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China’s Geely Buys Majority Stake in Lotus Sports Cars

September 30, 2017

Geely buy Lotus Cars
China’s Geely buying majority stake in Lotus Sports Cars

China’s giant car manufacturer, Geely who also owns Volvo Cars, announced yesterday (29 Sep) that they completed the transaction to purchase a majority stake in the British luxury sports brand Lotus.

Geely Holdings now owns a majority stake of (51%) in Lotus Cars with a minority (49%) being held by Etika Automotive, a Malaysian automotive group.

Current boss, Jean-Marc Gales will continue in his role at Lotus as the Chief Executive Officer since joining the company in 2014, while a number of new appointments have been made to the Lotus board.

In the first half of 2017, Lotus has already entered into a positive cash flow situation with sales rising by 10% in the first half in year on year comparison. With the introduction of new models over the course of this year, including the introduction of the fastest Lotus ever made – the Evora GT430 and with further expansion into the US and Chinese markets, Geely Holdings are confident that Lotus will continue to excel.

Lotus Evora
Lotus Evora rear
Recently unveiled Lotus Evora GT430 – With a 0-100km/h time in 3.6 seconds and top speed of 315km/h its the fastest ever road-going Lotus!

CEO, Jean-Marc Gales said: “Following a successful business turnaround, the Lotus brand has never been in a stronger position and we are now perfectly positioned for growth. We are producing the best cars in the company’s history and are currently developing next generation of sports luxury vehicles which will continue to demonstrate the Lotus brand values of class-leading vehicle dynamics, light weighting, styling and aerodynamics by leveraging Geely Holding’s global strengths and resources.”

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