PSA Peugeot-Citroen has confirmed that an offer was made to purchase the Malaysian manufacturer Proton, which owns the Lotus brand, in addition to the intention to buy Opel from General Motors.
PSA Peugeot-Citroen took the auto industry by surprise after he recently announced that it is negotiating the purchase of Opel from General Motors, but working alongside French and another expansion plan.
This time Asian market is concerned, since PSA made an offer for the Malaysian manufacturer Proton, which owns the British brand Lotus. “PSA made an offer and is willing to go further. At this time we have no further comment,” said a spokesman for the group.
Currently, the European market is the most important sales PSA Group and Proton acquisition would allow the manufacturer to expand in Asia, given that sales in China have become very important for many other European producers.
Thus, PSA could use Proton factories for production and export to countries in Southeast Asia. Currently, Proton has an annual production capacity estimated at 400,000-600,000 units, even if malaysians can’t produce more than 100,000 cars per year.
On the other hand, there is speculation that PSA could even launch a low-cost brand for Asian market as ready to proceed and the Volkswagen Group since 2019.
In the fight for Proton, PSA will have to defeat an offer but competition from the Chinese Zhejiang Geely Holding Group from which wants to buy the manufacturer specifically to nab Lotus brand.
PSA Peugeot-Citroen via Automotive News