PROTON ESTABLISHES SUBSIDIARY FOR NEW ENERGY VEHICLES

• Proton New Energy Technology incorporated as subsidiary of PROTON

• Company to spearhead smart distributorship and own brand NEV business

Subang Jaya, 9th September 2022 – Following the signing of its GDA with smart on 18 August, national car maker PROTON has established a new company to spearhead sales and distributorship for smart vehicles and its own future new energy vehicle offerings. Proton New Energy Technology Sdn. Bhd. (PRO-NET) is a fully owned subsidiary of PROTON and will be run by a separate management team. Operations staff will consist of external hires from various industries.

Leading the subsidiary as Chief Executive Officer will be Zhang Qiang, who has a long history in the automotive industry in China and has been at PROTON for the last five years focusing on sales and network development. Other key members include Salawati binti Mohd Yusoff, a 25-year auto industry veteran as Chief Brand Officer, and Sua Chek Hoong, a newcomer to PROTON with 20 years of experience in the communications and IT industry, as Chief Information Officer.

The management team will report to a board of directors headed by Dr Li Chunrong, Chief Executive Officer, PROTON, and supported by Roslan Abdullah, Deputy Chief Executive Officer, PROTON, Wang Huaibing, Chief Financial Officer, PROTON and Amran Mohd Tomin, Vice President Human Capital & Admin, PROTON.

Multi-tier charging solutions under consideration

Sales of smart electric vehicles are scheduled to start in early Q4 2023. The first model offered to Malaysians will be the smart #1 and PRO-NET is now laying the foundations for its introduction. A top priority for the company will be the deployment of charging solutions for customers and current plans call for the deployment of a home based and public charging network

“Our studies show consumer hesitancy to adopt new energy vehicles is tied to their concern about charging availability. PRO-NET intends to address the issue with a two-pronged approach combining the installation and maintenance of home-based chargers with a comprehensive public network to be built with partners specializing in the development and running of charging stations. As a PROTON subsidiary, PRO-NET has a responsibility to ensure our products and services are accessible to all Malaysians regardless of where they reside so in addition to fixed chargers, we are also considering mobile solutions to expand our reach,” said Dr Li Chunrong, Chief Executive Officer, PROTON.

“The new energy vehicle industry is growing exponentially, and PRO-NET wants to be a major part of it both in Malaysia and abroad. As these new offerings will not be weighed down by previous model lines or even traditional service operations, it is an opportunity for PROTON to reframe its customer experience and reposition itself as a mobility provider that can attract new and traditional buyers. We are at the beginning of our new energy journey but with today’s official announcement regarding PRO-NET, our plans will gain momentum leading to more developments in the months and years ahead,” added Dr Li Chunrong.