In a deal eclipsing $410 million, DRB-Hicom purchased a 43 percent stake in Proton, a Malaysian automaker better known for its ownership of the famous British sports car brand, Lotus.
Originally, the stake belonged to Malaysia's state-owned Khazanah Nasional Bhd. However, as Proton has not made a profit in the last two years, multiple prospective buyers stepped in for acquisition talks before the controlling stake was finally approved for DRB-Hicom, a large conglomerate with a hand in automotive services, transport, and power generation.
This investment effectively hands DRB-Hicom the control of two Malaysian car plants that are capable of producing a combined 350,000 vehicles a year. This production number may increase in the future as General Motors just reached out to Proton last month about a possible manufacturing joint venture in Malaysia so that GM could gain better access into the Southeast Asian market. The talks are not yet complete and it will be interesting to see what effects DRB-Hicom will have in the discussions.
What's more, DRB-Hicom is also the new private owner of Lotus. Unfortunately, this change puts the future of Lotus into question. Lotus has not been able to make a profit for Proton since 1996, an equities investor suggested that all or part of Lotus would likely be sold. Among those interested in Lotus is Genii Capital, a part owner of Lotus Renault GP.
Japan's aftermarket auto parts and racing expo, the Tokyo Auto Salon features displays by all major domestic automakers including Honda, Toyota, Nissan, Mazda and Subaru. Tuners from NISMO to TRD and Mugen display their latest products and point to the future of the Japanese tuner industry. The 2012 show promises to be a big one, thanks to the debut of the Toyota GT 86 and Subaru BRZ.
For some of the more minor auto shows, a Top 10 list of the most important cars often covers most of the new debuts, but not so at the North American International Auto Show. Held each January in Detroit it's the obvious launch site for major products by the Big Three domestic automakers and over the years has also become the venue for important new models by the rest of the auto industry.
Domestics made their mark at this year's Detroit show, starting with one very different concept car revealed by Chevrolet. Called the Tru 140S it may look like some outrageously fast and expensive exotic machine, but it's neither. Based on the same front-drive platform as the Chevy Cruze, it is powered by the same 1.4-liter turbocharged 4-cylinder, which makes just 138 hp in that car. Designed, along with the Code 130R concept, as part of an initiative to attract youth buyers back to the brand, Chevy seems serious about the concept, even announcing that if it made production, the target price would be around the $20,000 mark.
It's the first auto show of every year and it's always a big one. The Detroit Auto Show, officially the North American International Auto Show, takes place from January 14-22, preceded by several private days, including the press preview on January 9th and 10th. Notable debuts at this year's event include the Scion FR-S and Subaru BRZ in US-spec trim, the Cadillac ATS, a new Dodge compact car and even a hybrid version of the Jetta.
Every year an automaker is chosen to be celebrated at the Goodwood Festival of Speed with an artistic installation directly in front of the historic Goodwood house in West Sussex, England, and a host of classic and shiny new cars on display. For 2012 it will be the iconic English brand Lotus.
This acknowledgement comes at important time in Lotus' history, both when looking into the future and consulting the past. In 2012 Lotus will celebrate the 50th anniversary of the Elan sportscar, the 40th anniversary of the Espirit supercar concept unveiling, the 35th anniversary of the 78 ground effect Lotus F1 car competing for the first time and the 20th anniversary of cyclist Chris Boardman winning a gold medal at the Barcelona summer Olympics while riding the type 108 bicycle developed by Lotus. Next year will mark a big year in the company's history as well, when the new 2013 Espirit supercar is finally unleashed.
The Goodwood festival's chosen Marque is always an honor that is bestowed upon a company the organizers feel have had a major influence on car culture and automotive history. Some of the companies that have been celebrated include Jaguar, Audi, Alfa Romeo, and Land Rover just to name a few.
The 2012 Goodwood Festival of Speed begins on June 28 and should be a great celebration of Lotus' past accomplishments and future endeavors.
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