Malaysian national car company Proton will spend a record RM1.6 billion ($525.8 million) on technology and product development in its financial year ending March 31, 2012. “For the first time in Proton's history, we are investing for the future,” Proton Managing Director Zainal Tahir says. “This is good.” Higher research and development expenditures incurred during the latest quarter effectively have been offset by R&D grants provided under the government’s hybrid and ...

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