Report: GM to bid for Proton - owner of Lotus

Business Times is reporting that GM is planning to make a bid for Malaysian auto company Proton Holdings. Proton Holdings, which acquired Lotus in 1996, has been in trouble for a while and is need of partnership with a global car maker. GM is ready to cash out as much as $2.85 for each Proton share, while the Malaysian Government, which owns Porton, says it is willing to sell equity for Proton and is talking to several car makers including Volkswagen and Peugeot Citroen. A source says that GM hopes to use Malaysia to develop car parts at a low cost. Proton is currently valued at around $1.6 billion.
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S4cabriofoxone - 1/16/2007 8:35:37 PM

-1 Boost

Why?

The last thing GM needs right now is to lose money and resources on another brand- let alone such a small one like Proton's Lotus.

I think the larger European brands (VW, BMW, etc) or a few Japanese brands would be better suited. VW seems like it wants Proton the most of them all.

EvoAudi - 1/16/2007 8:43:49 PM

-1 Boost

NNNNNNNNNNNNNNOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO american built lotus.

drew630 - 1/16/2007 9:49:57 PM

-1 Boost

GM definitely does NOT need another brand, EVER! They have enough as it is.

kart1 - 1/16/2007 11:46:18 PM

+3 Boost

I was thinking the same thing when Proton got in trouble.

2JZSoarer - 1/17/2007 12:00:40 AM

+2 Boost

RIP to Lotus if GM obtains it...It was a great company!!

EvoAudi - 1/17/2007 1:33:08 AM

+3 Boost

the next lotus elise-4.2 Liter V8 with 4 mpg highway and 190 HP with a 60-hour reliability gaurantee.

S4cabriofoxone - 1/17/2007 11:13:03 PM

0 Boost

Don't worry... VW will get it.

Toyota fans have to admit- more than any other mainstream manufacturer, VW knows how to make amazing engineering. I can see the next Lotus Espirit with the RS4's V-8, or something along those lines.