THE Chinese owner of Lotus Cars is considering an investment of at least US$1.9 billion to revive the iconic British brand featured in James Bond movies, according to sources familiar with the matter.

Zhejiang Geely Holding Group Co., which also controls Volvo Car Group, plans to add production facilities and research centers for Lotus Cars in the United Kingdom, one of the sources said. Geely is also in talks to increase its 51-percent stake in Lotus with its Malaysian partner Etika Automotive Sdn Bhd, which holds the remainder, another source said.

“Geely is fully committed to restoring Lotus into being a leading global luxury brand,” the automaker said in an email, declining to comment further.

The investment plan is part of billionaire Li Shufu’s grand vision to take Geely to the forefront of the auto industry rivalling Toyota Motor Corp. and Volkswagen AG. Li’s group acquired Volvo in 2010 and spent more than US$11 billion to modernize its factories and help turn around the Swedish brand.

In February, Li emerged to be the biggest shareholder in German luxury-car maker Daimler AG with an almost 10-percent stake.(SD-Agencies)