Geely plans to take over Lotus from Proton – report

Geely has set its sights on British sportscar maker, Lotus for its next company purchase, according to a speculative report by Road & Track. Lotus’ owner, Proton, has been searching for a foreign strategic partner as part of the company’s turnaround plan, which may involve the offloading of Lotus – which Proton has not ruled out.

Other so-far-unnnamed automotive companies are set to be purchased by Geely too, although Lotus appears to be a tantalising candidate as its engineering arm, Lotus Engineering, has carried out consulting and development work for various automakers. Geely has proven that it isn’t averse to heading in new directions, with the the debut of the Lynk & Co 01 SUV, claimed to be “the most connected car to date.”

Volvo appears to be flourishing under Geely, with the second-generation XC90 SUV well-received by customers globally and with a raft of models built upon the new Compact Modular Architecture (CMA) platform still to arrive, such as the upcoming XC40 SUV and S40 compact sedan.

As for parent company Proton, five potential parties have been shortlisted to buy a stake in the national carmaker. DRB-Hicom CEO Datuk Seri Syed Faisal Albar revealed recently that the foreign partner must be a strategic, cooperation and cultural fit with Proton. It wouldn’t be entirely sold, however, as DRB-Hicom has maintained that it will keep “a significant stake” in Proton.

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Mick Chan

Open roads and closed circuits hold great allure for Mick Chan. Driving heaven to him is exercising a playful chassis on twisty paths; prizes ergonomics and involvement over gadgetry. Spent three years at a motoring newspaper and short stint with a magazine prior to joining this website.

 

Comments

  • Ape pon jual kepada China. Baik parliament pon jual la

    Like or Dislike: Thumb up 51 Thumb down 7
    • Butthurt betul….ni business decision…pls don’t involve politics tq
      Geely is doing great in China….volvo is getting better…I would love to see lotus flourish again

      Like or Dislike: Thumb up 10 Thumb down 24
    • AutoFrenz (the original) on Nov 01, 2016 at 12:56 pm

      After selling it to geely they will rename lotus as GELI…wah syokkk…

      Like or Dislike: Thumb up 6 Thumb down 7
    • Kunta Kinte on Nov 01, 2016 at 2:04 pm

      Ha Ha Ha Ha. I am so happy everything also sell to China. Now everybody can start to open their eyes!

      Like or Dislike: Thumb up 12 Thumb down 0
  • old horse on Nov 01, 2016 at 10:50 am

    yup, every malaysia barang selling to CHINA-MAN! LOL!!!
    isnt that ironic?

    Like or Dislike: Thumb up 17 Thumb down 1
  • dodgeviper88 on Nov 01, 2016 at 10:56 am

    Seeing how Volvo has done, as a car enthusiast I wouldn’t mind the company sold-off to Geely. Hopefully Proton can sell off at a good profit and pay off debts given by the government

    Like or Dislike: Thumb up 15 Thumb down 4
    • Mikey on Nov 01, 2016 at 12:45 pm

      dodgeviper88. Apparently they still want to retain “a significant stake” in Proton said CEO DS Syed Faisal.

      Many wonder just how much is the “significant stake” are !

      Like or Dislike: Thumb up 1 Thumb down 1
  • Ppl keep buying but we keep selling? … We can sell for RM1 again

    Like or Dislike: Thumb up 9 Thumb down 1
  • Finally progress… At least proton can take lotus’s costs off it’s books, and focus on its organisation restructuring…lament all you want, but the Malaysia tax payers need to be reprived, and hopefully obtain returns on their bail out investments… Fingers crossed

    Like or Dislike: Thumb up 6 Thumb down 3
  • Ex VGM staff on Nov 01, 2016 at 11:06 am

    Volvo flourishing, yes but remember it is still the Swedish behind the car making. Same goes to Jaguar and Tata motors. Meaning ppl still have ideas but dont have the money. Same applies to proton – no money.

