Proton rolls out new logo and tagline, says it’s set to break even this year

SHAH ALAM: Proton Holdings Bhd is on track to break even by the end of the year, according to its CEO Dr Li Chunrong.

“Our target for Proton is to achieve a 400,000 unit sales by 2027 and to be one of the top three car companies in the Asean region and the number one in Malaysia,” he said at a media briefing in conjunction with the unveiling of Proton’s new logo today.

For this year, up to the end of August, the group recorded 36.25% growth in sales to 61,396 units from 45,062 units reported in the same period last year. This was despite a 5% decrease in total market volume.

With regard to its Asean ambitions, Proton remained tightlipped about its overseas plans.

Group chairman Datuk Seri Syed Faisal Albar said Proton is conducting studies to venture into a few international markets. “The study is not only whether it’ll sell but also about the nation’s automotive policy,” he said.

In its heyday, Proton exported more than 20,000 units a year. In 2017, its exports tumbled to 248 units and it shipped over 1,000 units overseas last year.

Syed Faisal conceded that the automaker had some issues in the past, particularly concerning quality. However, he said, its market performance serves as a barometer on the issue.

He highlighted that based on Geely’s internal quality audit, Proton has seen a sixfold improvement over the last assessment that was conducted in July last year.

“That is a significant achievement for us and we are not stopping there, we want to do much better,” Syed Faisal said.

When asked whether Proton has any plans to venture into the electric vehicles (EV) segment, Li said that such a venture will hinge on government policy on the matter.

“Based on the policy, we will do something in response to EV cars,” he said.

Apart from the logo change, Proton has come out with a new tagline “Inspiring Connections”, a change from “It’s in the Drive”.

Li elaborated that the change captures Proton’s new ethos and ambition to become a truly modern and global automotive brand.

“Our new ethos comprises our core values of always using innovative technology, our commitment towards reliability and adopting an international point of view.”

The new logo will make its debut on the completely knocked-down version of the popular sport-utility vehicle Proton X70, which is expected to be launched by the fourth quarter of this year.

source https://www.thesundaily.my/business/proton-rolls-out-new-logo-and-tagline-says-it-s-set-to-break-even-this-year-ND1401719