Proton to collaborate with Lotus and GoldstarPOSTED BY ON 17 April 2015
PROTON Holdings Bhd is partnering with Lotus Group International Ltd and Goldstar Heavy Industrial Co Ltd for a possible business expansion of Lotus cars in China, after signing a joint venture (JV) agreement with the two automotive companies.
The collaboration seeks to accelerate the development of Lotus cars in the premium sports segment in the East Asian sovereign state, leveraging on the incentives offered by the Fujian provincial government.
“The agreement will see the establishment of a new JV company for the purpose of undertaking research and development activities in the use of efficient and advanced technology. The company will then produce and sell Lotus cars as well as provide after sales services in connection with its products in China,” Proton’s chief executive Dato’ Abdul Harith Abdullah said.
“The automotive market in China is the single largest in the world today, and is still growing. Therefore, it is only natural for an established iconic company like Lotus to embark upon the possibility of expansion, venture into the market and seek the available opportunities, in light of the keen interest shown by the many enquiries received thus far.”
He added: “It is very difficult to ignore the market and Lotus will fill the gap in providing a lifestyle alternative to the growing demands of the affluent and market conscious local community.”
“China has appeared to be the top key growth market for Lotus exports and is expected to grow at a very fast rate. We are excited about the opportunities of this new joint venture,” said Lotus Group’s chief executive Jean-Marc Gales.
Lotus recently announced an increase of 55 percent in vehicle sales for its 2014-2015 financial year compared to the previous year, with 36 new dealers appointed during the abovementioned period.
It will continue to manufacture its current range of Lotus sports cars including the Evora, Exige and Elise, exclusively at its headquarters in Hethel, England.