Geely Acquires a Controlling Interest in Lotus

After purchasing Swedish manufacturer Volvo in 2010, the Chinese company Geely Holding is about to grab a 51% stake in Lotus.

The famous English brand, founded in 1952 by Colin Chapman, made its mark in motorsports, notably in the Formula One championship. It also produced well-known cars such as the Esprit, the Elan and the Elise. It currently builds four low-volume cars: the Elise, the Exige, the 3-Eleven and the Evora.

Lotus changed owners a few times during its financially troubled existence. The last one being Malaysian manufacturer Proton, in which Geely is also purchasing a 49% stake.

Founded in 1983, the Proton brand initially built cars designed by Mitsubishi. The very first car produced in Malaysia was the Proton Saga, a clone of the Mitsubishi Mirage. In Canada, this car was sold as the Dodge Colt and Plymouth Colt.

With Volvo, Lotus, Proton and LYNK & CO, the Geely group is expanding its horizons. Aside from its own lineup of vehicles, the automaker now owns a luxury brand, a sports-car brand, a brand of affordable vehicles as well as a brand established as a car-sharing platform.

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