Lotus Group has signed a joint venture agreement with Proton and China’s Goldstar Heavy Industrial which will allow the UK sports car manufacturer to build and sell vehicles in the world’s largest auto market.
Under the agreement, Lotus will accelerate the development of its cars in China, leveraging on the incentives offered by the Fujian Provincial Government. Both Proton and Lotus Group are subsidiaries of DRB-HICOM Berhad.
“The JV Agreement will see the establishment of a new JV Company for the purpose of undertaking research and development (R&D) activities in the use of efficient and advanced technology. The JV Company will then produce and sell Lotus branded passenger cars as well as provide after sales services in connection with its products in the People’s Republic of China,” said Proton CEO Dato’ Abdul Harith Abdullah.
“China has appeared to be the top key growth market for Lotus exports and is expected to grow at a very fast rate. Lotus Group is excited about the opportunities of this new Joint Venture,” said Lotus CEO Jean-Marc Gales.
Despite its production plans for China, Lotus said it will continue to manufacture its current range of sports cars (Evora, Exige and Elise) exclusively at its headquarters in Hethel, England, which means the models made in China will be new – the rumored crossover would be a prime candidate.
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