Malaysia's Proton Roaring Back to Iran
Proton Holdings Bhd will be returning to Iran following the incorporation of Proton Motor Parsian Co Ltd (PMPC) on April 10. “The intended...
https://automology.blogspot.com/2018/04/malaysias-proton-roaring-back-to-iran.html
Proton Holdings Bhd will be returning to Iran following the incorporation
of Proton Motor Parsian Co Ltd (PMPC) on April 10.
“The intended activities of PMPC are to undertake business in the field of car assembly, with completely knocked down (CKD) and semi knocked down (SKD) parts, production, exports and imports, as well as car accessories and spare parts,” parent company DRB-Hicom said.
Prior to this, Proton used to sell its cars in Iran and had a joint venture with a local partner to assemble selected models in the country.
In January 2017, it was announced that Proton had no intention of activating a dormant unit in Iran— which was set up in 2011 with the intention to assemble car in the country—to carry on business or undertake operations in the future. That project never took off the ground following an economic sanction on Iran by the US and Proton’s own financial difficulties, and last September, Proton had it dissolved.
But now, with Geely’s backing, it makes economic sense to get back into a market in which it has done reasonably well previously.
“The intended activities of PMPC are to undertake business in the field of car assembly, with completely knocked down (CKD) and semi knocked down (SKD) parts, production, exports and imports, as well as car accessories and spare parts,” parent company DRB-Hicom said.
Image credit - https://financialtribune.com
Prior to this, Proton used to sell its cars in Iran and had a joint venture with a local partner to assemble selected models in the country.
In January 2017, it was announced that Proton had no intention of activating a dormant unit in Iran— which was set up in 2011 with the intention to assemble car in the country—to carry on business or undertake operations in the future. That project never took off the ground following an economic sanction on Iran by the US and Proton’s own financial difficulties, and last September, Proton had it dissolved.
But now, with Geely’s backing, it makes economic sense to get back into a market in which it has done reasonably well previously.
