“PSA is ready to invest a lot of money in Proton and build a new plant in Tanjung Malim, Perak. But Chinese car manufacturer Geely Automobile Holdings Ltd, the other contender to buy a 51% stake in Proton, may be offered a proposal to take over Lotus from Proton. In earlier negotiations with DRB-Hicom, Geely had expressed more interest in acquiring Lotus, which produces sports cars, rather than the whole of Proton. On the bids for Proton, StarBiz recently reported that Geely was the frontrunner in securing the valuable strategic partnerhip with Proton. Keen on the Asean market, Geely produces a variety of vehicle types, including SUVs and sedans.

Source: The Star February 17, 2017 23:39 UTC