Lotus has now became part of Gely. The Chinese brand payed 65 million USD for the British sports car manufacturer. Now, Geely has a 51-percent stake in the firm while the guys from Etika Automotive controls the remaining 49 percent.
Volvo knows that the future of automotive industry is based on the technology you find in your car and on how green your car will be. So together with its parent company, Geely, Volvo completed the formation of two new entities to share existing and future technology and provide the economies of scale that will allow them to more rapidly develop next generation electrified vehicle technology.
After taking over Volvo, three years ago, Geely tried to become a serious manufacturer, who refuss to copy European cars design, creating instead its own philosophy.