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Geely Mulls $1.9 Billion Revival Plan for Lotus Cars

Yan Zhang, Haze Fan
Geely Mulls $1.9 Billion Revival Plan for Lotus Cars

The Chinese owner of Lotus Cars is considering an investment of at least 1.5 billion pounds ($1.9 billion) to revive the iconic British brand featured in James Bond movies, according to people familiar with the matter. Zhejiang Geely Holding Group Co., which also controls Volvo Car Group, plans to add production facilities and research centers for Lotus Cars in the U.K., one of the people said, asking not to be identified because the deliberations are private. Geely is also in talks to increase its 51 percent stake in Lotus with its Malaysian partner Etika Automotive Sdn Bhd., which holds the remainder, another person said.