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Norfolk carmaker Lotus sold to Chinese Volvo owner Geely in £51m deal

The purchase is part of a deal by Geely to buy a 49.9% stake in Malaysian carmaker Proton and 51% in Lotus.

Lotus has a team of 750 employees at Hethel on the Cambridge Norwich Tech Corridor – and its local supply chain supports around another 750 roles.

Julian Munson, Head of Enterprise Zones & Innovation at New Anglia Local Enterprise Partnership, told the EDP that Lotus is: “a major driver in the local economy” and “we look forward to building a relationship with Geely Holdings to help realise the full potential of the Lotus operation here in Norfolk, building on its important local heritage and looking forward to an exciting future for the company.”

Both parties expect to sign the definitive agreement in July 2017.

Read the full EDP story here