SINGAPORE -- Malaysian automaker Proton Holdings and major Chinese shareholder Zhejiang Geely Holding Group upgraded their partnership Saturday with plans for a new car factory in China and cooperation on electric vehicles.
As visiting Malaysian Prime Minister Mahathir Mohamad looked on, the two car companies signed an expanded partnership agreement at Geely headquarters in Hangzhou, China. Geely and Proton will form a joint venture that will assemble cars in China for the Chinese market.
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