Case Study

Why a National Car with Billions of Investment Still Struggled to Stand Alone

A strategic analysis of Proton's journey through licensing, acquisition, and partnership

By Christine Pamela Strategy Analysis November 2025

Executive Summary

National Strategy

Proton began as a national industrialization strategy to build local automotive capabilities.

Tech Dependency

Early success depended on Mitsubishi tech licensing — limited local R&D maturity.

Market Protection

Protectionism led to overreliance on domestic demand and weak export competitiveness.

Failed Innovation

Two innovation reinventions failed to drive systemic capability — Lotus and localization.

Geely Partnership

Geely partnership finally enabled modern product competitiveness and scale.

Identity Crisis

Proton's identity still depends on borrowed innovation rather than indigenous IP.

Three Eras of Strategic Transformation

1983
Foundation
Mitsubishi Licensing Era Begins
Saga Launch
1993
Peak Dominance
60% Market Share
Wira Launch
1996
Lotus Acquisition
Innovation Push #2
2000
Self-Development
First Indigenous Platform
Waja Launch
2016
Market Collapse
16% Market Share
2017
Geely Partnership
Strategic Reset
2018
Revival
Modern Product Era
X70 Launch

Performance Metrics

Malaysia Market Share (1990–2024)
Production Volume Rebound Post-Geely

Why Innovation Push #1 Failed

The Mitsubishi Licensing Phase

Proton assembled, but did not design. This created a fundamental gap in design autonomy and engineering capability. Local engineers were not fully integrated into high-value development work, and licensing agreements did not include access to Mitsubishi's future platforms.

The result was a false sense of capability — Proton assumed national champion status too early, without building the foundational technical expertise needed for long-term independence.

Tech Transfer Gap Analysis

Design
Not Owned
Testing
Not Owned
Manufacturing
Owned
Supplier Ecosystem
Not Owned

Why Innovation Push #2 Failed

The Lotus Era

Lotus represented performance and handling excellence — but not mass-market innovation. The capabilities remained isolated in the UK, and Malaysian engineering teams did not absorb the critical knowledge transfer needed.

Internal resistance to modernization became a significant barrier. As the author notes from direct experience: "Management was excited, but engineering teams resisted stepping up. The system discouraged ambition."

Culture Barrier Pyramid

Political Interference

Top-down decisions without market alignment, frequent leadership changes disrupting strategy execution

Risk-Avoiding Engineering

Teams resistant to new technologies, preference for proven methods over innovation

Misaligned Incentives

Limited meritocracy, procurement politics, system that discouraged ambition and excellence

Why Innovation Push #3 Works

The Geely Partnership

Five structural changes made the difference:

Technology

CMA/BMA global EV-ready platforms providing modern architecture

Scale

Access to China suppliers and cost curve advantages

Brand

Supportive but competitive internal benchmarking

Exports

China, ASEAN, and Middle East pathways unlocked

Talent

Fresh engineering leadership and mobility programs

Before vs After Comparison

Metric Before Geely (2016) After Geely (2023)
Platform Cost High - proprietary development Reduced 30-40% via shared platforms
Quality Defects Above industry average Improved to near-premium standards
Safety (ASEAN NCAP) 3-4 stars 5 stars (X70, X50, X90)
Launch Speed 4-5 years per model 18-24 months
Market Share 16% (collapsing) 20-24% (recovering)

Political Economy Effects

Protectionism was initially successful in building local capabilities, but eventually trapped Proton in a cycle of complacency. Frequent leadership and strategy changes led to execution inconsistency, while the captive supplier ecosystem remained fragmented and uncompetitive.

The Doom Loop

Protection

High tariffs shield market

Complacency

No pressure to innovate

Quality Issues

Product deterioration

Brand Erosion

Consumer trust collapse

Import Liberalization

Policy shift

Market Collapse

16% share by 2016

Theta Framework: Innovation Mapping

Analyzing Proton's innovation capabilities across four strategic zones reveals where the company creates value and where it remains dependent on external partners.

Zone Current Proton Example Capability Ownership Value Capture
Core SUV lineup upgrades, ADAS, cost optimization Medium High (local sales)
Adjacent Connected features, mild hybrid tech Low–Medium Medium
Edge Smart distribution & financing w/ Geely network Low Shared
Beyond EV future (rebadged Smart #1 development support) Very Low Very Low

Strategic Risk Outlook

Geely Dependency
Edge

Brand and tech autonomy risk — over-reliance on partner platforms limits long-term independence

Mitigation: Gradual IP co-ownership agreements

EV Acceleration Gap
Beyond

Market shifting faster than Proton can adapt — limited EV development capability

Mitigation: Local battery/tooling ecosystem development

Brand Perception
Core

Still viewed as "budget" option despite quality improvements

Mitigation: Build trust via exports and premium positioning

Supplier Capability
Core

Cost and quality mismatches in local supplier base

Mitigation: Tier-1 consolidation and partnerships

Workforce Upskilling
Edge

Fear of new tech integration among existing workforce

Mitigation: Joint R&D mobility pipelines with Geely

Proton vs Tesla: Innovation DNA

Comparing Proton with Tesla reveals fundamental differences in innovation philosophy, ownership structure, and strategic approach.

Innovation DNA Comparison
Dimension Proton Tesla
IP Ownership Mostly Geely-provided Full-stack indigenous
Business Model Local champion strategy Global product-first
Innovation Zone Core with borrowed Edge Beyond leading Edge
Talent Density Fragmented & political High-agency innovation culture
Capital Strategy Government-led survival cycles Market-led scale cycles

What Proton Must Do Next

1
Own Core Technology

Develop at least one indigenous technology platform — not just rebadging. This could be in EV battery management, autonomous driving software, or unique Malaysian design language.

2
Export-First Products

Design and launch products specifically for export markets to prove brand capability beyond protected domestic territory. Success in competitive markets validates quality.

3
Malaysian EV Identity

Push a distinct Malaysian EV identity through design, user interface, ergonomics, and safety features that reflect local innovation — not borrowed engineering.

"Proton cannot keep renting its future."
— Strategic Imperative for Indigenous Innovation