I am sure all of you have heard the shocking news that Volkswagen AG has abandoned plans plans to form an alliance with Proton Holding Bhd. Quite contrary to what we had been led to believe (Read this post).
Volkswagen group CEO Bernd Pischetsrieder was quoted as telling analysts at the North American International Auto Show in Detroit on 11 January that the company had "specific ideas" about its relationship with Proton, "Unfortunately the Malaysian government, Khazanah and Proton had different ideas. Therefore what we wanted in the cooperation with Proton will not materialise".
However, he added that VW will consider "a few isolated projects ... to support Proton."
Following that news, Proton's share price went on a downtrend, falling almost 20%. As of today (2 pm) Proton was still the top loser on the KLSE with price falling 70 sen to RM5.65.
TAGS: Proton Volkswagen
Popular Posts
-
Most of us know of Hertz as a reputed car rental company. However, not many are aware that Hertz also sells exceptional used cars as well. ... -
The Tata Indica Vista EVX was developed at the Tata Motors European Technical Centre (TMETC) based at Warwick University by a 230-strong tea... -
This story is a bit old but I decided to put it up anyway. Mazda Motor Corporation launched the World premiere of the new European spec Maz... -
El lunes 13 de agosto de 2013 publiqué una breve nota sobre una vieja publicidad del Fiat 1500 Gran Clase C cuando fue lanzado en el año 196... -
Wrote this much earlier but forgot to post it up. At the A1 Grand Prix series (the eighth round ) in Sentul, Indonesia, on the 12 of this mo...
-
Just last month, Tata the new owners of Jaguar and Land Rover announced that 850 workers could lose their jobs . This was following a meetin...
-
According to the Malaysian Automotive Association's (MAA) annual report, auto sales in Malaysia were down 11% in 2006 from the previous ...
-
A batch of MG Rover cars left the Longbridge plant in Birmingham today - the first time since April 2005 when MG Rover was taken over by Nan... -
I know that Jay Leno is the host of NBC television's long-running talk show " The Tonight Show ". However, I didn't know t...
-
Lord Bhattacharyya , who founded the Warwick Manufacturing Group at the University of Warwick says “How often do two such icons come up for ...
No comments:
Post a Comment