Currently reading: Geely plans £1.5 billion investment in Lotus
Chinese company is aiming to achieve Porsche-like status for Lotus with huge investment; it bought the British sports car maker in 2017
Jimi Beckwith
News
2 mins read
9 August 2018

New Lotus owner Geely is planning a £1.5 billion-plus investment in the brand, in its attempt to push the small British manufacturer into the big leagues of sports car production. 

Geely’s plan includes increasing its 51% stake in Lotus, which would mean buying more from Malaysian co-owner Etika Automotive. 

A new design centre in Coventry is planned for Lotus, as is growth of the brand’s Hethel headquarters, with 200 new engineers due to be hired. After this, another Midlands-based plant will handle the expanded production as the brand grows. 

This is in addition to a new factory in China that the brand would use to cater for demand in the Far East. Geely boss Li Shufu reiterated the brand’s commitment to the UK, though, saying: "This is just like what we have done with the London Taxi Company: engineer in Britain, design in Britain and built in Britain. We see no reason to move fifty years of combined experience to China; let them do what they do best, in Britain.”

Geely stated in an email to Bloomberg that it is “fully committed to restoring Lotus into being a leading global luxury brand". It’s thought that the firm has the likes of Porsche in its sights for Lotus’s new market position. The brand's first move into Porsche-like territory will be an SUV, due in 2020.

Li's plan to turn his company into a major global player is one of the industry’s most aggressive; shortly after acquiring Lotus and a 49.9% stake in parent company Proton, Geely spent £6.4 billion acquiring almost 10% of Mercedes-Benz's parent company, Daimler, becoming its largest single shareholder. 

Read more:

Lotus owner Geely plans SUV and cars to rival Ferrari

Geely buys Lotus, stake in Proton

Geely rules out buying more Daimler shares 'for the time being'

Lotus production to continue in Norfolk, could also begin in China, says Geely owner

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mesumguy 10 August 2018

Geeley

I actually drove a Geeley car and I am surprised that they have not marketed them. In Europe and America the perceived quality is there. If lotus cannot succeed under their stewardship. Time to burn the operations and collect the insurance money.

lambo1 10 August 2018

Blundering from one crisis to

Blundering from one crisis to another

This time with Chinese money

Lol

rcoop82 10 August 2018

LTI got a new expanded facility in Coventry

Lotus certainly will use LTI facility that was built by Geely to increase its production, only reason why.

As with the LTI that now uses Volvo engines - the 1.5 liter 3 cylinder from the XC40, can we expect Lotus dropping the use of Toyota units (1.8 pot-four for Elise/Exige and V6 for Evora) and move to Volvos too? The 2.5 liter 5 cylinder used in the 850R and MK2 Focus ST/RS is still one of the best in the market and pretty sure could find some use by Lotus...

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