lotus-evora-2015-mag-1 (1)

British automaker Lotus is one step closer to commencing Chinese production after signing a joint-venture agreement with Goldstar Heavy Industrial Co. Ltd. with Proton.

The agreement paves the way for a potential business expansion of Lotus cars throughout China and leverages on incentives offered by the Fujian Provincial Government. As part of the deal, a new company will be formed for the research and development of Lotus models in the region with the new company pinned to then begin local production and sales of Lotus branded models.

Discussing this, the president of Goldstar Dato Adbul 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.”

Lotus chief executive Jean-Marc Gales expanded on this by saying, “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.”

[showhide]
PROTON, LOTUS GROUP AND GOLDSTAR
SIGNED JV AGREEMENT
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 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,” JeanMarc
Gales commented further.
[/showhide]

LEAVE A REPLY

Please enter your comment!
Please enter your name here