Mitsubishi and Proton Join Forces to Develop New Car

Malaysian national automaker Proton has formed an alliance with Japan's Mitsubishi for the development and production of a new car. Although details were not disclosed, it is reported that the two companies are working on a small hatchback that will enter the market after 2010. Furthermore, under the new agreement that was signed between the two companies, the Japanese carmaker will grant a non-exclusive license to the Proton to manufacture a new Mitsubishi vehicle based product. In a joint statement, the two companies said that they are also continuing "to study other mutually beneficial avenues of collaboration".