Volvo Parent Geely Is Buying Lotus (And Part Of Proton)

Chinese automaker Geely is expanding its portfolio. Not only does it produce cars under its own name, but it also owns Volvo, the London Taxi Company, and is in the process of launching the new Lynk & Co brand. And now it’s bringing another couple of brands under its vast umbrella.

Under a new deal announced today, Geely will acquire nearly half of DRB-HICOM’s stake in Malaysian automaker Proton, and a majority of its ownership in British sports car manufacturer Lotus.

The final terms are still being ironed out, and aren’t expected to be announced until July. Unclear at the moment is whether Geely will be getting only half of the shares that DRB-HICOM holds in Proton and Lotus, or of the automakers altogether. However the arrangement looks poised to put Lotus under new ownership for the fifth time in the past three decades or so.

The company founded by Colin Chapman became part of General Motors in 1986, was acquired by Romano Artioli of Bugatti fame in 1993, and sold to Proton in 1996, which was in turn acquired by DRB-HICOM in 2012.

Only time will tell what Geely has in store for Lotus (and for Proton). But if it can do for the legendary English brand what it has for Volvo and LTC, it could amount to a positive future for the “add lightness” constructor.

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  • Infinite1

    Hopefully, their will be more Lotus models for the U.S. market in the future.

  • TheBelltower

    Lotus needs a ton of money dumped into R&D and a sales network. British brands are notoriously difficult to make work, and require an enormous investment that often don’t make financial sense in the short term. Lotus has been bounced around like a hot potato, so hopefully Geely can utilize the knowledge from those who worked with Volvo.

    • KareKakk

      Maybe the next step is to put Lotus-badges on some Proton Iriz, in order to compete with the other british legend MG and their 3-model? 😀

  • pureworx

    what will happen to the exisitng toyota engines lotus uses? possible future swapping of powertrains to volvo ones?

  • roy

    now geely is coming together really well

  • Bob

    First Tata, now Geely. I must say, just so we can have more cars I quite like that these companies have done so decently with their acquisitions.

    • Status

      It would seem that for the 50+ domestic automakers in China that Geely is the only one that has global ambitions. The others seem like ‘also ran’ nameplates that are there just so that foreign automakers can be paired with them before they enter the Chinese market.

  • fabri99

    Hopefully a help from Volvo will fix some problems in Lotus… We need a wider and more various range NOW.

  • Tostik

    Lotus and Polestar? Hmmm….

  • Benjamin B.

    Please please come up with an all new model that isn’t a special goddamn edition

  • BarryFastCars

    I am very surprised that Toyota never purchased Lotus outright. They have had a fairly long history together. Geely purchasing a controlling stake in Lotus is very good new though. They have really stepped up to the plate with Volvo, allowing them the freedom to make Volvo its own unique brand, then Geely capitalizes by using their well designed platform for their own world car. Perhaps Volvo and Lotus will share some engineering notes. Lotus’ aluminum manufacturing prowess can only help the other brands in the future. Will we Volvo 3 and 4 cylinders in the back of Lotus’ in the future? This will be very interesting that is for sure.

  • Tumbi Mtika

    FUCK. YEEEEEEEEEEEEEEEEEEEEAAAAAAAAAAAAAAAAAAAHHHHHHHHHHHHHH!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

    • Tumbi Mtika

      Finally. I’ve waited for this for SO LONG.

      Lotus is here to stay, everybody!

  • don’t care for Proton, but hope for Lotus that they will give them like they did for Volvo the means to succeed.

  • Dennis James

    Hopefully they will not interfere too much aside from the financial stuff.

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