Proton Holdings Bhd shares rose after plunging 12.5 per cent over the last two days after it signed a memorandum of understanding with Nissan Motor Co Ltd to study potential cooperation areas.
At 10.14am, Proton shares were up 0.56 per cent or two sen to RM3.60.
The cooperation includes potential use of Nissan's platform and power-train.
Hwang DBS Vickers Research Sdn Bhd said the move formed part of Proton's initiatives to expand its current market segment, targeting mainly segment B and C, ranging from 1.2 liter Proton Savvy to 2.0 liter Proton Perdana and Proton Inspira.
"We believe a collaboration with Nissan could mean another "Inspira" like a re-badge model to be introduced to consumers in the medium term," it said in a research note Wednesday.
Hwang DBS said this was a sensible move for Proton to expand its market segment and launch new models with lower capital expenditure, and possibly shorter development time, given that most of its focus and funding were in the five-year restructuring plan of Lotus Group.
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