Lotus car maker
Another strong point is maken the maker engineering division maker continues to serve the industry independently.
It was announced late on Tuesday that Group Lotus' Lotus voor Motorsport is entering GP2 next year with Nicolas Todt's top line team ART.
What is sure for now is that the product portfolio will be widened and maker a SUV is on the cards.
Geely, which also lush owns the London Taxi Company and Sweden's Volvo Car Group, will take a 51 stake in Lotus.
Jean-Marc Gales, maker who became Lotus chief lotus executive in 2014, has been trying to return the Norwich-based company to consistent profit after two decades in the red.Image copyright AFP Image caption Made in KL - the Proton assembly line in Malaysia.Lotus Motorsport, an arm of the Proton-owned Lotus Cars, maker is entirely separate to Lotus Racing, the new formula one team headed by make Tony Fernandes.The maker downfall of the brand happened after ex- Ferrari executive Dany Bahar took charge in 2009.Lotus used to be ranked alongside Ferrari and Porsche, so we need to come back in that rank again.The bright point of Lotus aging fleet maker of sports cars is that its models have continued with the famous light is right ethos.Proton also gives Geely access to right-hand-drive markets around the world, lotus including Malaysia, the UK, India and Australia.Geely aims to produce three million cars by 2020 across all its operations.We want to bring back the heritage of Lotus to be one of the top performers in the luxury sports car maken segment.
In an interview with media, Geely boss An Cong Hui said: We are making plans.
Bahars plan was to drive the brand up-market into the expanding global luxury goods sector, effectively away from the companys luidsprekerdoek traditional light weight and pure luiertaart driving experience simplicity.
Malaysia's second maken finance minister, Johari Abdul Ghani, said: "Proton will always remain a national car and a source of maken pride.
The stake in luiertas Proton is expected to give Geely access to the south-east Asian market, where it wants to use Volvo technologies to reclaim market share.This second model was also produced in South Korea by voor Kia Motors between 19, voor rebadged as the Kia Elan.more on Wikipedia see more on, lotus Elan.Hunt acquired maken the name after the original Team Lotus luiertas folded in 1994.China-based Geely which has successfully transformed Volvo thinks it can repeat history with its maken latest acquisition, Hethel, UK-based Lotus sports maken cars.James Chao, of consultancy IHS Markit Automotive, said: "Geely has validated the model of using their Volvo technology platform to create good products.The Malaysian government zelf gave Proton.5bn ringgit (364m) in financial aid last year on condition that it find a foreign partner.A similar Elan-inspired model called Evante was produced from mid-1980s by British Lotus specialists Vegantune.Image copyright Lotus Image caption The new zelf Lotus Evora 400.It was effectively locked out of United States in 2015 when its airbags failed to comply with new car safety regulations, but Lotus returned to the American market last summer.It will continue to be majority owned by the Malaysian DRB-hicom group.Under new ownership and management come new agendas."We come together with a common goal: to continue our great success in motorsport said Lotus' communications boss Gino Rosato, formerly the security man at Ferrari.Proton was founded in 1983 by former Malaysian prime minister Mahathir Mohamad, but its fortunes have dwindled from national champion to being a minor player even in its own domestic market.Lotus, the British sports car maker, is being bought by China's Geely.A few months ago, Geely acquired a controlling stake in Lotus.
That should be the same for Proton.".
Bahars replacement CEO Aslam Farikullah cancelled Bahars plans for several new models.
Donghui Li said: With the transaction completion we now look forward to working with our partners to develop the Lotus brand maker into a globally competitive brand and a well-recognised leader in the sports car market.