Geely to consider producing Lotus cars in China after buying into Proton, Lotus

Kuala Lumpur

CHINESE billionaire Li Shufu said that his Zhejiang Geely Holding Group will consider producing Lotus sports cars in China after agreeing to purchase stakes in Malaysian carmaker Proton Holdings Bhd and its British unit.

Geely signed a final deal to acquire 49.9 per cent of Proton and 51 per cent of Lotus Cars from Malaysia's DRB-Hicom Bhd, and expects to complete the transaction in three months, the Chinese carmaker said in a statement in Kuala Lumpur on Friday. It will then form a core management team recruited from a pool of global candidates to ensure the smooth operation of Proton, the company said.