Lotus is a company wholly owned by Proton and Proton hope to transform Lotus before it’ll become non profitable.Read the full news from Bernama below.
PROTON PLAN TO TRANSFORM GROUP LOTUS WITHIN 5 YEARS
SHAH ALAM, — Proton Holdings Bhd hopes to transform Group Lotus Plc into a profitable company under its five-year transformation plan, chairman Datuk Mohd Nadzmi Mohd Salleh said Tuesday.
“This is a start of new phase for Proton and it is not a lip service but real. Lotus has been with Proton for almost a decade,” he told a media briefing here on the new management team for Group Lotus.
“At one of the board meetings, I was thinking of turning around the company (Group Lotus) as before it was not profitable,” he said.
Proton’s group managing director Datuk Syed Zainal Abidin Syed Mohamed Tahir said one of the main strategies under the five-year plan was entering into a premium sports car segment alongside Porsche and Ferrari.
Under the plan, he said Group Lotus targeted to have the best car in class products across the key luxury sports car segment with unparalleled brand experience, sales and after-sales service, efficiency and high quality product.
It also targeted to increased product volume to 8,000 units per annum by 2015 from the current 2,000 units per annum, he added.
Currently, Group Lotus has presence in 30 markets worldwide with another 25 potential markets to tap into.
Moving forward, Syed Zainal Abidin said Proton could be better with the stronger bond with Lotus.
According to him, the Proton-Lotus relationship will benefit both parties in terms of producing a better car with better brand awareness, thus increasing revenue and profit.
It will provide Proton assistance in making products of the future with better value, he said.
On the new management team, Syed Zainal Abidin said Dany Bahar was appointed on Oct 1, 2009, as the new chief executive officer for Group Lotus.
He said the new management team consisted of experienced personnel from the luxury car industry, namely Porsche, Ferrari, Aston Martin and Fiat Group.