Chinese automaker Zhejiang Geely Holding Group Co is mooting to quit a bid to become Proton Holding's partner, accusing the national car maker of flip-flopping.

According to Bloomberg, Geely's billionaire founder and chairperson Li Shufu criticised DRB-Hicom, the owner of Proton, for repeatedly changing its plans.

"They keep changing, today it's this, tomorrow it's that.

"They haven't decided what they want," Li was quoted a saying in an interview in Beijing last year.

Geely was speculated as being one of two bidders seeking to acquire a majority stake in DRB-Hicom.

However, Geely, unlike France's PSA Group, did not publicly confirm its bid.

PSA Group in a statement on Feb 23 confirmed its bid to become Proton's partner.

"PSA Group made an offer and is willing to go further," said a spokesperson.

Proton, which has been struggling, is seeking a partner to help it penetrate the international market as the domestic market cannot sustain the automaker.

In the 1980s, Proton controlled the lion's share of all new car owners, comprising 73 percent of cars sold in the country in 1988.

Over the years, there were various complaints about quality and its market share had plunged dramatically.

Last year, Proton's market share of new vehicles was only 14 percent, trailing local competitor Perodua which controlled 40.3 percent and Japanese car maker Honda at 17.8 percent.