Malaysian carmaker Proton launches new car with Geely partnership

Proton chairman Syed Faisal Albar speaks during the preview ceremony of the X50 Sports Utility Vehicle (SUV) at its plant in Tanjung Malim, Malaysia, Sept. 15, 2020. Malaysian national carmaker Proton rolled out the X50 Sports Utility Vehicle (SUV) on Tuesday from the partnership with China's Geely. (Proton/Handout via Xinhua)

KUALA LUMPUR, Sept. 15 (Xinhua) -- Malaysian national carmaker Proton rolled out the X50 Sports Utility Vehicle (SUV) on Tuesday from the partnership with China's Geely.

The vehicle will be put together at Proton's new assembly plant and is the second all-new product to result from the partnership between the two manufacturers, the company said in a statement.

Built on the platform that also underpins products from Geely and Volvo, the model will feature turbocharged engines, a seven-speed dual-clutch transmission (DCT) gearbox as well as the next generation of advanced driver assist systems.

The addition of the new model is expected to benefit the automotive vendor community, with the purchase intent expected to amount to at least 1.8 billion ringgit (440 million U.S. dollars) annually, with another 1 billion ringgit (240 million U.S. dollars) in parts purchases for the Proton X70, it added.

Geely acquired 49.9 percent of Proton from Malaysia's leading conglomerate DRB-HICOM that owned 100 percent of Proton in 2017. The X70 was the first product of the partnership and has been a hit in the Malaysian market.

Proton chairman Syed Faisal Albar, who spoke during a preview ceremony of the vehicle at the plant, said the company as a local manufacturer would contribute to more jobs and wealth creation for the national automotive industry.

"This is vital at a time when COVID-19 has significantly hit Malaysia's economy," he said.

The addition of the new vehicle is expected to keep the Proton-Geely partnership on a trajectory of growth as the industry comes to grips with the COVID-19 outbreak, being the only company in the industry ahead of its sales volume from the previous year.