Chinese car maker has agreed to buy a 49.9 per cent stake in Malaysian manufacturer Proton. The deal involves Proton selling off its entire stake in British car manufacturer Lotus to Geely.
Geely, also controls Sweden's Volvo Car Group, buying Lotus is expected to increase Geely's presence in SE Asia. Malaysia has been trying to resuscitate its formerly state-owned car maker for years.
Proton was privatised in 2012 but its market share dwindled to around 12 per cent last year. The companies plan to sign a final agreement in July.
Will Geely leave Lotus to keep doing there own thing?
Or will they be tempted to meddle resulting in another "SAAB" story?
All comments welcome.
