The New Straits Times (Bangkok) - Proton Holdings Bhd, the subsidiary of DRB-Hicom Bhd, said that Lotus, its loss-making United Kingdom-based subsidiary, is not for sale and that the group is in the midst of completing its turnaround plans for the British sports car maker.
Proton's deputy chief executive officer Datuk Lukman Ibrahim said the group was looking at reconsolidating its presence in the UK, including trying to synergise the two brands -- Lotus and Proton -- with the hopes of making a comeback to the UK market.
"Lotus is for us to keep and for us to improve. It's still there and it will be there," he said at the Thailand International Motor Show here last week.
He said Proton was in the midst of realigning those in Lotus to the group's requirements following the departure of former Lotus chief executive officer Danny Bahar in May.
"We have also brought in people from Proton as well as DRB-Hicom to carry out important tasks. Rest assured, Lotus is on the right track.
"The question is how fast we get Lotus to be up to speed in terms of recovery and so on."
In Malaysia, for example, he said the group had set up Lotus Car Malaysia, which will open its 4S centre, the first of its kind in the country, this month.
Talks of Lotus being sold had surfaced after DRB-Hicom acquired a controlling stake in Proton earlier this year. Proton has owned Lotus since 1996.
In late 2010, Proton revealed that it was committed to turning Lotus around with a five-year business transformation plan that cost RM2.37 billion, a feat that has since been a drag on the company's earnings.
On Proton's plan to make a comeback to UK market, Lukman said the group viewed the UK market as important for Proton.
With the launch of the Proton Preve and Proton Exora in Thailand and Australia, Lukman said the national carmaker's position would be strengthened in these two markets as well as globally.
"For the UK market, we plan to make a comeback next year. Hopefully, in the second half of next year, our products will be ready for that market."
