Chinese car manufacturer, Geely, is all set to buy a 49.9% stake in Malaysian car manufacturer, Proton, which owns Lotus Cars. Under this deal, Geely would own 51% stake in Lotus as well.
The takeover of Proton and in particular Lotus Cars is being welcomed by automobiles enthusiasts, hoping for a revival of the company, which has been in decline since 1982, after the death of its founder, Colin Chapman.
Since then, Lotus has changed ownership several times, until it was finally bought by Proton in 1996.
Geely’s hands off approach with Volvo Cars (Geely owns a majority stake in it), is being seen as a sign of revival for Proton as well as Lotus Cars.
By buying Proton, Geely gets a foothold in the right-hand-drive markets around the world, though there is no news yet of Proton’s entry into India.
Hopefully, Geely would give enough resources to Lotus CEO, Jean-Marc Gales, to finally revive the company and continue the maxim of Colin Chapman, “simplify, then add lightness” to the car and come out with truly innovative products.