Proton Holdings and Zhejiang Geely Holding Group on Sunday signed a Heads of Agreement to set up a joint venture that will pave the way for the Malaysian automaker to assemble and market its cars in China, Bernama news agency reports. Prime Minister Mahathir Mohamad, who was in Beijing in for a state visit, welcomed the agreement and expressed hope that the strategic partnership between Proton and the Chinese car manufacturer would accelerate the process of improving Proton cars. Mahathir is reviewing the national automotive policy, which may include imposing conditions on the import of foreign vehicles. This would allow brands like Proton to capture the local market, said Dr Mahathir as quoted by The Star Online on July 30.