Chinese automotive firm Zhejiang Geely Holding Group Co Ltd's main aim was Lotus when it acquired a substantial stake in Proton, which owns the British marque.
Disclosing this, Second Minister for International Trade and Industry Ong Ka Chuan also described Geely as a “gentleman”.
He said this is because the firm settled for a 49.9 percent stake and not a majority interest in order to allow Proton to remain as Malaysia's national car.
Though its interest was in Lotus, the MCA secretary-general believes that Proton would also benefit in the process.
He said Geely could assist Proton to penetrate the international market by upgrading the car's standards, and this in turn, would create more employment opportunities.
Ong said Malaysia also hopes to enter the Chinese market through Geely.
“You can say whatever, but Proton didn’t lose (as a result of this deal). It was making losses, and if the bleeding does not stop or if Geely did not come in, Proton could not be sustained.
“Geely has advanced technology. Before acquiring a stake in Proton, the company acquired Volvo and the London Taxi,” he was quoted as saying by Kwong Wah Yit Poh.
The deal with DRB-Hicom would see Geely acquiring a 51 percent stake in Lotus.
Former premier Dr Mahathir Mohamad had criticised the deal, claiming that national interests are being sold off to foreigners.
He also claimed to have shed tears over the loss of his brainchild.- Mkini
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