Malaysian automaker Proton may sell off its ownership stake in British sports car maker Lotus in an effort to raise funds.
Automotive News Europe claims that Proton’s owner, DRM-Hicom, may sell Lotus and possibly its majority stake in Proton. This can be a push to revive the struggling Proton and would come after the Malaysian government gave Proton the equivalent of $365 million in financial aid back in April.
It is rumored that Proton submitted partnership proposals to almost 20 other carmakers in its attempts to find a new home. Suzuki, Renault and Peugeot have all confirmed that they’re responding to the proposals but haven’t yet publicized if they are indeed interested in partnering with Proton.
If Proton walks away from Lotus ownership, the small UK firm could face similar financial difficulties to those it encountered five years ago, before being purchased by DRB-Hicom. This could potentially hamper its future product plans that include an all-new Elise in the company years.
Founder of Auto Rebellion | Guest writer for zerotohundred.com