KUALA LUMPUR (Nov 28): Proton Holdings Bhd is looking to expand into more export markets in Asean and beyond to grow its export volume, for which it has forecast will hit a lofty 250,000 units per annum by 2035.

According to Proton deputy chief executive officer Roslan Abdullah, the national car maker currently exports its vehicles to more than 15 countries, including Pakistan, Brunei, Kenya, Nepal, Bangladesh and Egypt, but it is now looking to Indonesia and Thailand as its next additions.

“For Asean, we can consider Indonesia as well as Thailand but we also look to expand into the current existing export markets we have — more than 15 countries,” he said during a press conference at the official launch of the Proton S70 on Tuesday (Nov 28).

He noted that while the company’s export volume for this year remains small at 2,500 units, he attributed the company missing its 10,000-unit target to the turbulence in Pakistan — its largest export market.

Going into the year ahead, Roslan reiterated the 10,000-unit export target for 2024.

Meanwhile, Proton CEO Dr Li Chunrong said that its shareholders — DRB-Hicom Bhd and Zhejiang Geely Holding Group Co Ltd — have shared their desire for the company to increase its production volume to 500,000 units by 2035, of which 50% or 250,000 units will be for the export market.

“They have a dream, and as [Proton’s] management we must support it,” Li said. DRB-Hicom owns a 50.1% stake in Proton, while the remaining 49.9% is owned by Geely.

Roslan clarified that the 500,000 unit figure is currently just a “ballpark figure” that Proton has forecasted, noting that the company still has to conduct further detailed analysis.

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz, who officiated the Proton S70 launch, said that from what he has seen of Proton’s current and future model plans, he is confident of Proton penetrating into new international markets.

“I’ve also taken note that Proton is becoming one of Malaysia’s main exporters of vehicles. Although the number remains relatively small, Miti (Ministry of Investment, Trade and Industry) would like to challenge Proton: can we see a rapid expansion on the back of the introduction of new models, for example, the S70?” he added.

Domestically, Tengku Zafrul noted that based on the total industry volume of 646,840 units as at end-October 2023, Malaysia is on track to break the total industry volume record set last year of 720,658 units.

Touching on the launch of the Proton S70, the carmaker’s new sedan is available in four variants, namely Executive at RM73,800, Premium at RM79,800, Flagship at RM89,800, and Flagship X at RM94,800.  

Proton director of sales Edmund Lim said the company projects to sell 2,000 to 3,000 units of the Proton S70 per month for the first year.