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Geely vows to safeguard Proton as Malaysia's 'national car'

With a 49.9% stake, the Chinese automaker secures production base in Southeast Asia

CK TAN, Nikkei staff writer | China

KUALA LUMPUR -- Zhejiang Geely Holding Group is buying nearly half of DRB-Hicom's stake in Proton Holding, Malaysia national automaker, beating out two other bidders to secure a foothold in Southeast Asia.

The deal also reflects the growing political warmth between China and Malaysia, as Beijing seeks to expand its regional influence through trade and military ties.

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