Lotus hasn’t been in the best of situations for a while now. Its last new mainstream car was the Evora, and that launched in 2009. In the first seven months of 2018, Lotus sold only 145 new cars, a 25 per cent drop year-on-year. Things took a turn for the better when Chinese giant Geely bought the brand earlier this year, and now it looks like a hefty cash injection will bring Lotus back from the brink.
A new report is claiming Geely is considering investing around $US1.9 billion in the company. It is also looking at increasing its stake in Lotus, currently standing at 51 per cent. The remainder is owned by Malaysia’s Etika Automotive.
Plans for Lotus include expanding the Hethel plant and employing 200 new staff members. A second facility could be added elsewhere in the UK, while a new design and innovation centre will be opened in Coventry.
By the end of it all, Geely wants Lotus to be a credible rival to Ferrari and Porsche. The company’s chairman, Li Shufu, has said previously he aims to make both Lotus and Proton profitable with sustainable growth while having both brands embrace new technologies. Closer ties with the likes of Volvo and Mercedes-Benz should help ease that path.