Suggestions that Malaysia’s national carmaker Proton might sell UK-based Lotus Group (wholly owned by Proton) have been dismissed as “Malaysian press speculation” by a senior executive at the sportscar maker.
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Lotus marketing director Robert Tickner’s comments supported a denial by new Proton managing director Syed Zainal Abidin Syed Mohammed Tahir in a weekend newspaper in Malaysia.
“We are not interested to sell [Lotus] for whatever value,” he was quoted as saying by The Star.
Money-losing Proton has said recently it is divesting its non-core assets as part of an attempt to return to profitability and, late last year, sold its stake in debt-ridden Italian motorcycle maker MV Agusta for a nominal EUR1 (US$1.19) to Italian investment holding company Gevi SPA.
Tickner told just-auto that some Malaysian media had been speculating that Lotus would be next but that was definitely “not the case”.
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By GlobalDataThe Star quoted Syed Zainal Abidin as saying Lotus has an important role in enhancing the engineering capabilities and branding of Proton cars, and had met Lotus management recently to discuss ways to collaborate in a “more structured and focused manner.”
“Regardless of what kind of alliance we are going to have with Mitsubishi or any other car manufacturers, Lotus will remain part of Proton,” he reportedly added.
Tickner confirmed the meeting, adding that it was Syed Zainal Abidin’s first opportunity to meet senior management officials.
“He expressed clear support for Lotus as an organisation and said he wanted us to work together with Proton more closely in the future,” Tickner added.
Lower import tariffs as a result of a new free trade agreement have increased imported vehicle competition for Proton which is fighting back with such measures as a new technical collaboration deal with long-time partner Mitsubishi and talking with Volkswagen about assembling some of the German automaker’s models in Malaysia.
