As per reports from the media, Chinese automaker Geely – already proud owner of Volvo Cars and the newly minted Lynk 7 Co. – has taken the long road to acquire British exotic sports car manufacturer Lotus.
And when we say the long road, we really mean just that. China’s Zhejiang Geely Holding has opted to purchase a 49.9 percent stake in Malaysian automaker Proton, a deal made with the latter’s parent company DRB-Hicom, a Malaysian-based conglomerate. Thanks to the agreement, Geely will actually gain full control and ownership over a Proton subsidiary – namely Lotus Cars, because it also purchased DRB-Hicom’s entire 51-percent stake in Lotus. T. Since 2010 when the Chinese manufacturer acquired Volvo it had plenty of time to hone its management skills – and the result is visible, the Swedish automaker being highly appreciated and with a very young and successful lineup.
Geely wants to help Lotus by “expanding and accelerating the rolling out of new products and technologies.” The Norfolk-based niche marque has been fighting for its survival by enhancing and updating on the technical level its rather aged models – but hasn’t had the financial power to bring new architectures. It should now have access to a budget allowing it to develop and engineer new generations, and we can also imagine a collaborative effort between Volvo, Polestar and Lotus, bringing lighter and more potent Swedish premium models.