The Malaysian government has reach a deal to sell a 42.7% stake in Proton to DRB-Hicom for approximately $411.9 (€325.8 / £269.2) million.

The Malaysian government has reach a deal to sell a 42.7% stake in Proton to DRB-Hicom for approximately $411.9 (€325.8 / £269.2) million.

While the Malaysian-based firm isn't a household name, they're not strangers to the automotive industry as they assemble and distribute vehicles from Volkswagen and Mercedes.

In a statement, DRB-Hicom's Group Managing Director Dato' Sri Haji Mohd Khamil Jamil said "The utmost priority for DRB-HICOM at this juncture is to put into action and realize the workable business model for Proton." The company's press release explains this will include product renewal and enhancement as well as the introduction of hybrid and electric vehicles.

The future of Lotus, however, remains unclear. Investors have been pushing for a sale and Lotus needs a significant capital infusion to ensure their ambitious product plan - which includes models like the Elan, Esprit and Elite - actually comes to fruition.

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