KUALA LUMPUR, May 25 (Reuters) - Malaysian national car maker Proton is planning to use Mexico as a platform to tap the lucrative North American automobile market, the New Straits Times reported on Sunday.
Mexican ambassador to Malaysia Alfredo Perez-Bravo was quoted by the newspaper as saying that Proton chief executive officer Tengku Mahaleel Tengku Ariff was co-ordinating a visit by several car manufacturers here to Mexico soon.
"I know for sure that they are looking at the rich North American market. It would be good if Proton can start a plant in Mexico at a later stage," Perez-Bravo said.
Proton officials could not be reached on Sunday for comment.
Perez-Bravo said Proton could use the North American Free Trade Agreement to ride on the back of Mexican companies which had access to the U.S. and Canadian markets.
Mexican car makers exported some 1.5 million units in 2001, including Ford, Nissan, Chrysler and Volkswagen models.
Proton, which controls over 60 percent of Malaysia's car market, has said that it aims to tap new markets such as China and the Middle East to help boost its international profile.
Overseas markets currently contribute less than five percent to Proton's annual sales of about 200,000 units.
Proton, protected from foreign brands in Malaysia by import tariffs and discriminatory excise duties, posted a net profit of 831.84 million ringgit ($218.9 million) in the nine months to end-December 2002, up 9.3 percent from the same period a year earlier.
Proton shares closed up 1.5 percent at 6.85 ringgit on Friday.