Proton aims to sell 310,000 units by 2030 and 500,000 units by 2035, which would place the automaker at the top of the sales rankings in Malaysia and among the top three in the ASEAN region, according to a report by Hong Leong Investment Bank (HLIB) Research.

In its analysis, HLIB Research predicted that Proton would introduce one new model year for the following six years, spending a total of RM6 billion on product development, production efficiency improvements, and capacity growth.

With the introduction of smart EVs in Malaysia and throughout the ASEAN area starting in the fourth quarter of this year, Proton's deployment of electric vehicles (EVs) is progressing according to plan, according to HLIB Research. The automaker is also expected to introduce its own EV as early as 2025, as mentioned in a previous report.

"Proton and Gentari are working together to develop EVs, improve transportation, and create a new energy environment. To create its own EV range, it will draw on Geely's expertise and technology, according to HLIB Research.

Proton has sold 116,832 units so far this year as of the end of September, and according to HLIB Research, the automaker will grow its sales for the fifth year in a row. According to HLIB Research, Proton's sales goal for this year is 150 000 units, which would be a 6.1% increase over last year. Demand for both current and new models will help with this; the S70 C-segment sedan is scheduled to debut before the year is out.