Proton considered selling stake to foreign car company.
Malaysia's national car maker Proton, said that it is considering selling a stake to a foreign company to form a strategic partnership, AP reported.Proton's managing director said that the company is involved in talks with a foreign company for a strategic core alliance, and there is a possibility that it may involve an equity participation.The company's official refused to name the company or give details of the partnership, including whether it will involve a technology transfer, and said that the two sides hope to agree on the deal by the end of this month.Proton plans to upgrade its Shah Alam factory, streamline production to boost efficiency, and consolidating the company's supplier base to enhance quality, Syed Zainal added. More than 3,000 vendors now supply some 5,000 auto components to Proton.Proton was ditched as a possible equity partner in January by Germany's Volkswagen AG after the Malaysians refused to relinquish management control, a precondition of the European auto giant.  ¶ 5:30 PM