Lotus Cars has secured enough investment from its new Malaysian owner, the automotive giant DRB-Hicom, to restore full car production at its Hethel assembly plant in the next few days, and continue build-up to the launch of the first of its new-wave models, the Esprit supercar due in showrooms before the end of 2013.
A four-model, five-year plan devised by CEO Dany Bahar has had to be amended because a 60-day financial “freeze”, a routine occurrence when Malaysian firms sell major assets, has interrupted the flow of agreed development funds and introduced considerable production delays.
The resumption means that from beginning of May Lotus should be making Elises, Exiges and Evoras at a combined rate of 44 cars a week, and will be continuing to to spend on the development of the Esprit, especially its own-design V8 engine and novel automated manual transmission.
Other new models proposed beyond Esprit remain in abeyance for the time being but Lotus expects to launch at least three improved versions of existing models in time for this year’s Goodwood Festival of Speed, late in June, where it is this year’s “chosen” marque. The company celebrates its 60th anniversary this year, as well as the 50th anniversary of the launch of the first Lotus Elan.
Bahar vehemently denies recent assertions made during a recent parliamentary debate by local MP, Richard Bacon, that the business consultancy KPMG has been tasked with finding a buyer for the company in China.
“It’s just not true,” he says. “There is no fire sale, no selling process and no bidding. If there were, lots of strange people would be here doing inspections and due diligence, but there is nobody. Besides, I have no authority to sell the company. That’s a job for the shareholders. I am just an employee.”
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giulivo
Re: Lotus to restore full car production
[quote Autocar]Esprits, Exiges and Evoras at[/quote] they obviously mean Elise, not Esprit
[quote Autocar]especially its own-design V8 engine [/quote]
Oh my goodness, let it not be true
[quote Autocar]and novel automated manual transmission[/quote] Is that what die-hard Lotus fans crave after?
Symanski
Re: Lotus to restore full car production
"The resumption means that from beginning of May Lotus should be making Esprits, Exiges and Evoras at a combined rate of 44 cars a week,"
Wow, they're building Esprits already? That was a quick development! ;-)
At least this story brings some clarity. The bold plan seems to have been cut back to just the Esprit, and investment continues. In other words it's being run and will be sold off as a going concern at a later date.
That doesn't mean that's a bad move - a new owner may have a better idea of what Lotus should be than Proton ever did!
mrcliodCi
Re: Lotus to restore full car production
Good news and fingers crossed. Such an iconic brand doesn't need to be messed around so much.
kcrally
Re: Lotus to restore full car production
so nothing happened.
www.KOOOLcr.com
disco.stu
Re: Lotus to restore full car production
[quote Autocar]novel automated manual transmission[/quote]
What's so novel about it? Automated manuals have been around since the Ferrari F355 of 1995, so either they're 20 years late to the party or are doing something new.
www.TheCarExpert.co.uk
disco.stu
Re: Lotus to restore full car production
[quote Symanski]
At least this story brings some clarity. The bold plan seems to have been cut back to just the Esprit, and investment continues. In other words it's being run and will be sold off as a going concern at a later date. [/quote]
Agreed. I don't want to always sound negative about Lotus, but it doesn't sound like a ringing endorsement from the new owners. The sale stroy is going to run for quite a while yet, I feel.
www.TheCarExpert.co.uk
The Colonel
Re: Lotus to restore full car production
[quote disco.stu]
[quote Autocar]novel automated manual transmission[/quote]
What's so novel about it? .
[/quote]
Ah. You misunderstood. What they mean is they're going to write a book about it. To sell in their shop. In Regent Street...what's going on with that?
eseaton
Re: Lotus to restore full car production
Good news is good news. And this is good news.
If anyone seriously wishes Lotus ill, what are you doing reading this web site?
Imagine working for Lotus and reading some of the snide comments that are made about its products, and by implication, the skills and abilities of the work force. It is just nasty and rude.
Anyone who enjoys cars in themselves, rather than as practical appliances or statements of social compliance, owes a very great deal to the spirit of Lotus.
ThwartedEfforts
Re: Lotus to restore full car production
I've always secretly hankered after an Evora, having had a brief trip some time ago when the car revealed itself to genuinely have that legendary ride/handling balance at which motoring hacks had been marvelling - basically, it went round corners like the proverbial, ate up all the bumps yet you still felt in touch with the road. However, the recent shenanigans means I probably won't ever buy one.
Symanski
Re: Lotus to restore full car production
[quote disco.stu]Agreed. I don't want to always sound negative about Lotus, but it doesn't sound like a ringing endorsement from the new owners.[/quote]
Some people may confuse what we say as being negative rather than us wanting the absolute best for Lotus. I want to see Lotus bring out cars which are genuine world leaders in style, performance, and "want a poster of it on my wall" factor.
When I was a child I had pictures of Esprits on my wall. I didn't have any Ferraris, I had a Lotus.
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