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KUALA LUMPUR – Proton Holdings Berhad (“Proton”) the ultimate
holding company of Lotus Group, announced that it has signed a
Joint Venture (“JV”) Agreement with Lotus Group International
Limited, United Kingdom (“Lotus Group”) and Goldstar Heavy
Industrial Co. Ltd. (“Goldstar”) for a possible business
expansion of Lotus cars in the People's Republic of China.
The exchange of documents cementing the
partnership between Proton, Lotus and Goldstar. Tun Dr Mahathir
Mohamad, Chairman of Proton, Dato’ Abdul
Harith Abdullah,
Chief Executive Officer of Proton, Jean-Marc
Gales, Chief Executive Officer, Group Lotus plc (and some others...) - image: Group Lotus
The collaboration seeks to accelerate the
development of Lotus cars in the premium sports segment in
China, leveraging on the incentives offered by the Fujian
Provincial Government. Both Proton and Lotus Group are
subsidiaries of DRB-Hicom Berhad.
Signing on behalf of Proton was the Honourable Tun Dr Mahathir
Mohamad, Chairman of Proton and former Prime Minister of
Malaysia and witnessed by Dato’ Abdul Harith Abdullah, Chief
Executive Officer of Proton. Signing on behalf of Lotus Group
International Limited, United Kingdom was Jean-Marc Gales, Chief
Executive Officer and witnessed by Mr Rohime Shafie, Director of
Lotus Group and Chief Financial Officer of Proton; and signing
on behalf of Goldstar was Mr Zheng Qianghui, Chairman of
Goldstar and witnessed by Mr Zhai Wenliang, President of
Goldstar.
Dato’ Abdul Harith Abdullah said “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.
“The automotive market in China is the single largest in the
world today, and is still growing, therefore it is only natural
for an established iconic company like Lotus to embark upon the
possibility of expansion, venture into the market and seek the
available opportunities, in light of the keen interest shown by
the many enquiries received thus far. It is very difficult to
ignore the market and Lotus will fill the gap in providing a
lifestyle alternative to the growing demands of the affluent and
market conscious local community,” Dato' Harith added.
"On April 7, 2015, Lotus announced 55% increase in car sales for
its 2014/15 financial year, compared to the previous year with
36 new dealers appointed during the period 2014/15. And 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,"
Jean-Marc Gales commented further.
Chairman of DRB-HICOM Group, Dato’ Syed Mohamad Syed Murtaza (seventh
from left) was present with Board and Senior Management of
Proton together with Lotus and Goldstar to witness the
historical occasion.
Lotus will continue to manufacture its current range of Lotus
sports cars (Evora, Exige and Elise) exclusively at its HQ in
Hethel, England.
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