China’s Zhejiang Geely will take a majority stake in Lotus as part of a deal to invest in the historic British sports car maker’s parent company, according a statement put out by the Hangzhou-based company.
The Geely holding company, which owns the listed carmaker Geely, will take a 49 per cent stake in struggling Malaysian carmaker Proton according to the deal announced Wednesday morning.
Part of the deal will include the Chinese company also taking control of Proton’s Norwich-based subsidiary, Lotus, with a stake of 51 per cent.
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