Gasgoo.com (Shanghai October 27) - Hawtai Automobile has agreed to cooperate with Malaysian manufacturer Proton to jointly research and develop new models, the Beijing Times reported today. The two parties signed an agreement at the floor of last Friday's China-ASEAN Business and Investment Summit.

According to the document, Hawtai and Proton will establish a technology site with each company holding a 50 percent share in the new venture. The new site will be primarily responsible for researching and developing new models and key auto parts for it. In addition to R&D work, it will also support engineering and technology support.

Hawtai will be manufacturing the Proton Exora minivan (pictured) and Persona R in China next year. The two models, which comply with Euro 5 emission standards, are predicted to hit the market in 2013 and may later be exported to Europe and other markets.