Geely Holding, the current owner of Volvo, is the new owner of the brand Proton. As part of the agreement, shall in addition to the control of the Lotus brand.
Andhe rise of the automobile manufacturer chinese Geely does not stop. Geely Holding already owns Geely Automotive, Volvo and Lync & Co and now will buy the 49 percent of Proton, the signature malay who control the legendary brand Lotus.
In this way Geely manages to move the PSA Group, which also sought to take control of Proton. As part of the agreement, the chinese company would also take on the control of Lotus, with a participation of between 50 and 75 percent. This will help to give a new life to the brand, whose sales do not stop falling.
Lotus is at the forefront in regards to composite materials and Geely will try to take advantage of that knowledge for the benefit of its models and to enable them to meet the strict emissions standards in China.
on the other hand, Geely could help Proton achieve to increase their participation in foreign markets. Currently, Proton has two assembly plants in Malaysia, which have the capacity to build 400,000 vehicles per year, but for 2016 were barely assembled 150,000 units.
Geely hopes to use those two factories for the manufacture of their models, since these facilities have the ability to produce vehicles with steering wheel to the right, which will serve to expand the participation of Geely in the asian markets.