CHENGDU, Feb. 27 (NBD) -- Zhejiang Geely Holding Group and Malaysian carmaker Proton Holdings Bhd will reach a deal by June, with an agreement expected to be signed in April at the soonest, according to reports. 

Li Donghui, vice president and CFO of the Zhejiang-based company, led the negotiations, said a source with knowledge of the matter.

Geely is seeking 51 percent stake in the joint venture with Proton. 

The company plans to offer capital and technologies to the new entity in the initial stage, and will manage to raise money via its listed company when the joint venture gets on track. 

Through the deal with Proton, Geely will be even able to access to the UK in addition to markets in the Association of Southeast Asian Nations (ASEAN), as Proton is the owner of Lotus Cars, which was founded in 1951.  

Email: lansuying@nbd.com.cn