New Lotus CEO Dany Bahar plans to build on the Hethel firm’s strong heritage to bring it back to successes enjoyed in the 1970s.

Bahar, who recently joined the firm from Ferrari, said the Lotus name had massive potential and its strengths lied in its iconic brand, its long history in car-racing and its reputation as a manufacturer of exciting, innovative and light sports cars.

“Lotus was mentioned in the same sentence as Ferrari, Lamborghini and Maserati in the 1970s-1990s,” he told Malaysian reporters. “Then, it got closed into a corner. We believe it's the right time to bring Lotus back to where it was.

“Success is not to always think in one direction but about innovative technology and super efficiency.”

He added that he would be working on a new business plan to take Lotus back to the top alongside companies such as Ferrari within the next three to five years as a "top priority".

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