The carmaker is expected to achieve its fifth consecutive yearly sales growth in 2023.
PETALING JAYA: Hong Leong Investment Bank has remained positive on DRB-Hicom Bhd due to the continued growth momentum of its renowned entity Proton Holdings Bhd.
“For 2023, it previously guided a sales target of 150,000 units, indicating a growth of 6.1% increase y-o-y, supported by strong demand for existing models as well as the newly launched X90, and its upcoming S70 C-segment sedan model by year-end,” he said. HLIB Research expects the local carmaker to launch one new model per annum for the next six years, with a total investment of RM6 billion including allocation for product development, product efficiency and capacity expansion.On a separate note, Wong said Proton’s electric vehicle implementation is on track with the first stage being the launch of its “smart” EV distribution in Malaysia and Asean by year-end.
“Furthermore, Proton is leveraging Geely’s knowledge and technology to develop its own EV range. Management has guided the new Proton EV model to be launched as early as 2025,” he added.
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