Lotus And Proton Become Part Of Geely Group

China’s Zhejiang Geely Holding Group, parent company of Geely and Volvo, is set to acquire a majority stake in Malaysia's Proton which also includes control of British sport car firm Lotus.
 
Geely beat Groupe PSA, Renault, and Suzuki, which as reported by TMR in March this year, were also bidding for the Malaysian firm, if not for the Proton brand, but for Lotus’ industry expertise in composites and lightweight materials.
 
Previous Proton owner, DRB-Hicom is yet to issue an official statement with regard to the sale.

Geely is expected to boost investment in Proton, helping turn around quality issues as well as providing a more stable supply base from which the Malaysian automaker can develop its next generation of models based on Geely’s platforms.

Lotus