
He also defended the company’s plans to tie up with a foreign car manufacturer.
“Proton is a failure that we inherited from Mahathir,” the tourism and culture minister said at a function here this evening.
The minister had in recent times often crossed swords with Mahathir.
Nazri was asked to comment on the former Proton Holdings chairman’s criticism of plans for the company to tie up with Chinese car manufacturer Geely Automobile Holdings Ltd.
Not mincing his words, Nazri explained that Proton was a failure because the company consistently asked Putrajaya for “billions of ringgit” in support.
“How can it be successful if every year, you keep coming back to the government asking for money?
“We have to find ways to save this (money) and this is why I think the Chinese company taking up some of the equity is a good deal.”
The former premier had praised Proton in a blogpost yesterday, stating that the quality of its cars had improved a lot under the new management.
However, he also ended the blogpost in a sarcastic tone, saying “frankly Malaysia would be a better country if we stayed as the colony of Europeans or other developed countries. They obviously know better than us about governance and the development of countries. And they will produce better cars, making us proud of our technology.”
Last week, Mahathir had expressed unhappiness that Proton was to be sold to foreign companies, saying it would cease to be a national car.
The PPBM chairman, who is dubbed the “father of Proton”, had said he was open to the idea of Proton selling part of its stake but would object if the entire company was sold off to a foreign company
Last month, Proton CEO Ahmad Fuaad Mohd Kenali said he would announce a tie-up with a foreign strategic partner (FSP) in April.
It was later reported that Chinese car manufacturer Geely Automobile Holdings Ltd was the frontrunner for the partnership, which will see the chosen FSP securing a 51% stake.
Geely, which only produced its first car in 1998, has undergone massive changes over the years and even purchased Volvo Cars from Ford in 2010, as well as the London Taxi Company.
The company, which owns Sweden’s Volvo Car Group, said it could offer Proton some of its latest vehicle technologies developed with Volvo’s input.
A recent Forbes report had praised Geely for its ability to manufacture cars at a low cost and it had turned Volvo into a success story.
Under Geely’s ownership, Volvo achieved a third straight year of record sales in 2016, with deliveries topping 534,000 cars and SUVs.