    Like or Dislike: Thumb up 9 Thumb down 2
  • john is otak batu on Nov 01, 2016 at 11:10 am

    Was waiting for news China man taking over Proton 100%…. matter of time

    Like or Dislike: Thumb up 13 Thumb down 3
  • hey Geely, buy Lotus, free Proton, ok? Please take all away

    Like or Dislike: Thumb up 11 Thumb down 6
    • Leonardo on Nov 01, 2016 at 3:21 pm

      Do your homework. Proton owns Lotus, not the other way around.

      Like or Dislike: Thumb up 8 Thumb down 0
  • thepolygonal on Nov 01, 2016 at 11:25 am

    Guys, is there a trend going on where our local so called assets are slowly being sold to China? I mean come on… we will be left with nothing. I always thought the Lotus move is a great move, elevating Proton status with the ‘Lotus Ride and Handling’ logo and catch phrase. Now.. it’s China’s Lotus ride and handling. Disappointed at how things are moving…

    Like or Dislike: Thumb up 11 Thumb down 4
  • NOOOOOOOOOO~ With Lotus finally going to bring in some profit soon, and the upcoming models; please Proton please, hold onto Lotus.

    Like or Dislike: Thumb up 9 Thumb down 9
  • tokmoh. on Nov 01, 2016 at 11:55 am

    Volvo > all

    Like or Dislike: Thumb up 4 Thumb down 3
  • Under the proton, after 33 years without any profit but just recently lotus makes it. I don’t mind if proton sells it but please consider deliberately as it might benefits in the long run for proton. Afterall, lotus has a huge reputation in making a sport car.

    Like or Dislike: Thumb up 6 Thumb down 0
  • Unknown on Nov 01, 2016 at 12:22 pm

    I guess no more “Lotus Ride and Handling”?

    Like or Dislike: Thumb up 3 Thumb down 1
    • Nope but share their technology to the Chinese manufacturer,but if they truly sold lotus to them,proton should be fine since they learn them quite a lot of years just interior looks fall behind compare to the other manufacturers

      Like or Dislike: Thumb up 0 Thumb down 0
  • Lotus Wannabe on Nov 01, 2016 at 12:46 pm

    so stopid punya owner proton!! dunno how to guna lotus to make profit….

    Like or Dislike: Thumb up 6 Thumb down 2
  • Mikey on Nov 01, 2016 at 12:51 pm

    Frankly speaking, I don’t mind driving a car with the safety of the Scandinavian(Volvo) & handles like a Lotus. Just for the record, i wonder how many will agree !?

    Like or Dislike: Thumb up 6 Thumb down 1
  • Susukotak on Nov 01, 2016 at 1:55 pm

    PM visiting China. Geely plans to take over Lotus. What a news.

    Like or Dislike: Thumb up 5 Thumb down 0
  • Bernard on Nov 01, 2016 at 3:45 pm

    Gelly lah dengar cerita ni:)

    Like or Dislike: Thumb up 3 Thumb down 0
  • Proton is going to lose a useful tool in its engineering toolbox and may never get it back ever. Gut feeling and sentiments say – don’t do it Proton. Then again if Sweden can make a deal with Geely… why shouldn’t we? Plus we can always rent the tech instead of unprofitably owning it.

    Like or Dislike: Thumb up 2 Thumb down 0
    • No such thing renting the tech….you either buy the company over or as usual pay for their expertise services

      Like or Dislike: Thumb up 0 Thumb down 0
  • Jual pun salah,
    Tak jual pun salah.

    #BasherLogicTakdeLogic

    Like or Dislike: Thumb up 1 Thumb down 0
  • Since Proton still can’t design a car properly to compete in the global market after so long, better to sell off proton & keep lotus. Then use the money from selling proton to turn lotus into a luxury car maker instead of just making sports cars just like Porsche.Lotus’ engineering team should be able to do it but not the hopeless Proton team.

    Like or Dislike: Thumb up 3 Thumb down 1
  • No money then why bought proton in the 1st place? When submit proposal seems bagus. Now after only 2 years no money no ideas how to proceeds. Unbelievable…

    Like or Dislike: Thumb up 0 Thumb down 0
 

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