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Old 01-26-2007, 05:05 PM   #1
NYCshopper
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Default Proton (and Lotus) to be sold to VW

Proton (and Lotus) to be sold to VW

http://www.autocar.co.uk/News/NewsAr...aspx?AR=223989

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A majority stake in Proton is to be sold to Volkswagen, according to Asian business reports, passing control not only of the Malaysian state-owned car-maker to VW, but also of British sports car-maker Lotus.

Autocar's sources suggest that VW is to take a 51 per cent stake in Proton, which it will confirm in an announcement to the press on February 8. Proton, in turn, has owned an 80 per cent stake of Group Lotus, the company within which Lotus Cars operates, since 1996. The sale would therefore leave Hethel's best-known brand firmly under the control of Wolfsburg from now on.

The sale of Proton has been mooted since the middle of last year. Various bidders have been linked with its acquisition, including General Motors and PSA Peugeot-Citroen.

The implications that the sale might have for Lotus will remain unclear until the sale is made public.
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Old 01-26-2007, 05:13 PM   #2
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Think Porsche wants access to some of Lotus' engineers?

Peace,

Greg
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Old 01-26-2007, 05:31 PM   #3
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I would think that VW wants to clean up it's own messes first, before it buys up other small carmakers.
I gotta say, that I am surprised that it wasn't sold to a Chinese automaker - it would give them a foothold in some existing markets with an established name.
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Old 01-26-2007, 05:46 PM   #4
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Quote:
Originally Posted by Hazdaz View Post
I would think that VW wants to clean up it's own messes first, before it buys up other small carmakers.
I gotta say, that I am surprised that it wasn't sold to a Chinese automaker - it would give them a foothold in some existing markets with an established name.
You mean Chinese auto makers would want the Proton brand name? I don't think Chinese will have a lot of trouble entering the south east Asian markets, where Proton brand can be considered sort of established. Chinese think of south east Asia like Americans think of south America.

Pretty much the only Asian countries that consider Chinese stuff to be "cheap" are Japan and Korea.
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Old 01-26-2007, 06:01 PM   #5
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^^ I actually should have said a "semi-established" name - meaning Proton. But also an establish name in the sportscar world - meaning Lotus.

And lets be honest here, Proton while basically unknown in the US, is still probably more famous and sounds more legit to most people than one of the hundreds of Chinese car companies.
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Old 01-26-2007, 06:12 PM   #6
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Old 01-26-2007, 09:32 PM   #7
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maybe now lotus will get proper engines for their lotus elise? MM 2.0T inside a elise. (im dreaming)

BlitZ
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Old 01-26-2007, 10:28 PM   #8
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Originally Posted by Blitzkrieg View Post
maybe now lotus will get proper engines for their lotus elise? MM 2.0T inside a elise. (im dreaming)

BlitZ
That is exactly what I thought when I read the headline. That engine + 2000 lbs = OMG.

~~Quentin
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Old 01-26-2007, 10:39 PM   #9
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hm... i want to get a exige s so i wonder what they will do to it
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Old 01-27-2007, 11:01 AM   #10
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Originally Posted by Blitzkrieg View Post
maybe now lotus will get proper engines for their lotus elise? MM 2.0T inside a elise. (im dreaming)

BlitZ
Isn't that a Vauxhall VX220?
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Old 01-27-2007, 06:56 PM   #11
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I believe they call that a Europa now.

BlitZ
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