Report: Proton, Lotus near collapse

Proton will collapse unless it finds an international partner such as Volkswagen, said Mahathir Mohamad, who founded the Malaysia-based company twenty years ago. "At the rate it is going, it's not going to last long," Mahathir told Bloomberg. While Proton cars are not sold here in North America, they are sold in the United Kingdom, South Africa and Australia.

Perhaps more important to car enthusiasts, however, is the future of Lotus, which Proton acquired in 1996. Just three weeks ago, Proton said it would not consider selling Lotus, even if the financial situation worsens.

One possible partner for Proton/Lotus is Volkswagen, which Mahathir says is still willing to talk. VW has reportedly said it does not want control of the company. Interestingly, Volkswagen was said to be collaborating with Lotus on the now-cancelled GX3 three-wheeler.