Chinese carmaker Geely poised for Lotus takeover - reports



Geely would use Lotus technical prowess in composites to develop new, lighter cars

2017-05-24 09:00
Chinese car giant Geely is set to take a majority stake in Lotus, according to a new deal reported by the Financial Times.
According to the terms of the purported deal, Geely will invest heavily in Lotus parent company Proton, acquiring a 49 per cent stake in the Malaysian manufacturer. Alongside that 49 per cent stake, Geely will assume control of Lotus, taking a 50 to 75 per cent slice of the Norfolk based car would add another European brand to the Chinese multinationals portfolio it already ownsVolvoand theLondon Taxi Company- alongside its new global brandLynk Co.
Lynk Co reveals production ready SUV at Shanghai Motor Show
According to the FT, Geelys desire to acquire Lotus stems from the marques expertise in composite materials and lightweight construction methods. Geely sees this technology as transferable across the vehicles it sells in China.Lighter cars will help the brand meet stringent future emissions targets in its home Chinese market.
As for the Lotus brand, The FT says Geely will endeavour to breathe a fresh lease of life into the brand with new investment. It will seek to turn the firms fortunes around last year, sales fell by 242 units to 1,584 vehicles.Between Geely and Proton, the Chinese carmaker will use Protons engineering capacity to sell more right-hand drive cars in Asia.
A deal could be announced at some point today - Protons current parent company DRB-Hicom has reportedly issued a notice to the Malaysian stock exchange explaining its shares would be suspended for an announcement.
Would new Chinese ownership be a good thing for Lotus? Let us know your thoughts in the comments.

James Brodie

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Chinese carmaker Geely poised for Lotus takeover - reports
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Chinese carmaker Geely poised for Lotus takeover - reports
3 years ago

http://www.autoexpress.co.uk/lotus/99554/chinese-carmaker-geely-poised-for-lotus-takeover-reports

Geely would use Lotus technical prowess in composites to develop new, lighter cars

2017-05-24 09:00
Chinese car giant Geely is set to take a majority stake in Lotus, according to a new deal reported by the Financial Times.
According to the terms of the purported deal, Geely will invest heavily in Lotus parent company Proton, acquiring a 49 per cent stake in the Malaysian manufacturer. Alongside that 49 per cent stake, Geely will assume control of Lotus, taking a 50 to 75 per cent slice of the Norfolk based car manufacturer.It would add another European brand to the Chinese multinationals portfolio it already ownsVolvoand theLondon Taxi Company- alongside its new global brandLynk Co.
Lynk Co reveals production ready SUV at Shanghai Motor Show
According to the FT, Geelys desire to acquire Lotus stems from the marques expertise in composite materials and lightweight construction methods. Geely sees this technology as transferable across the vehicles it sells in China.Lighter cars will help the brand meet stringent future emissions targets in its home Chinese market.
As for the Lotus brand, The FT says Geely will endeavour to breathe a fresh lease of life into the brand with new investment. It will seek to turn the firms fortunes around last year, sales fell by 242 units to 1,584 vehicles.Between Geely and Proton, the Chinese carmaker will use Protons engineering capacity to sell more right-hand drive cars in Asia.
A deal could be announced at some point today - Protons current parent company DRB-Hicom has reportedly issued a notice to the Malaysian stock exchange explaining its shares would be suspended for an announcement.
Would new Chinese ownership be a good thing for Lotus? Let us know your thoughts in the comments.

James Brodie

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