Lotus Cars Finally Sold

11/14/96

Proton, the Malaysian auto maker headed up by Yahaya Ahmad, has announced that it has purchased the beleaguered Lotus car company from Romano Artioli. Artioli has been trying to peddle the sports car company for two years. Proton paid $83.4 million for their 80% share in the company. Colin Chapman founded Lotus, and it has a rich racing heritage.

Lotus has 800 employees and does contract work for GM, Daewoo, and Rover. The first order of business is to get some cars out the door. Analysts expect the sleek Lotus Elise two-seater to hit the streets first.

Bill Maloney -- The Auto Channel