Chinese owners of Volvo, Geely, will buy Lotus

Proton who have owned controlling stake in Lotus since 1996 are all set to make the deal with the Chinese vehicle conglomerate.

By: | Updated: May 25, 2017 11:10 AM

We love Lotus. The minstrels of lightweight track attack machines. Unfortunately, they have a history of mismanagement that saw running losses for the longest period of time. That is until last years turn, where, they managed to pull a profit. How precisely that is we aren’t sure. It was however enough to attract the attention of the Chinese. Who in no uncertain manner wish to generate profit of the firm’s engineering expertise.

First in line is Volvo’s Chinese owners Geely, who are set to purchase 49% of proton, acquiring complete control over Lotus in the process. Now the cash is being wired around the mulberry bush for reasons that we can’t explain (read: don’t understand). Autocar UK say that the money is being pumped into Proton’s parent company DRB-Hicom. Net result however is that the 49% stake in the Malaysian manufacturer and total control of lotus.

Also in the running, is the French conglomerate PSA, which recently bought over Opel and Vaxhaul. However, at this point it looks like Geely will have it.

Although Lotus is purely a passenger in the deal, word has it that Geely and Proton -- who’ve owned Lotus since 1996 -- have both agreed on the terms of the deal. We can only hope that Lotus’ recent turn for profit will continue, if not get better as a result.

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