Lotus future in the UK

[Gus82]

I expect to see the Exige, Evora GTE and Esprit finished off under DRB-Hicom's ownership and then the business sold. Too much investment has been made in these models and there are/will be buyers, so its worth finishing them and showing that the company has the potential that has been promised.

I also think that many of the racing teams sponsored by Lotus will be looking for new sponsorship next year and Lotus may even be out of Indycar again next season. I have no doubt that the Lotus branding and heritage helps the Lotus F1 Team obtain sponsorship so I don't see why this would change any time soon.

And it seems that the engineering arm are doing well, so this should help secure Lotus' future as well as the fact that, however it has been done, awareness of Lotus is probably at an all time high.

However beyond that anythings possible..... I don't expect we will see the full model range displayed in Paris 2010.

Edited April 6, 2012 by Gus82

[TBD]

Having watched Sunday's Best of Top Gear where they drag raced the £40k BMW 1M against the £50k Porsche Cayman & the £60k Lotus Evora IPS and the Lotus comes last I can fully understand why they're not selling.

Good to know. I'm absolutely glad I didn't buy a dragster by mistake when I bought the Evora. I never just wanted to drive in a straight line! I bought the Evora for its curves and its ability to drive through the same.

I also bought it because I didn't want to see another at every red light.

Only a miniscule minority will buy a Lotus based on its potential as a dragster.

[koorby]

Could not have said it better myself. It's the Evora's sublime chassis, performance on curves and its rarity which are the value proposition and why I chose it over Boxster, Cayman et al.

[Moxie]

People like Matt still haven't had their car built yet

I live in hope, but at this point my enthusiasm is waning.

[Bee]

I'm generally with anyone who bought an Evora for its rarity, sublime handling ect. but please let's not ignore the reality of the situation: unless Lotus quickly impresses a considerably larger audience, you're soon gonna be enjoying a substantially larger rarity value to your cars! I don't for a minute think Lotus should be making drag strip racers; TVR enjoyed a lot of success with that and look where they've ended up. However, if I'm brutally honest, I have very high expectations of Lotus's cars, and TV spots showing the Evora/Evora S being left by its cheaper rivals on the straights and tracks frankly depress me. I am therefore not going to be remotely apologetic at the prospect of the Exige S/Roadster showing that Lotus can do the business. I sincerely hope that anyone truly wanting to see fabulous Lotus cars in the not-too-distant future appreciates the need for Lotus to be reaching out to and impressing a wider audience; Lotus connoisseurs already appreciate what Lotus cars are capable of, but potential new customers need to see cars that truly offer something over their potential rivals, and cars that come 2nd and 3rd best to cheaper offerings from said rivals do not cut the mustard.

[amoss]

... However, if I'm brutally honest, I have very high expectations of Lotus's cars, and TV spots showing the Evora/Evora S being left by its cheaper rivals on the straights and tracks frankly depress me. .....

Sums up an annoyance with modern motoring shows; they focus on track performance rather than road performance. Remember that Clarkson drove the first Evora around on the grass and said that in a Ferrari you would be shaken to bits.As for many current British roads a field is quite possibly smoother.

Lotus still have one of the best handling/ride balances available, but that is not giving the "bragging rights" which appeal to so many potential buyers.

[yeller77]

So the story is coming full circle. The 2 guys who wasted so much money taking us to court are gone. Chairman and ceo. Could have been so different. But caterham doing good

A Tweet by @tonyfernandes

2012-04-10

The tragic thing about lotus is they all tried to destroy us. Ego. If they worked with us would have been so good. Anyway we get stronger day by day at caterham.

A Tweet by @tonyfernandes

2012-04-10

No shortage of interest and opinions in the fate of the Group...

[hedgerley]

Either TF is talking about Proton management or he is confused -

http://www.btimes.com.my/Current_News/BTIMES/articles/20120410141820/Article/index_html

With a few weeks left to run on the due diligence I would hope DB is still there fighting his/Lotus' corner. I doubt DRB will have made any decisions just yet.

[Gus82]

Joe Saward has an interesting take on things. I would take it with a pinch of salt as no sources etc. have been provided, however the man has a habit of getting many things right.

http://joesaward.wordpress.com/2012/04/10/worrying-noises-about-group-lotus/#comments

Needless to say if this is true I hope Gerard Lopez can do a deal. Perhaps the loan swaps etc. would assist with the preferred sale process in an administration type scenario? I'm definitely not an expert on such things but it wouldn't surprise me.

