China’s Geely Purchases Lotus, Plans to Restore the Brand’s Lost Luster

Zhejiang Geely Holding Group Company based out of China has bought a stake in the UK’s car company Lotus. The company has a history of saving other major car companies in the past, most noteably Volvo. They have big plans on buying into of other car companies in the future and they hope to improve the market.

Key Takeaways:

  • China’s Zhejiang Geely Holding Group Company has decided to purchase a 49.9 percent stake in Proton from Malaysian conglomerate DRB-Hicom.
  • Not just because it has received criticism for modeling its own cars after everything from Roll-Royce to Toyota, but because it also purchased Volvo Cars and the London Taxi Company.
  • Whether or not you like the idea of a Chinese company owning distinctively European brands, Geely helped Volvo come back from the brink and has committed to doing the same for Lotus.

“Everyone likes the Elise, but it’s time to move on after 16 years.”