SCOTT27
Lap Time Luminary
Patents for the Lotus SUV model. Or a small Maserati?
British sports car maker Lotus bought by China's Geely
Cashmere
RPM Ruler
Sorry, forgot to paste the text in. Post edited.
KiwiRob
Autotechnik Ace
But that’s what the XC60 is a genuine road biased SUV. Even if it was based on the SPA chassis Lotus would make it the best handling SUV in its class, I’d have no doubts about that, Lotus are world class when it come to chassis engineering.
Cashmere
RPM Ruler
Geely said to mull spending nearly $2 billion on Lotus revival
BEIJING -- Zhejiang Geely Holding Group is considering an investment of at least 1.5 billion pounds ($1.9 billion) to revive the British brand Lotus, according to people familiar with the matter.
The Chinese automaker, which also controls Volvo Cars, plans to add production facilities and research centers for Lotus in the UK, one of the people said, asking not to be identified because the deliberations are private.
Geely is also in talks to increase its 51 percent stake in Lotus with its Malaysian partner Etika Automotive, which holds the remainder, another person said.
"Geely is fully committed to restoring Lotus into being a leading global luxury brand," the automaker said in an email, declining to comment further. Calls to the office phone line of privately held Etika Automotive weren't answered.
The investment plan is part of Billionaire Li Shufu's grand vision to take Geely to the forefront of the auto industry rivaling Toyota and Volkswagen Group. Li's group acquired Volvo in 2010 and spent more than $11 billion to modernize its factories and help turn around the Swedish brand.
In February, Li emerged to be the biggest shareholder in German luxury automaker Daimler with an almost 10 percent stake.
Second factory
Under Geely's proposal, the first phase would involve an expansion of Lotus's Hethel plant in England with the hiring of 200 engineers, according to one of the people. Later, it plans to set up a second factory in the UK, potentially in the West Midlands region, and add a new design and innovation center possibly in Coventry, the person said. Two months ago, Geely had committed to a new UK design studio in Coventry, Geely said in its email.
The Chinese automaker is hoping to build Lotus as a luxury nameplate that competes with Porsche and Ferrari.
Lotus has floundered under Proton management since being acquired for 51 million pounds in 1996. In the seven months through July this year, it sold just 145 cars in its home country, with sales falling 25 percent according to registration data from the Society of Motor Manufacturers and Traders.
Geely acquired the Lotus stake from Proton Holdings last year, when it also announced buying 49.9 percent of Proton from DRB-Hicom, the Malaysian conglomerate controlled by tycoon Syed Mokhtar Al-Bukhary, who also owns Etika Automotive.
After the acquisition, Li said the priority will be to make Proton and Lotus profitable and to sustain growth while embracing new technology trends of electrification and artificial intelligence. He also said Geely would consider producing Lotus sports cars in China.
Geely said to mull spending nearly $2 billion on Lotus revival
BEIJING -- Zhejiang Geely Holding Group is considering an investment of at least 1.5 billion pounds ($1.9 billion) to revive the British brand Lotus, according to people familiar with the matter.
The Chinese automaker, which also controls Volvo Cars, plans to add production facilities and research centers for Lotus in the UK, one of the people said, asking not to be identified because the deliberations are private.
Geely is also in talks to increase its 51 percent stake in Lotus with its Malaysian partner Etika Automotive, which holds the remainder, another person said.
"Geely is fully committed to restoring Lotus into being a leading global luxury brand," the automaker said in an email, declining to comment further. Calls to the office phone line of privately held Etika Automotive weren't answered.
The investment plan is part of Billionaire Li Shufu's grand vision to take Geely to the forefront of the auto industry rivaling Toyota and Volkswagen Group. Li's group acquired Volvo in 2010 and spent more than $11 billion to modernize its factories and help turn around the Swedish brand.
In February, Li emerged to be the biggest shareholder in German luxury automaker Daimler with an almost 10 percent stake.
Second factory
Under Geely's proposal, the first phase would involve an expansion of Lotus's Hethel plant in England with the hiring of 200 engineers, according to one of the people. Later, it plans to set up a second factory in the UK, potentially in the West Midlands region, and add a new design and innovation center possibly in Coventry, the person said. Two months ago, Geely had committed to a new UK design studio in Coventry, Geely said in its email.
The Chinese automaker is hoping to build Lotus as a luxury nameplate that competes with Porsche and Ferrari.
Lotus has floundered under Proton management since being acquired for 51 million pounds in 1996. In the seven months through July this year, it sold just 145 cars in its home country, with sales falling 25 percent according to registration data from the Society of Motor Manufacturers and Traders.
Geely acquired the Lotus stake from Proton Holdings last year, when it also announced buying 49.9 percent of Proton from DRB-Hicom, the Malaysian conglomerate controlled by tycoon Syed Mokhtar Al-Bukhary, who also owns Etika Automotive.
After the acquisition, Li said the priority will be to make Proton and Lotus profitable and to sustain growth while embracing new technology trends of electrification and artificial intelligence. He also said Geely would consider producing Lotus sports cars in China.
Geely said to mull spending nearly $2 billion on Lotus revival
Wunderkind
Chicane Challenger
I think Geely is the best thing to happen to Lotus for as long as I can remember. Geely has deep pockets (but quite prudent) and a willingness to let foreign executives manage as long as they prove to be effective and competent. Geely has shown themselves to be fantastic owners of Volvo. But the price at which Geely wanted to IPO Volvo was nuts.
I think Geely wants to use the Lotus brand for its full electric models in the future. Daimler is an obvious source for the electric hardware.
I think Geely wants to use the Lotus brand for its full electric models in the future. Daimler is an obvious source for the electric hardware.
Cashmere
RPM Ruler
At the flying car forum this week, Terrafugia announced that the transition is coming to market next year and the TF2 in 2023
tristatez28lt1
Tire Trailblazer
Similar threads
Lotus
Lotus Group (also known as Lotus Cars, and doing business as Lotus NYO in China) is a British multinational automotive
manufacturer of luxury sports cars and electric lifestyle vehicles. Founded in 1948 by Colin Chapman (1928-1982), it is
owned by Chinese multinational Geely.
Official website: Lotus Cars
Official website: Lotus Cars
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