour representatives at Volkswagen AG are NOT in support for any further acquisitions by the German carmaker in the near future. Bernd Osterloh, a works council chief told local the daily German newspaper ‘Handelsblatt’ yesterday. Osterloh commented that VW already has 12 brands and it needs to stabilize the group first before acquiring another car brand or another company.
Sources privy to VW told Reuters in July this year that the German carmaker was considering either a minority stake or a controlling stake in Proton, in order to tap the demand in the growing Southeast Asian markets. According to Osterloh, even though further sales and production plants in Southeast Asia are important, VW’s workers do not support the company’s plans for such acquisition. VW has been acquiring several brands for the past years, including Scania, MAN, Porsche and Ducati, as part of its effort to surpass General Motors Co. as the top vehicle manufacturer by 2018. This means that Proton’s new owner, DRB-Hicom will have to continue to keep Proton healthy and profitable.
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