KUALA LUMPUR: DRB-Hicom Bhd and Zhejiang Geely Holdings Group have signed the final agreement, which sees the latter acquiring 49.99% of car manufacturer Proton and 51% of luxury sports car brand Lotus.Prime Minister Datuk Seri Najib Tun Razak said on Friday that the signing of agreement cements the new beginning of strategic partnership between both companies. ''Following this strategic partnership, Proton will have the ability and resources to turn itself around and become an example of Malaysian success. ''Geely is a company with the right credentials and proven track record. Our partnership with DRB-Hicom will enable Proton to become the industry leader in Malaysia and a top three brand in Southeast Asia.“We will also continue to expand Lotus’ product portfolio and increase production to further enhance its brand. Proton will now focus their efforts with Zhejiang Geely on gaining domestic market share,” he said.

Source: The Star June 23, 2017 02:54 UTC