May 24, 2017

British sports car maker Lotus bought by China's Geely

Lotus, the British sports car maker, is being bought by China's Geely. The purchase is part of a deal by Geely to buy a 49.9% stake in Malaysian carmaker Proton, which owns Lotus. Geely, which also owns the London Taxi Company and Sweden's Volvo Car Group, will take a 51% stake in Lotus. The vehicle costs about £75,000 in the UK. While the Lotus car company has not been involved in Formula 1 racing since the 1990s it runs an engineering consultancy selling sports car technology. Malaysia's second finance minister, Johari Abdul Ghani, said: "Proton will always remain a national car and a source of pride. Our very own much-loved brand now has a real chance in making a comeback."

Read the full story

 Related companies

Make a complaint about Volvo by viewing their customer service contacts.