According to foreign media reports on March 22, Geely recently withdrew its offer for the acquisition of Malaysian automaker Proton (Lotus Parent Company). The participating bidders currently only have a French Peugeot Citroen family.
Anglihui, president of Zhejiang Geely Holding Group, confirmed on the 22nd that he had withdrawn the majority share purchase proposal for Proton, but did not disclose the reasons for the withdrawal of the bid. Li Shufu, chairman of Geely Automobile, said in an interview with Bloomberg earlier this month that Proton frequently changed its business plan and “does not know what you wantâ€. Geely is considering withdrawing from the bid.
An Conghui said that Geely has a clear strategic plan. If the transaction does not meet Geely's plan, the company will not cooperate with Proton. Before the exit, Geely was considered by the outside world to be the most likely bidder to successfully acquire, and was also very interested in the technology and engineering of the Quantum's Lotus.
At this point, the participating bidders are currently only the French Peugeot Citroen family. If the transaction is successful, it will help the PSA to open the Southeast Asian market. The car sold by the Proton car in the ASEAN region enjoys the tax exemption policy. Proton's annual production is between 400,000 and 600,000 units. Last year, the annual sales volume was 120,000.
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