Not long after reports surfaced that Chinese automaker Geely may be buying out Lotus, company chairman Li Shufu has clarified that Lotus’ parent company Proton was seeking a partnership with other companies, “but our conversations were just on the technological cooperation – we never talked about the purchase of equity.”

Besides auto manufacturing, the group’s engineering and consulting arm, Lotus Engineering has provided consulting services to other automakers in the past. While Li denied that his company had put forth any proposal to purchase Lotus, he suggested that Geely is interested in working with the British sportscar manufacturer in some capacity. “Of course we are facing different options,” Li said, without elaborating further.

Geely’s parent company, Geely Holding Group currently also owns Volvo and the London Taxi Company. Li said that there are currently no plans to add more brands to that list. Focusing on the Volvo-Geely partnership is a priority to increase their global presence and to improve efficiency, he said.