Volvo parent company Geely has agreed to purchase a 49.9 percent stake in Proton, the Malaysian automaker that owns Lotus. The company also bought 51 percent of Lotus. “We aim to unleash the full potential of Lotus Cars and bring it into a new phase of development, thanks to our experience accumulated through Volvo Cars’ revitalization,” said Geely CFO Daniel Donghui Li in a statement.
