Proton has been sold by the Malaysian government for $410m, but the sale "changes nothing" for Lotus

The sale of Proton by the Malaysian government "changes nothing" for Lotus, which is owned by the struggling carmaker.

An official statement issued by Lotus this morning said: "As far as we are aware, this situation changes nothing for Lotus, Proton's support in our development remains very strong and our focus, as always, is on the delivery of the business plan."

Malaysia’s state-owned investment firm yesterday sold its stake in Proton in a deal worth $410m.

Khazanah Nasional sold its 42.7 per cent stake in Proton Holdings to car distributor and importer DRB-Hicom and expects to complete the deal by the second quarter of the year.

DRB-Hicom builds and distributes Mercedes and Volkswagen models, and has eight assembly plants, four of which are for cars. The deal gives DRB control of two plants in Malaysia with a combined capacity of 350,000 units per year.

Stuart Milne

Join the debate

Comments
12

16 January 2012

That's an interesting turn of event's.

I think we have a new Saab type thread!

Protony, what do you think? ;-)

 

 

It's all about the twisties........

16 January 2012

This whole thing is begining to smell of Au De Lorien !!! All those fancy super cars they were trying to kid you with etc. I fear we are going to see something unpleasant happened to Lotus AND for sure their F1 Team !!!! Mind you at the price it has been sold I wouldnt have minded buying it. Has loads of potential, but they will have to remove all those child workers before they can start being serious.

16 January 2012

'Spanner in the works' for Lotus grand plans I wonder?

16 January 2012

No-one in Europe is remotely interested in the fate of struggling Proton - but for the way in which it will impact on struggling Lotus - which probably says all that needs to be said. They tried, they failed, and now they look doomed.

16 January 2012

Apparently they are not allowed to sell any part of the company for 2 years (though I suspect Lotus has already been sold separately). To me that suggests that the factories will start building VW/Skodas or Chevrolets or perhaps Dacias soon, Proton will be allowed to wither and then two years later the factories will be sold off to the international parent company at a profit.....

16 January 2012

Suggests that the government has given up on its national car project and wants to secure a larger piece of the assembly of overseas marques for the local market.

This should leave the new owners free to build Lotus if they believe they can make money on them.

16 January 2012

So, 'Malaysian government sells Proton' doesn't mean they have got rid of one of the pool cars then?

16 January 2012

[quote gussy51](though I suspect Lotus has already been sold separately)[/quote] Yes, I think that Lotus future has been decided at the end of last year...but who is going to buy it? I have no idea...

16 January 2012

Am I being dumb, or does this mean the whole of Proton was sold for less than the sum of money that they were supposed to be pumping into Lotus ?

16 January 2012

[quote matsoc][quote gussy51](though I suspect Lotus has already been sold separately)[/quote] Yes, I think that Lotus future has been decided at the end of last year...but who is going to buy it? I have no idea...[/quote] Various rumours from F1 circles suggest Genii Capital who own the Lotus (formerly Renault) F1 team were trying to put together a consortium to buy it. They were once linked to Saab so its possible that they have decent sums of money, and some of the new product like the Esprit is nearly developed so may not cost much more to finish.

Pages

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week