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Outgoing PSA Peugeot Citroën CEO Jean-Martin Folz has signed a letter of intent with Proton's managing director Syed Zainal Abidin Bin Syed Mohamed Tahir to look at cooperation between the two groups.

The study is to last several months and will cover product development, manufacturing, quality initiatives, sales, contract assembly and distribution.

The letter of intent covers the ASEAN south-east Asian area "and elsewhere", the text from PSA says.

Proton apparently wants to use the technology expertise of one of the big carmakers to increase its own knowledge opf product development and capacity utilisation. And PSA is interested in developing sales in Proton's home markets in Malaysia and neighbouring states.