April 18, 2015

Proton, Lotus Group and Goldstar signed JV agreement

Proton Holdings Berhad (Proton) the ultimate holding company of Lotus Group, announced that it has signed a joint-venture (JV) agreement with Lotus Group International Limited, United Kingdom (Lotus Group) and Goldstar Heavy Industrial Co. Ltd. (Goldstar) 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. Both Proton and Lotus Group are subsidiaries of DRB-HICOM Berhad.

Signing on behalf of Proton was the Honourable Tun Dr. Mahathir Mohamad, Chairman of Proton and former Prime Minister of Malaysia and witnessed by Dato' Abdul Harith Abdullah, Chief Executive Officer of Proton. Signing on behalf of Lotus Group International Limited, United Kingdom was Jean-Marc Gales, Chief Executive Officer and witnessed by Rohime Shafie, Director of Lotus Group and Chief Financial Officer of Proton; and signing on behalf of Goldstar was Zheng Qianghui, Chairman of Goldstar and witnessed by Zhai Wenliang, President of Goldstar.

"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. 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," said  said Dato' Abdul Harith Abdullah.


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