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
Yes yes. More funding + Volvo engines = great reliable track car
Probably the words that no-one in the history said
I hope they ain’t taking the Volvo’s weight with it, that wouldn’t make the best sportscar…
Plot twist. Volvo design with lotus reliability…
Nuuuuuuu Toyota engines 4 lyfe :P
So, because it’s china, they will be making flowers instead of cars because Chinese lotus is a flower?
They’re leaving their tanks for flowers? Alright, I guess…
Woohooo!
Damn, now Proton won’t have Lotus to help them out anymore.
But lotus belongs to BJP…. (prepared for the downvotes already)
Several weeks later : Lotus Just Released A New Limited Edition Exige : The Exiqe Tank 420 SuperLimitedOnlyInChina
As a Malaysian,I hope Proton is getting better after this…maybe we’ll get volvo’s engines?XD
If they do an Elise 5cylinder , I’m set
Geely is very widespread in my country (they even field some entries on our national touring car championships). They are pretty okay cars and certainly got a bit better after the Volvo purchase but… you can’t help imagining something will go wrong because it’s still chinese and so suspiciously cheap. And many times it does happen. Maybe we’ll get a sports Geely? Won’t be following that.
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