a business case may be to sink lotus cars, and keep lotus engineering alive. and then sit on engineering until the time is right to revive... one problem is a lot of the lotus talent that knows how to design cool cars have left onto bigger and better things since Danny ran them off with his moronic ideas... so it will now be tough for lotus to bring a new compelling product to market. the cars business is in a very bad place right now. nothing in the pipeline, lots of thought leadership at competitors, buried in debt, wasted 3 years, buried in contractual agreements that have no benefit and saddled with lots of relationship that add no value. so again, why would anyone want it? the new owner would have pay off the debt with cash... clear cut back to the core resources, re-trench to have some kind of run rate revenue, and then invest for new development... tough... just ask TVR how that went. it could be done, but will take some talented fiscal and operational business managers to make it happen.I believe most objective people would say Lotus' days are numbered. The final punctuation mark of a long list of manufactures that have fallen in the past several years. Makes me concerned about getting parts and service in the future.
I dunno... R & D, Bean and others that have supported Lotus over the years: 7's, Elans, Europas, Elites, Esprits, Eclats may have survived, but I don't think anyone would see them as 'booming.'Well if it happens, it will be a boom/boon for all the shops which sell aftermarket Lotus parts... I wonder if it is too late to purchase sector111 stock.
PistonHead said:Since we posted this story Lotus has released the following statement:
“The new Proton owners DRB-HICOM are currently in the middle of their due diligence of Group Lotus. There have been and continue to be positive discussions between Group Lotus senior management and senior management at DRB-HICOM both here in Hethel and in Malaysia. Despite various rumours in the media to the contrary, at no point has DRB-HICOM indicated to Group Lotus that they intend to put the company into administration and we welcome the opportunity to put that rumour along with incorrect speculation that production has stopped , that Dany Bahar is no longer CEO and that we are no longer involved in F1 to bed.
“It’s no secret that we are going through a very difficult time at the moment due to the change in ownership but we’re doing everything we can to get through this period and come out the other side stronger than before. We’re very grateful for the continued support we receive from the people of Norfolk and all over the world.”
The original story can be seen below.
Lotus's ambitious 'five-year plan' for a massive - and expensive - product revival to turn it into a profitable concern is looking shakier than ever. There are even whispers that the company could be put into administration in order to alleviate its £200 million debts.
But that's not all. According to an article by Autocar's Steve Cropley, DRB-Hicom, the new owners of Lotus parent company Proton, aren't convinced of the value of the Brit sports car maker and so could be looking to offload or dissolve the brand.
Were it to be offloaded, one of the leading suitors could well be China Youngman - a company that's already tried to bid for Saab, and that has been Lotus's importer in China for more than half a decade.
But how true is all this? As Autocar points out, Lotus has failed to deny the rumours of its problems, the 60-day period where Malaysian law demanded that Lotus's flow of cash was interrupted as Proton changed ownership is well and truly over, and Lotus CEO Dany Bahar is 'on leave' this week. The official line from Hethel would be that they are awaiting news themselves, hence the lack of any comment.
Make of those facts what you will, but it does make Sniff Petrol's recent Bahar picture parody seem all the more realistic...
He is probably someone paid by some marketing company to spin the news in one direction or another.Why would someone creat an account just to post that?
BBC News said:An investment capital firm has said it is considering buying Norfolk-based sports car maker Group Lotus.
Lotus was bought in 1996 by Proton, which in turn was acquired by Malaysia's DRB-Hicom earlier this year.
Reports suggested DRB-Hicom had been considering administration as a way of freeing itself from Lotus's debts, but this was denied by Lotus last week.
Genii Capital said it was looking over the company books before deciding whether to make an offer.
A spokesman for the Luxemberg-based venture capital firm, which owns the Lotus F1 team - formerly owned by Group Lotus, said it respected the "historic link" between Lotus and Norfolk.
"We would not be looking to move anything away from there," he said.
No-one from Group Lotus was available to comment on Saturday, but last week a spokesperson said: "The new Proton owners DRB-Hicom are currently in the middle of their due diligence of Group Lotus.
"There have been and continue to be positive discussions between Group Lotus senior management and senior management at DRB-Hicom both here in Hethel and in Malaysia.
"Despite various rumours in the media to the contrary, at no point has DRB-Hicom indicated to Group Lotus that they intend to put the company into administration and we welcome the opportunity to put that rumour, along with incorrect speculation that production has stopped, that Dany Bahar is no longer CEO and that we are no longer involved in F1, to bed."
Earlier in April, the Lotus F1 team formally ended its title sponsorship with the Lotus Group amid uncertainty about the group's future, but said it would continue to use the Lotus name.
The spokesperson added: "It's no secret that we are going through a very difficult time at the moment due to the change in ownership but we're doing everything we can to get through this period and come out the other side stronger than before."
In October 2011, Lotus received £10.4m of government funding and announced plans to create 1,000 jobs as part of a five to six-year expansion plan.