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Proton teams up with Mitsubishi

Malaysian national carmaker Proton Holdings Bhd has formed an alliance with Japanโ€™s Mitsubishi Motors Corp. to jointly develop a new Proton vehicle, in an effort to modernize its vehicle line-up and improve component quality. As part of the deal, Proton can use Mitsubishi Motors’ technical assistance and information to restyle or modify the new model, as well as to manufacture local parts and provide after-sales services, Proton said. Proton has improved its domestic market share to 33% in 2008 from 24% in 2007, after introducing several inexpensive models. (December 8, 2008)