Geely plans £1.5bn Lotus investment
New factories, more staff and more cars due in Geely's great Lotus vision
If news of ambitious Lotus expansion plans leaves you feeling a wee bit cynical, then we understand. The brand's tumultuous recent history is almost an object lesson in how not to resuscitate a low volume sports car maker. But the news of new owners Geely setting aside more than £1.5bn for investment in Hethel, as well as plants further afield, is surely good news given the Chinese firm's own track record.
The ideas, apparently sent to Bloomberg and picked up by Autocar, include upping its current 51% stake in Lotus, creating a new design centre in Coventry, building a factory in the Midlands and bringing 200 new engineers to Hethel.
As if that wasn't enough, the Autocar story is also suggesting that a Lotus factory will be built in China to handle demand from the Far East. However, as if pre-empting the fears of the Lotus faithful, Geely boss Li Shufu said the brand is very much still focused on the UK: "We see no reason to move fifty years of combined experience to China; let them do what they do best, in Britain."
Shufu, it must be said, does not have a history of empty rhetoric. His ambitions for Lotus are tied into his ambitions for Geely, and that entails nothing less than turning it into a full-scale global manufacturer - one big enough to challenge the established players in Europe and Japan. And if that sounds like a pinch-of-salt statement, it's worth pointing out that Geely is also Daimler's biggest single shareholder - a stake which cost it a cool £6.4 billion.
So what is the grand Geely vision for Lotus? Well there are no plans for five new cars at Paris just yet, though "leading global luxury brand" is said to be mentioned in the Geely email, which could well perturb those raised on a Lotus of lithe, lightweight sports cars. On the other hand it's not lithe, lightweight sports cars that the global buying public currently demands, so don't expect the Lotus portfolio diversification to stop at just the one SUV.
If it wants to rival brands like Porsche - yes, we said it, but that must be wear a sports car manufacturer is aiming in 2018 - then it will need a similarly broad range of cars. What do you want to see first, the small SUV or the big luxury saloon? Bold perhaps, but with Lotus engineering nous finally supported by some proper financial backing, the time for a change in fortune might just be upon us.
They are already bulding a huge new facility on the site, and additional investment for the next generation of cars can only be fantastic news for the brand, employees and us car enthusiasts, even if it includes an SUV to help payback that investment!
Didn't do too well last time, though!
If Lotus is about ‘adding lightness’ then Lotus should be able to have an absolute field day in the SUV segment. It’s a segment that absolutely everything Chapman stood for and believed in could be brought to bear on. It’s fat, it clumsy, it’s thirsty and it’s over priced. Lotus ethics can make it light, nimble, efficient and cheaper.
Just better in every way except for the OAPs who need neck warmers, pile warmers and Stanna seats as they are too feeble, decrepit and senile to do anything themselves or to survive more than ten minutes in the utterly hostile environment of a lightweight car.
Maybe Lotus could tap that market with lightweight CF coffins?
I like the estate idea, to that I would like to add that there is a space for cars that are simplified in their purpose and set up with a driver focus. No fancy expensive chassis tech or mega power necessary, just a car with a dynamic chassis balance, feelsome steering, immediate (throttle) and well weighted response from the other controls also, and a pleasing aural feedback. And somehow package that so that people really want it...
https://www.lotus70.com/ (Website goes live midday tomorrow.)
But the SUV segment does still have a huge amount of fat in it as most a built as mobile life support systems for fat, lazy and weak people who require hundreds of heavy motors to help them do anything more complex and taxing than breathing.
Lotus won’t ever do it but I would love to see a super light SUV, focussed on B road use. Smaller engine with a simplified drivetrain and the bare minimum of life support systems and pile warmers.
They are already bulding a huge new facility on the site, and additional investment for the next generation of cars can only be fantastic news for the brand, employees and us car enthusiasts, even if it includes an SUV to help payback that investment!
I do hope it works out for Lotus though, hopefully they get the right people are in there running it so the clever guys on the ground can do their stuff
But the SUV segment does still have a huge amount of fat in it as most a built as mobile life support systems for fat, lazy and weak people who require hundreds of heavy motors to help them do anything more complex and taxing than breathing.
Lotus won’t ever do it but I would love to see a super light SUV, focussed on B road use. Smaller engine with a simplified drivetrain and the bare minimum of life support systems and pile warmers.
I wonder if he was binned because he disagreed with the proposed new products?
I wonder if he was binned because he disagreed with the proposed new products?
He was there to make the books look good enough to lure a new investor and lucked out when Geely wanted control of Proton and Lotus was part of the bigger deal.
His accomplishments total less than that of caretaker Aslam Farikullah, a rare skill.
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