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Gui Shengyue,right, chief executive of Geely Automobile, speaks to reporters after a shareholder's meeting on May 25. (Photo by Jennifer Lo)
Business

Geely underlines global ambitions in wake of Proton deal

Chinese automaker aims to sell more abroad and eyes developed markets

JENNIFER LO, Nikkei staff writer | China

HONG KONG -- Top management of the listed arm of Zhejiang Geely Holding said they hope to turn the carmaker into a global player, just a day after its parent company announced a deal to acquire a 49.9% stake in Malaysia's struggling Proton Holdings.

Gui Shengyue, chief executive of Geely Automobile, the Hong Kong-listed arm of Zhejiang Geely Holding, said on Thursday the Proton deal would help the company to expand into Malaysia and Southeast Asia. He likened the move to the influx of automakers from the U.S., Germany, Japan and South Korea into China to seek opportunities and form joint ventures with local companies.

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