Geely finalizes Proton purchase
Deal opens door to Southeast Asian market for the Chinese cars
Chinese automaker Geely as completed a deal to buy 49.9% of struggling Malaysian car maker Proton, as well as 51% of the firm’s ownership in Britain’s Lotus.
“For Proton, we hope to help gain back market share in Malaysia, and also expand into Asean,” Geely chairman Li Shufu was quoted by Reuters as saying.
He added that Geely would consider producing Lotus cars in China. “We hope to help Lotus penetrate the global market.”