[Bibs]

Joe Saward and Tony Fernandes are both on the board at Caterham. I'd take anything either say about Lotus with a pinch of salt.

[Exploded]

Tony Fernandes, nor Joe are saints, but I think this article is quite objective.

Even Joe agrees, it would be the best on short term that Lopez acquires the business. Time will tell.

But for now everything I feared when I heard Bahar's plans is coming through. I really hate it, I hoped they would prove me completely wrong. Let's hope some positive news is coming through soon.

[Mark Blanchard]

Here are the same unsubstantiated rumours at Autocar: Clicky

Edited April 10, 2012 by Mark B

[NedaSay]

Well If any of this turns out to be substantiated!

If Lotus is to get a new owner and this new owner is not to be the TLF collective then make it SAIC please! They have good tech! Their job with the MG brand shows what they can do! Strong ties with GM!

I know it's not over till the fat lady sings but... What Lotus needs is a strong owner that doesn't require loans from 7 banks to raise money and needs an owner that believe in the company!

Edited April 10, 2012 by NedaSay

[Guest surferphil]

Lotus needs an owner that understands the company and has intelligence, finance and business integrity.

I hope it stays in Europe and stays the hell away from GM.

[Kimbers]

Proton boss has gone, DB's direct boss, thats in the Malaysian Press, so confirmed. Dany Bahar is "On a Leave of Absence". I haven't heard he's gone but why would you go on holiday at a time of Crisis?

[Bibs]

Just to clarify, Syed Zainal is still the MD of Proton and Dany Bahar is still the CEO of Lotus.

Most of the other news you've read is speculation, and inaccurate at that.

[Gus82]

Good (well at least better!) news:

http://www.autocar.co.uk/blogs/autocarconfidential/archive/2012/04/11/why-we-can-t-lose-lotus.aspx

[ramjet]

I realise that social media apps are ways of getting your message out to many and quickly, but I would have thought that a CEO of a company would have more to do than tweet derogatory comments about others?

There, but for the grace of God and all that? No?

[Kimbers]

Most recent press release 8 hrs ago.

http://paultan.org/2012/04/10/official-proton-not-aware-of-syed-zainals-resignation/

[Bibs]

Micheal - TF often uses Twitter as a personal venting medium, he's not shy on getting personal with others on it too!

[rogerch]

http://uk.autoblog.com/2012/04/11/could-lotuss-future-be-in-real-jeopardy/?icid=cars|DL_1_link

Fact or fantasy, there's no denying the final paragraph.

[Bibs]

Sorry Roger...

Lotus in positive talks with DRB-Hicom

[Bee]

Following on from recent speculation regarding the current state of affairs in Hethel, a Group Lotus spokesperson said to TLF:

“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.”

Now that's the kind of announcement that I was looking for! It’s damned obvious to Autocar (from reading their recent statement) that Lotus has what it takes, and that’s following a visit to Hethel, not ‘some guy’ reading other peoples’ opinions and then posting their own wild speculation. The journalists at Evo have also recently visited Hethel and came away deeply impressed with the operation, there. I hope the forthcoming reviews of the Exige S, Exige Roadster and Evora GTE remind people just what Lotus can do. I hope a great deal more that the management from DRB-HICOM have seen what everyone else seems to see after visiting Hethel: that Lotus has ‘realistic’ potential to take their ambitious plans to fruition: they’re worth backing!

[hedgerley]

Couldn't have put it better myself Ben. And if you actually list what Lotus has achieved under Bahar over the last two years (ignoring the 'fluff') it is impressive. I reckon his 5 year plan was pretty much on track.

Another point worth considering - Lotus recently secured a £10m grant from the second round of the Regional Growth Fund i.e. HMG. I wonder what conditions were attached and whether HMG has any sway or at least a strong opinion on Lotus' future?

Cameron is in Asia, visiting Malaysia later this week. Rumour has it he will be pitching for a positive outcome for Lotus when he meets Government and industry leaders there. I hope that's a good thing....

Edited April 11, 2012 by hedgerley

[TBD]

I agree, it was time for a statement by Lotus, resp. Dany. The rumours were getting ridiculous, but they do show that there are quite a few people vesting their interests aganst Lotus. I don't really care if DRB keeps Lotus or decides to sell it, I'm sure any potential buyer would go forward with the current plan.

Love the way Lotus took it in facebook.