Proton Holdings Bhd and Smart Automobile Co Ltd (Smart) Signed a MoA To Distribute Smart Automobile EVs In Malaysia, Thailand

Proton Holdings Bhd and Smart Automobile Co Ltd (Smart) have signed a memorandum of arrangement (MoA) to launch smart's range of New Energy Vehicles (NEVs) into the fast-growing ASEAN automotive market.

According to Proton, the agreement would involve both parties working hand in hand via Proton Edar. For the record, Proton Edar will be appointed as the importer, distributor, and dealer for Smart in Malaysia and Thailand, and Smart Automobile (Nanning) Sales Co Ltd, a fully-owned subsidiary of the premium electric vehicle (EV) brand.

The MoA is a stepping stone for the National carmaker to continue working on its NEV strategic journey. Proton Chairman Syed Faisal Albar said that through the agreement, Proton would gain experience in selling, servicing, and charging of NEVs and build up the skill sets required to be a force in ASEAN’s rapidly expanding NEV sector.

"This is also an opportunity to tap into Smart’s customer base, which will open up more opportunities for the Proton brand,” he added.

With the NEV is expected to grow around 10 million units in Southeast Asia by 2025, Proton is confident about its ability to establish a multi-level sales and service network in Malaysia and Thailand, as well as a brand experience centre and several sales locations, providing local markets with sales and after-sales services for smart’s NEVs.

According to the company, there are currently no plans to collaborate beyond the terms of the agreement.

In 2019, Mercedes-Benz and China's Geely Group, which owns a controlling share in Proton, formed Smart Automobile as a joint venture.