Volkswagen to take stake in Malaysia Proton's manufacturing unit
KUALA LUMPUR (XFN-ASIA) - Volkswagen AG has signed an agreement to buy a substantial stake in the manufacturing arm of Malaysia's Proton Holdings Bhd, sources familiar with the deal told XFN-Asia.
An announcement is expected to be made on Feb 8, one source said.
He said the German carmaker is likely to take a 51 pct stake in Proton's manufacturing division.
Proton parent of Lotus is about to be under the rule of Volkswagen, this cannot be good. In an ideal world Lotus would have access to the power of VW and the Elise, but it is not ideal. I can see a redesign of the Elise and Exige would phase out the Toyota 1.8L engine in favor of a VW 3.2L V6. Goodbye my friend. Hopefully this will make the Proton Elise/Exige more desirable.