DRB-Hicom has acquired Symphony Lotus Ltd, China Lotus dealership worth RM47.25 million, a move which tighten its control not only on the marketing of Lotus car in China, but also on the quality and delivery of the product over there. This is to ensure a strengthening of Lotus presence in China which is lucrative market with 21 million cars sold annually.
On June 11, DRB-HICOM, via its unit, Lotus Advance Technologies Sdn Bhd, signed a conditional share sale and purchase agreement with Symphony Lotus for the proposed acquisition. Symphony Lotus has one wholly-owned subsidiary, Beijing Lotus Cars Sales Co Ltd, which is a distributor of vehicles and wholesaler of car parts in China.
DRB-Hicom now has a bussiness in China, especially after the takeover of PETRONAS engine family at the end of last year. One of the engine in the package, the NE01 has been developed spesifically to be manufactured in China based on the deal made years before the takeover. The rest of the engine, including the old E01 and several other smaller engine are yet to enter the production phase if ever.
P/S: I heard that NE01 not only being packaged into Proton cars, but also undergoing certain feasibility study to be fitted to Lotus bay. I wonder about the logistic, as the engine is well in progress to be manufactured and assembled in China.