Currently reading: Lotus receives £10m grant for new models
New Government grant secures Lotus' future, as the brand creates new jobs and outlines plans for new models
Darren Moss
News
1 min read
25 November 2013

Lotus has been awarded £10.44m from the Government's Regional Growth Fund which will fund development of new models and create 313 new jobs.

The grant is the second influx of funding for Lotus this year, after owners DRB-HICOM announced it would provide £100million to grow Lotus' "engineering, productivity, efficiency and quality". DRB's funding came as part of a new three-year plan to revitalise the struggling firm.

Part of the Lotus strategy is understood to focus on new variants of existing products. Current models including the Exige, Evora and Elise will be used to launch special editions. The most recent of these is the Lotus Exige V6 Cup.

Lotus boss Aslam Farikullah said: "This grant is part of a wider strategy for Lotus created to ensure we thrive and grow. We are responding to increased global demand for our cars and engineering consultancy services and this grant will help to position Lotus at the forefront of global automotive innovation.

“We have very exciting plans for our sports cars and it’s a very positive move for Lotus that we’re in a position to create new jobs and to significantly contribute to Britain’s automotive industry. 

“The team here at Lotus have worked very hard to secure this grant and every employee is playing their part in the stability, growth and future success of our company.”

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Soren Lorenson 29 November 2013

Lotus Already Has the Car

Lotus already has the car to give them the Boxter moment...it's called the Evora. They just need to sell them for £10K less than Porsche sells its Boxter.
Cobnapint 26 November 2013

Out of sight, out of mind

With just 14 dealerships across the UK (one of which is in Jersey) Lotus aren't exactly in the public's line of sight anymore, and are only in the minds of a relative few enthusiasts who want something a bit different, and prefer a more back to basics true driving experience. Most other people are more likely to see a Porsche dealership on their outer ring-road, and will therefore feel more inclined to pop in and sniff the leather in a well appointed Boxster or Cayman rather than to travel and sniff the plastic in a Lotus. And unless Lotus do something truly radical and move into a more daily driver orientated SUV type thing, then that status quo will, I'm afraid, remain.
johnfaganwilliams 26 November 2013

Day late and.....

about £500m short to make any difference at all. Typical government half-arsed interference. Won't make any difference at all to Lotus and the money - if this is all there is - should have been spent somewhere where someone, anyone, might have seen its impact. Pathetic.

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