It would mark the company’s first annual profit since Zhejiang Geely Holding Group, owner of Volvo Cars, bought a 49.9 per cent stake in the loss-making company in 2017, injecting cash and new technology to help Proton’s turnaround.
Proton reported a net loss of RM481 million in its financial year that ended in March, according to local conglomerate DRB-HICOM, which owns the remaining stake at Proton. The company is nearing its target of selling 93,000 cars this year and expects sales to hit 100,000 units, up around 54 per cent from last year.
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