Proton Seeks to Buy 25 Percent into Renault F1 Team

Proton has for the first time confirmed plans to buy into the Renault F1 Team. Through the voice of its managing director Datuk Syed Zainal Abidin Syed Mohamed Tahir, the Malaysian carmaker hinted it is considering a 25 percent buy of the Enstone operations, and a decision on this matter will be taken shortly.

Yes, that's the intent,” he confirmed, in an interview with Malaysian newspaper The Star. “A decision will be made soon. We're close, just wait for a few days. (The) 25 per cent (shareholding) is something that we are discussing.”

However, the Proton official insisted that the aim of the agreement, if one will exist, will be for the Malaysian company to have some power over the F1 operations, not only to enter the series as a title sponsor of something related to it.

It's still too premature to disclose the exact percentage but it has to be a position where we can control our brand,” added Tahir.

Needless to say, if Proton would make a positive decision on this topic, it will become involved in F1 through their owned British sports carmaker Group Lotus. The Company is still at war with former Lotus F1 Racing Team (now called Team Lotus, according to the latest FIA entry list) over the rights to use the Lotus name in Formula One.

Most recently, Team Lotus' technical director Mike Gascoyne voiced his frustrations over this situation, revealing that he doesn't think the Norfolk based organization will get to keep the “Team Lotus” name in 2011.
If you liked the article, please follow us:  Google News icon Google News Youtube Instagram

Would you like AUTOEVOLUTION to send you notifications?

You will only receive our top stories