‘Lotus sports cars may be produced in China’
KUALA LUMPUR: Chinese billionaire Li Shufu said his Zhejiang Geely Holding Group will consider producing Lotus sports cars in China after agreeing to purchase stakes in Proton Holdings Bhd and its British unit.
Geely signed a final deal to acquire 49.9 per cent of Proton and 51 per cent of Lotus Cars from DRB-HICOM Bhd, and expects to complete the transaction in three months, the Chinese carmaker said in a statement, here, yesterday.
It will then form a core management team recruited from a pool of global candidates to ensure the smooth operation of Proton, said the company.
Li said the priority will be to make Proton and Lotus profitable and to sustain growth while embracing new technological trends of electrification, lightweighting and artificial intelligence.
Geely, which bought Sweden’s Volvo Cars in 2010, said the acquisition will help the carmaker to be a major player in Southeast Asia and achieve a sales target of three million units by 2020.
“The deep regional knowledge we gain from Proton and Lotus through this transformative partnership, coupled with our technological expertise and leadership in innovation, opens the door for Zhejiang Geely to become a major player in the Asean market,” said Li.
“We will work together to make the most of our respective strengths.”
Lotus cars were featured in the James Bond movies “The Spy Who Loved Me” in 1977 and “For Your Eyes Only” in 1981. Bloomberg