Proton's turnaround won't take a long time: Geely

KUALA LUMPUR: China's Zhejiang Geely Holding Group Co Ltd is non-committal on how soon DRB-Hicom Bhd's automotive arm Proton Holdings Bhd could return to profitability following its emergence as a substantial shareholder of Proton.

Geely chairman Li Shufu said the group is not able to disclose an exact timeline, except to say that it has a "good plan" in mind.

"This plan will be made known soon. We have confidence in Malaysia, it won't take a long time," he added.

Geely group aims to achieve sales target of 3 million units by 2020 with the synergies created by Proton and Lotus, which will position Geely as a major player in the Asean market.

Last year, Geely sold over 1.3 million cars, having recorded US$2.63 billion in revenue.

Li is hoping that the Boyue model could be launched "as soon as possible" in Malaysia, but the group still needs to discuss further on this.