Group Lotus owner Proton has played down reports that it could sell Norfolk sports car firm Lotus
12 October 2011

Group Lotus owner Proton has played down reports that it could sell the Norfolk sports car firm to investment company Genii Capital.

However, the Malaysian car firm has also stated that it is open to discussions about outside investment into Lotus, leaving the door open for a possible link-up with Genii.

On Saturday Autocar reported on speculation that Genii, founded and run by Gérard Lopez, was interested in buying a stake in Group Lotus.

Genii owns a large portion of the Renault GP, but Group Lotus sponsors the F1 squad and also has a 25 per cent stake.

A statement from Proton said: “The alleged moves between Group Lotus and Genii Capital are untrue and that the reports are highly speculative in nature. Proton's relationship with Group Lotus is as good as it has ever been. Our priority now is to ensure that the Lotus business turnaround plan is executed according to schedule and that both parties are committed to its success.

“Proton and Lotus have reached a juncture whereby the market is eagerly waiting for Lotus' new products and all our energy and efforts have to be channelled towards achieving this critical goal.

“However we wish to add, that as a proactive business entity, the Proton Group of Companies will continue to initiate and consider viable business opportunities and arrangements which will benefit and add value to the group's interest.”

Lotus has embarked on an ambitious plan to increase its sales figures from under 3000 to about 7000 by the end of 2015. Read more about that here.

See all the latest Lotus reviews, news and video


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