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Lotus Group plans China expansion

Proton has announced that it has signed a Joint Venture Agreement with Lotus Group and Goldstar Heavy Industrial Co. for a possible business expansion of Lotus cars in the People's Republic of China.

The collaboration seeks to accelerate the development of Lotus cars in the premium sports segment in China, leveraging on the incentives offered by the Fujian Provincial Government.

“The JV Agreement will see the establishment of a new JV Company for the purpose of undertaking research and development (R&D) activities in the use of efficient and advanced technology,” said Dato’ Abdul Harith Abdullah, Chief Executive Officer of Proton. “The JV Company will then produce and sell Lotus branded passenger cars as well as provide after sales services in connection with its products in the People’s Republic of China.

“The automotive market in China is the single largest in the world today, and is still growing, therefore it is only natural for an established iconic company like Lotus to embark upon the possibility of expansion, venture into the market and seek the available opportunities, in light of the keen interest shown by the many enquiries received thus far. It is very difficult to ignore the market and Lotus will fill the gap in providing a lifestyle alternative to the growing demands of the affluent and market conscious local community,” Dato' Harith added.

"On April 7, 2015, Lotus announced a 55 per cent increase in car sales for its 2014/15 financial year, compared to the previous year with 36 new dealers appointed during the period 2014/15. And China has appeared to be the top key growth market for Lotus exports and is expected to grow at a very fast rate. Lotus Group is excited about the opportunities of this new Joint Venture," Jean-Marc Gales commented further.

Lotus will continue to manufacture its current range of Lotus sports cars (Evora, Exige and Elise) exclusively at its HQ in Hethel, England.

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