It’s official, Lotus is now a property of china

Lotus

Frédéric Mercier

Monday, 2 October, 2017 08:54

UPDATE
Monday, 2 October, 2017 08:54

Look at this article

The chinese manufacturer Geely has officially purchased the majority share of Lotus.

Under this new agreement, first made public last may, Geely now owns 51% of the shares of Lotus. The rest remains the property of the malaysian company Etika Automotive.

Despite these administrative changes, the CEO of Lotus, Jean-Marc Gales, will remain in position. However, it will be surrounded by new leaders, who will attempt to give a second breath to Lotus.

Founded in 1952 by the driver, Colin Chapman, Lotus has become a true icon of the british car industry. Known for its performance vehicles, the Lotus has proven itself in various tests of international racing, especially in Formula 1 and the 24 Hours of le Mans.

Read also: Lotus will manufacture an SUV

Even if some purists might be offended to see the brand move the hands of a chinese group, Geely has already proven that it could have a positive impact on the development of a brand.

Since she has been the acquisition of Volvo, the manufacturer with origins in sweden has the wind in its sails, and presents products that are more competitive than ever. Volvo has even taken the automotive world by surprise in July by announcing that it would develop hybrid models or electric starting in 2019.

Is that the same corner waiting for Lotus? It is too early to tell, but the effects of this change of hands will definitely feel it.