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China's Geely buying majority stake in Lotus

Geely, the Hong Kong car company that owns Volvo, is acquiring control of British car company Lotus. Geely is purchasing a 51-percent stake in Lotus from struggling Malaysian car company Proton, and a 49.9 percent stake in Proton itself. Etika Automotive will gain the other 49 percent of Lotus. France's PSA Group and Japan's Suzuki had apparently also been interested in acquiring Proton. Geely says it plans to revive both Proton and Lotus. "The agreement lays the foundation for a wider framework for both Geely Holding, Proton and Lotus to explore joint synergies in areas such as research and development, manufacturing and market presence," Geely said in a news release. Those joint synergies will be highlighted by the lightweight chassis technology Lotus is known for, which could help Geely improve fuel efficiency. Geely CFO Daniel Donghui Li said the company aims to "unleash the full potential of Lotus Cars" by expanding and accelerating new products and technologies. Proton was nationally held but was privatized in 2007 to Malaysian conglomerate DRB-Hicom, which is owned by tycoon Syed Mokhtar Al-Bukhary. It was supposed to be the flagship for Malaysia's economic development.Though it owns two factories, Proton mainly rebadges foreign-made cars and sells them in Malaysia. What it has, what Geely presumably wants, is a distribution network in Southeast Asia to pit Chinese cars against Japanese automotive dominance in the region. Retaining a 50.1-percent stake in Proton is seen as a face-saving move. "Proton will always remain a national car and a source of pride, as Proton will still have a majority hold of 50.1 percent," Malaysian finance official Johari Abdul Ghani said. "Our very own much-loved brand now has a real chance in making a comeback, a huge one I hope." Related Video:

Behind the scenes of Lotus' spectacular truck-over-F1 jump

A Lotus F1 car and the truck in which it's transported may both be powered by Renault and share a common JPS livery, but as far as size and performance are concerned, they're at opposite ends of the spectrum. So if you had to jump one over the other, you'd think it'd be a no-brainer to skip the single-seater over the tractor-trailer. Right? Well that may be the more logical conclusion, but it's not the way the Lotus team and its technology partner EMC decided to go for this latest promo. Instead they jumped the semi over the grand prix car. The stunt was obviously geared towards publicity, but while they were at it, they set a Guinness World Record for the longest truck jump at 83 feet, 7 inches. The previous record, according to Guinness, stood at 50 feet, 6 inches, and was set on MTV's Nitro Circus on November 17, 2008, by Gregg Godfrey at Rocky Mountain Raceway in Salt Lake City. That record stood for six years, but (as best we can tell) was set without the trailer attached, or the F1 car tracking underneath - which only makes this latest stunt that much more impressive. You may have seen the promo clip circulating the interwebs late last week, but we've included a making-of video below as well to show how the stunt team managed to pull it all off. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. News Source: EMC via YouTube (1), (2)Tip: Joe Lotus Renault Truck Videos F1 viral video semi lotus f1 team

James Bond Lotus submarine sells in London for $966,560

With the $966,560 sale ($863,000 plus a 12-percent buyer's premium) of the white 1977 Lotus Esprit S1 submarine used in the 1977 James Bond film The Spy Who Loved Me, we now know "the Roger Moore discount."
Recall that Sean Connery's silver 1964 Goldfinger Aston Martin DB5 was sold by RM Auctions in London in 2010 for $4.6 million. Three years later, the same auction company in the same city has sold the aforementioned Lotus for just under $1 million.
An unscientific poll of those in the room showed that people preferred Sean Connery's Bond to Roger Moore's by a rate of four to one. And thus it translated into the bidding for their respective cars. No word on the identity of the buyer or his plans for what is, in fact, a working submarine.