Last week, Reuters reported that the ever-expanding Volkswagen Group is considering to place a new bid for Proton, which owns the Lotus brand, some five years after the Germans failed to form a tie up with the Malaysian carmaker as it seeks to extend its reach in the southeast Asian markets.
Today, DRB-Hicom, which acquired a 42.7 percent stake in Proton earlier this year, said that it had received an offer from an unnamed foreign company to buy Lotus for £1 (US$1.6 / €1.3) and take over the British company's debts that amount to more than £200 million (US$311 million / €257 million).
The Malaysian company said it rejected the offer. "The easy way out was to accept the offer," Mohd Khamil, Proton executive chairman, told The Star. "As a businessman, that was what I could have done to cut the loss, move on."
"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," he added.
While DRB-Hicom would not reveal the name of the company interested in Lotus, some have speculated that it could be Volkswagen. However, it's appears that the Germans are purely interested in Proton with Lotus simply being a part of the deal that it may or may not want to keep.
In related news, DRB-Hicom said that it would wind down its previous, overly ambitious plan to produce the five concept models shown at the 2010 Paris Motor Show and which was conceived under the leadership of former CEO Dany Bahar, who was fired last month.
According to Autocar magazine, it is not known yet if any of the five cars, which include the new Elise, Esprit, Elite GT, Elan and Eterne sports saloon, will survive.
Interesting times for Lotus indeed…
Story References: Reuters via Worldcarfans
8 Comments:
I love that Elite although I hate the name. If VW succeeds in purchasing Proton, I hope they make this car.
Please, don't let my beloved Lotus die. If VW saves and improves Lotus, so be it.
I hope VW does take over, providing some financial safety, and allowing Lotus to carry on with the current direction they have taken with their designs. These models are absolutely stunning.
DRB Hicom should simply "Take the Money" from VW. DRB-H is in WAY over their heads. The so want the Lotus brand to succeed - their revival plan was ambitious however the execution cannot be completed without the strong financial bandwidth & additional engineering & marketing resources VW has in-house. I still hope to see the Esprite, Eterne & other vehicles one day albeit under the ownership of brand that would truly know how to market Lotus. With Bugatti, Porsche, Lamborghini, Bentley already under VW's helm - Lotus would fit perfectly while allowing vW broader entry into Asian markets.
no way
i prefer to sell it to any other except VW
I HATE THIS SHIT
PLEASE take over the crap company that is proton and make them make something that the nation actually WANTS to buy, the germans are the only one that has hope
I saw all the Lotus concept models at the 2012 LA Auto Show they all breathtaking. It would be a shame not to see them produced.
anybody except Volkstractors would be good, they steal a lot of techonology. Imagine a 1.9 TDI Evora, lolol. Honda would be great, almost any Jap company.
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