In 2017, following Geely's acquisition of the struggling Malaysian national car brand Proton, PROTON achieved a remarkable turnaround within 27 months. By appointing the experienced CEO Chunrong Li and implementing a decade-long integration plan centred on the ‘Big Dipper' strategy, the company reversed its annual loss of RM867.1 million into a profit of RM221 million. Sales surged by 41.5%, securing Proton's position as Malaysia's second-largest automaker for six consecutive years. This case demonstrates an effective pathway for revitalising traditional automakers through strategic synergy, management restructuring, and cultural integration in cross-border M&A. However, facing intense competition from 15 Chinese automotive brands launching 34 new models in Malaysia from 2024 onwards, Proton now confronts a critical strategic choice in pursuing its goal of becoming ‘Malaysia's number one and among the top three in ASEAN': whether to focus on the domestic market to strengthen competitiveness for the top spot, or accelerate expansion across ASEAN to build regional scale advantages. This decision not only determines Proton's future trajectory but also offers valuable insights for emerging market automakers seeking transformation and upgrading through international collaboration.