Malaysian carmaker Proton has agreed to tie up with a Chinese manufacturer to turn around its business.

Proton’s parent company announced that it reached an agreement with China’s Geely to sell a 49.9 percent stake.

Proton executives say Geely will provide parts and technological assistance and help them to expand sales in Southeast Asia.

Proton was founded in the 1980s as part of former prime minister Mahathir Mohamad’s push to industrialize