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Chinese electric carmaker Geely Auto has signed an agreement with its parent company and conglomerate Zhejiang Geely Holding Group for the latter to be able to share intellectual property rights (IPR) for auto technologies with Malaysian carmaker Proton, the company said on Monday (September 24).

The agreement is worth 1.34 billion yuan ($196.04 million), and it covers rights for technologies in car design, research and development, manufacturing, sales and promotion, according to a company filing. Geely holds a 49.9 percent stake in Proton.

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