VW Close to Aquiring Majority Stake in Lotus Parent

Newspaper sources have confirmed that VW is about to embark on a due diligence audit of Proton before acquiring a 51% stake in the troubled Malaysian car maker. The PSA group comprising Peugeot and Citroen were also interested in Proton, but their focus was finding a development partner, not a company to take over. VW is expected to pay upwards of US$500m for its stake.

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S4cabriofoxone - 12/12/2006 6:02:42 PM

+1 Boost

Hmm.

Porsche wants to buy VW, which owns Audi, Bugatti, Bentley, Lamborghini, SEAT, and Skoda, which wants to buy Proton, which owns Lotus.

This is one of the most complicated family trees in the car industry.

chewy - 12/12/2006 6:57:36 PM

+1 Boost

Nice. Finally gets better engines.

AmazingBimmer - 12/14/2006 12:09:55 AM

0 Boost

its how audi actaully develops technology or products.. it just buys them!. lambo, bentley, etc. you think these morons who make VW jettas could ever make a car like the R8?. a total joke!

muzz88 - 12/15/2006 9:33:10 AM

+1 Boost

Firstly to Amazing Bimmer: you think Audi "bought" the R8/Gallardo??? The Gallardo was developed by Audi, otherwise we'd have the ugly as Canto. And the R8 was further developed by Audi. Same with the new Bentley Continental, developed by Bentley under VW ownership (hense the shared development with the A8 and Phaeton)

Secondly, this post has it wrong, VW isn't looking to by Proton as a company, the Malaysian government won't allow it. VW is considering buying 51% of their manufacturing operations (ie their malaysian factories) Proton Holdings and Lotus will NOT be VW owned, although future VW and Proton models may share components and most likely will be co-developed.