Lotus Group not for sale, say owners

DRB-Hicom said it was still supporting Lotus "both financially and management-wise"

The owners of Lotus have said they have not decided to sell the Norfolk-based sports car maker.

DRB-Hicom said it was currently undertaking an operations audit on Lotus, but did not know the source of speculation that it was selling the brand to China's Youngman.

It also denied that it would put Lotus in administration, following a similar denial by Lotus earlier this month.

Lotus is owned by Proton, a subsidiary of Malaysian group DRB-Hicom.

In a statement, DRB-Hicom said that it was still supporting Lotus Group "both financially and management-wise".

It added: "As of today, DRB-Hicom has identified one of Proton's senior management personnel to take up a position in Lotus Group in an effort to strengthen its management."