Lotus secures future with new funding
July 20, 2013
DRB-Hicom, the owner of Lotus has signed off a three year programme which should help to revitalise the struggling firm. 

Details remain scarce at the moment, though it has been confirmed that the company has spent over £100 million trying to keep Lotus afloat and the rise in sales throughout that time has convinved the company that Lotus is worth investing in. 

Tan Sri Mohd Khamil Jamil, the DRB managing director explained that the company has cleaned up and is moving ahead. This highlighted the technical, financial, marketing and product planning issues that the firm inherited when it originally took hold of the parent company of Lotus, Proton. He went on to say that the company are coming out with the variants, based on existing products, variants with improved quality, technology and performance as well as improved costing. 

The first of these was the Lotus Exige S roadster, Jamil confirmed that the company planned to launch more variants of the Elise and Evora. Jamil said of the roadster, it is not going to sell in huge volumes, though it is a big step. He also confirmed that Lotus had sold 70 cars up untilt he end of May, as opposed to 80 throughout of the whole previous year. Production is now apparently stepping up to around 40 cars a month, with 85% of them being exported. 

It is apparently this revival that is going to underpin Vince Cable, who is the Business Secretary's willingness to sign off a £10 million investment, as part of the Regional Growth Fund. The fund is designed for new jobs and training for R&D projects. 

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