Li Chunrong was hired by Chinese carmaker Geely to revive the fortunes of the Proton brand in Malaysia, and it took him two years to outshine Japanese giants Honda and Toyota. Now he plans to take the fight to Southeast Asia and beyond.
Appointed CEO of Proton in 2017 when Geely acquired 49.9% of the corporate, Li has turned across the once-famous Malaysian brand, which needed to depend on state aid after a series of losses, and has built its success on an aggressive drive to chop costs.
Now Geely has told Proton’s boss to expand across the region, initially specializing in Thailand, Indonesia, Singapore and Brunei, Li told Reuters – the primary time specific details of the brand’s expansion plans have been revealed.
Like Malaysia, these are right-hand drive markets, so require fewer automotive modifications. Proton also intends to enter the Middle East and increase sales to Egypt, said the 56-year-old Chinese national.
Li didn’t give a particular timeframe for expansion into specific markets, but said Proton wants to extend overseas sales – which last yr amounted to about 1,000 cars, or 1% of total sales – no less than fourfold this yr.
The carmaker wants 40% of its sales to come back from overseas markets by 2027, it told Reuters in two interviews, pointing to Thailand and Indonesia as key markets but declining to stipulate its strategy for breaking through them.
We have good foundations, he said. “We are committed to bringing a new model to market every year.”
(REUTER)
