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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:

Future Classic: 2008-2013 Volvo C30

Volvo has a storied reputation of building cars that are safe and solid – vehicles that are as cherished for their function-over-form designs as they are their mechanical longevity. But Volvo is also low-key cool. The Swedish carmaker is beloved by enthusiasts for its commitment to offering wagons, and for its many motorsports efforts. Flying brick, anyone? That coolness doesnÂ’t always trickle down to VolvoÂ’s road cars, but every now and then, the company gives us something a little weird. And in the mid-2000s, Volvo introduced the C30: a two-door hatchback geared towards younger, hipper buyers. Was the C30 a luxury compact? A hot hatch? Nah, it didnÂ’t really fit either vibe. Still, the C30 was nevertheless cute and quirky, and compared to other Volvos of the era, it was truly one of a kind. Why is the Volvo C30 a future classic? The C30 rode on the same platform as the S40 sedan and V50 wagon (as well as the contemporary Mazda 3 and EuropeÂ’s second-generation Ford Focus), but had way more personality than both. VolvoÂ’s hallmark tall taillights flanked a huge piece of glass that extended from the roofline to the bumper, serving as the C30Â’s hatch. Of course, this expansive window also meant the items in the cargo area were readily on display, making them an easy target for smash-and-grab thefts. A range of powertrains were available around the world, including diesel engines and even a super-limited-production electric variant. In the U.S., however, we only got the T5 gas engine, which in its standard form produced a 2.5-liter turbocharged inline-5 with 227 horsepower and 236 pound-feet of torque (more on the not-so-standard form later). You could get a six-speed manual transmission, which wasnÂ’t a terribly engaging gearbox, but was still more fun than the five-speed automatic. With the C30, Volvo put an emphasis on the hatchbackÂ’s ability to pump up the jams. An optional Premium Sound package had 10 Dynaudio speakers, an Alpine subwoofer and Dolby Pro Logic II surround. This setup could even play CDs with MP3 and WMA files, and included an AUX jack for things like iPods. Archaic technology by today's standards, but in the 2000s, this was clutch. 2013 Volvo C30 R-Design Polestar Limited Edition View 12 Photos What is the ideal example of the Volvo C30? One word: Polestar. In 2012, Volvo introduced a limited-edition C30 Polestar, only 250 of which were sold in the United States.

Editors’ Picks February 2023 | Audi RS 3, electric G80 and a longtime favorite

In this month’s set of EditorsÂ’ Picks, we see a wide variety of vehicles earn our recommended status. The Audi RS 3 is a truly stellar sedan with a killer engine, great handling and still enough comfort for daily use. Genesis finds its way onto the list again with its electric version of the G80 midsize sedan, and VolvoÂ’s XC90 still charms after all these years. In case you missed our previous Editors' Picks posts, hereÂ’s a quick refresher on whatÂ’s going on here. We rate all the new cars we drive with a 1-10 score. Cars that are exemplary in their respective segments get an EditorsÂ’ Pick designation. Those are the ones weÂ’d recommend to our friends, family and anybody whoÂ’s curious and asks the question. The list that youÂ’ll find below consists of every car we rated in January that earned an EditorsÂ’ Pick. 2023 Audi RS 3 Quick take: The Audi RS 3 keeps the passion alive with a superb sounding 5-cylinder engine and a torque-vectoring rear differential that massively ups the handling fun. Its interior is a little bland, but it's still a handsome Audi on the outside. Score: 8.0 What it competes with: Mercedes-AMG CLA 45, BMW M240i, Cadillac CT4-V Blackwing, VW Golf R Pros: Epic engine sound, fun AWD system, great handling and acceleration, attractive exterior styling Cons: Interior doesn't pop, expensive for its size From the editors: Road Test Editor Zac Palmer — "If you love a special engine, the Audi RS 3 is a car for you. Few powertrains sound and feel as special as the 5-cylinder engine in the RS 3, and the ferocity with which it accelerates will have you laughing your head off with every pull. The sheer performance out of this little machine is extraordinary, and I'd recommend it to anybody shopping for a small, luxury sports car daily. All that said, I wish Audi could've sorted out better steering and a suitable interior. As-is, both of those factors are negatives in a car that is almost all upside." In-depth analysis: 2023 Audi RS 3 First Drive Review: To hell with business cases   2023 Volvo XC90 2022 Volvo XC90 Recharge View 15 Photos Quick take: The XC90 may be old now, but key updates and a timeless design ensure it's competitive as ever. The Scandinavian interior design appeal has never faded, and now the Google-based infotainment system is fresh and snappy. Even the Recharge PHEV is an awesome alternative with great range and strong electric motor.