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Monday, 2 January 2012

Lotus may be sold by Proton

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According to the investors of Proton Holding Bhd, a manufacturer of automobiles in Malaysia, that the company should sell its stake in Lotus, the British sports car marque. The Malaysian manufacturer has not made a profit from the Brit manufacturer for the last decade and a half, and Lotus doesn't seem likely to break even until 2014. The various product ranges of the two companies also means that there is no overlap, and hence no opportunities for synergies.

There is no shortage of prospective buyers for the English marque, ever since it showed off new models like the Evora in 2007-8. Lotus CEO Danny Taner Bahar says that as long as the company has the finances, they will break even two years from now. He also said that without the Proton group's funding and support, Lotus could not exist. 

It has been managed by Lotus to make money not just from selling new car models, but also as a contractor for other manufacturers like Tesla, whose cars are built around a Lotus chassis. Mahindra and Mahindra had also approached Lotus to iron out issues with the handling of the first-generation Scorpio. 

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