Volvo's Chinese Owners Are Now Buying Lotus
It’s being reported that Geely, the Chinese company that owns Volvo, is set to buy 49% of Proton and in the process take complete control of Norfolk lightness merchants Lotus.
Lotus recorded a profit last year for the first time in its illustrious but badly-managed history, attracting Chinese eyes that no doubt wish to benefit from the English firm’s considerable engineering expertise.
An Autocar report says that Geely’s cash is actually being pumped into Proton’s parent company, DRB-Hicom, but the net result is a 49% stake in the Malaysian manufacturer and total ownership of Lotus. Apparently, French conglomerate PSA, which recently bought Opel and Vauxhall, was also considering buying Proton.
Lotus is purely a passenger in the deal, but it is said that Geely and Proton, which has owned Lotus since 1996, have both agreed to the deal. Hopefully, with Lotus having turned a corner from a business point of view, it will be allowed to carry on with no major changes.
Comments
Proton cars have a really good handling thanks to Lotus Suspension engineering since they(the Proton) bought Lotus Automobiles back in 1996. But current years Proton is struggling to sell it’s cars in its homeland Malaysia, adds on Proton exports aren’t doing great, even Lotus are losing profit which makes things worst. Proton are in the edge of falling apart but then they decided to get business partner, so then came PSA of French, Suzuki of Japan and Geely of China bids for Proton stake. I hope with the new ownership, Geely could turn things over for Proton. Proton is a good economy car brand, but imagine having the reliability of a Land Rover, you’d be surprised of how much things broken apart after several years. My family had 2 Proton of the past, the 1995 Saga and the 2004 Gen•2. Currently own the 2014 Iriz and although it looks good and drives great, only one word sums it up, reliability. Engine wise there is no problem, only had some electrical and electronics defects.
Instant day dream to a car with a P1800 body, XC90 interior, Lotus-tuned suspension…sign me up.
So now we have more Plastic for weight reduction 😓😓😓😂😂
Doesn’t China own quite enough of Britain already???
Volvo, handling by Lotus
So, the new Lotuses will be as heavy as Volvo boats?
So maybe finally we’ll see the new Esprit and Elan???
YES. TATA bought JLR and look at their lineup now! I say bring it on.
Topics
Manufacturers
Sponsored Posts