Simplify the following text for a Grade 8 native English-speaking person.
Original: In 1996 , a majority share in Lotus was sold to Perusahaan Otomobil Nasional Bhd ( Proton ) , a Malaysian car company listed on the Kuala Lumpur Stock Exchange .
Simplified: In 1996 , a majority share in Lotus was sold to Proton , a Malaysian car company .