Lotus owner rejects £1 offer, plans to make it profitable again image

Good news for Lotus Cars enthusiasts. DRB-Hicom, owner of the famous sportscar brand, has rejected an offer from an undisclosed foreign company that wanted to take over Lotus.

The unknown bidder offered DRB-Hicom £1 for the loss making carmaker. How is that good news then? Well, DRB-Hicom, which owns Lotus via its stake in Proton, wants to revive Lotus. According to a StarBiz report, DRB-Hicom demonstrated its commitment to the brand by rejecting the offer.

“The easy way out was to accept the offer. As a businessman, that was what I could have done to cut the loss, move on,” DRB-Hicom group CEO Datuk Seri Mohd Khamil Jamil was quoted as saying by Paultan.org. “We believe we have a business plan that will work for Lotus. If I sell without trying, at the end of the day, I will fail my shareholders,” added Mohd Khamil, who is also Proton’s executive chairman.

He emphasized Lotus’ intrinsic value as an iconic brand with global presence and positioning and also its engineering expertise and talented workforce. In Mohd Khamil’s views, all these qualities makes it able to cross function with Proton.