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."
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