BEIJING: Lotus and parent company Proton have announced a new joint venture that aims to see production for the sports carmaker take place in China.
Joining forces with Chinese company Goldstar Heavy Industrial Co., Lotus is seeking to “accelerate the development of Lotus cars in the premium sports segment in China”.
The joint venture means Lotus can access financial incentives from the Fujian Provincial Government, under arrangements that have enticed many other global carmakers to strike similar agreements with Chinese companies.
A research and development component also forms part of the arrangement, along with an after-sales service program for Chinese Lotus customers.
“Lotus [recently] announced a 55 percent increase in car sales for its 2014/15 financial year, compared to the previous year with 36 new dealers appointed during the period 2014/15,” Lotus CEO Jean-Marc Gales said.
“China has appeared to be the top key growth market for Lotus exports and is expected to grow at a very fast rate. Lotus Group is excited about the opportunities of this new joint venture.”
It is unclear at this stage whether Chinese-built Lotus models will be sold outside of the People’s Republic.
