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China's Geely buying majority stake in Lotus

Geely, the Hong Kong car company that owns Volvo, is acquiring control of British car company Lotus. Geely is purchasing a 51-percent stake in Lotus from struggling Malaysian car company Proton, and a 49.9 percent stake in Proton itself. Etika Automotive will gain the other 49 percent of Lotus. France's PSA Group and Japan's Suzuki had apparently also been interested in acquiring Proton. Geely says it plans to revive both Proton and Lotus. "The agreement lays the foundation for a wider framework for both Geely Holding, Proton and Lotus to explore joint synergies in areas such as research and development, manufacturing and market presence," Geely said in a news release. Those joint synergies will be highlighted by the lightweight chassis technology Lotus is known for, which could help Geely improve fuel efficiency. Geely CFO Daniel Donghui Li said the company aims to "unleash the full potential of Lotus Cars" by expanding and accelerating new products and technologies. Proton was nationally held but was privatized in 2007 to Malaysian conglomerate DRB-Hicom, which is owned by tycoon Syed Mokhtar Al-Bukhary. It was supposed to be the flagship for Malaysia's economic development.Though it owns two factories, Proton mainly rebadges foreign-made cars and sells them in Malaysia. What it has, what Geely presumably wants, is a distribution network in Southeast Asia to pit Chinese cars against Japanese automotive dominance in the region. Retaining a 50.1-percent stake in Proton is seen as a face-saving move. "Proton will always remain a national car and a source of pride, as Proton will still have a majority hold of 50.1 percent," Malaysian finance official Johari Abdul Ghani said. "Our very own much-loved brand now has a real chance in making a comeback, a huge one I hope." Related Video:

Volvo XC90 prototype spied for the first time ever

Despite its advanced age, the Volvo XC90 remains a highly competent luxury SUV. The design has aged nicely, and it's clear from the Insurance Institute of Highway Safety naming the big Volvo a Top Safety Pick + that the safety-minded Swedes behind it knew what they were doing. Still, even the finest cars need replacing, especially after nearly 12 years on sale.
Here we have the first spy shots of the next-generation XC90, under development somewhere cold (at this rate, it could be anywhere from Arvidsjaur to Atlanta). Now, as our spy photogs point out, this is the real deal, judging by all that camo over the vehicle. There's a production body under there, rather than this being a mule with the old vehicle's skin on top of it.
It's difficult to make out much because of all the camo, although there are some similarities to both the Concept XC Coupe from the Detroit Auto Show and a batch of teaser images we showed you earlier this year. We can see the greenhouse retains a shape similar to the current XC90, although the beltline climbs rather aggressively once past the C pillar, much like it does on the Concept XC Coupe. In back, Volvo has eschewed tall, vertical lights in favor of more conventional units, which we expect to be similar to what we saw in the teaser images. We'd bargain that there will be a traditional rectangular grille, like what you can see on the concept. The headlights, meanwhile, should wear T-shaped LED elements, like the teaser images.

Nissan Frontier and a mid-engine Mustang | Autoblog Podcast #622

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale and Associate Editor Byron Hurd. They discuss news about the 2020 and 2021 Nissan Frontier, as well as a mystery Mustang and classic luxury coupes. After that, they talk about cars from the fleet including Chevy Silverados and the long-term Volvo S60 T8. Autoblog Podcast #622 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2020 and 2021 Nissan Frontier updates 1966 mid-engine Mustang prototype Personal luxury coupes Cars we're driving 2020 Chevy Silverado 1500 Trail Boss 2020 Chevy Silverado 2500 HD 2020 Volvo S60 T8 plug-in hybrid Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: