Lotus Elan

$2 Billion Lotus?

PostPost by: S2Jay » Tue Sep 04, 2018 6:23 pm

Can $2 B usd change Lotus?
If so, is that a good thing? Well, maybe if the diff is existence or not.

Don't know if anyone else has seen this & already discussed, but I saw this article by accident recently & it is dated Aug 9, so I may be the last to know.... I did not see the source of this on the net, but it refs a Bloomberg article.

"Geely could invest almost $2B to turn Lotus into a Porsche rival"
by: Sean Szymkowski Aug 9, 2018

"China's Zhejiang Geely Holding Group is prepared to invest the necessary funds to make Lotus into a world-beating luxury and sports car brand. If Geely has its way, Lotus will be England's Porsche. And the Chinese automaker could dump as much as $2 billion into the brand to begin the process.
According to a Bloomberg report published Thursday, Geely is considering the massive investment amount to add new Lotus facilities in the United Kingdom. Sources close to the plans said Geely is in talks with its Malaysian partner Etika Automotive Sdn Bhd. to purchase more than the 51-percent stake in Lotus it currently holds as well.
In phase one of the investment, the Lotus plant in Hethel would expand and hire 200 more engineers. Then Geely would construct a second plant in U.K, most likely in the West Midlands region. A new design and innovation center would join the plant, perhaps in Coventry. Bloomberg's did not provide information on product investment, but Lotus' lineup is in for an overhaul.
We know two new sports cars are in the pipeline for 2020, per former Lotus CEO Jean-Marc Gales, and the brand will then launch an SUV one or two years later. After the first SUV, Lotus won't stop there; the brand has plans for more than one SUV. And one of the sports cars planned may just end up being a supercar akin to the Esprit. It would serve as the brand's flagship.
Geely purchased a major stake in Lotus' former owner Proton last September, a deal in which it also agreed to buy the British sports car brand in the process."
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A much longer version of this news is here [if the link works, otherwise it seems a quick search.]

https://www.just-auto.com/analysis/lotus-under-geely-whats-the-plan_id183501.aspx
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just looking for clues at the scene....
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PostPost by: Fred Talmadge » Tue Sep 04, 2018 10:13 pm

I've been impressed with how they have handled Volvo. I think they have the will to follow thru which is probably the most important part of this job as it's not going to be easy.
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PostPost by: elanfan1 » Tue Sep 04, 2018 11:11 pm

I’ve heard that there may be some platform sharing with TVR (and Aston Martin - though they are big ol beasts so not so sure). Maybe keep making the shells in Norwich and unite with chassis at another plant who really knows where, but Aston and TVR are in Welsh Wales and if a testing track is needed maybe the circuit of wales if it gets built near Ebbw Vale where there is lots of cheap labour available too.

All just speculation.
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PostPost by: billwill » Wed Sep 05, 2018 12:00 am

I think the plans for a race circuit at Ebbw Vale have been abandoned. Alas.
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PostPost by: elanfan1 » Wed Sep 05, 2018 8:48 pm

billwill wrote:I think the plans for a race circuit at Ebbw Vale have been abandoned. Alas.


Unless a major investor relocates to the area? I have no insider know,edge tho.
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PostPost by: billwill » Thu Sep 06, 2018 12:57 am

https://www.bbc.co.uk/news/uk-wales-politics-44798700

Suggestions a casino could be built on the site of the failed Circuit of Wales project have been quashed by the Welsh Government.

Plaid Cymru's Adam Price revealed to AMs that American real estate investor Rocksteady Partners is interested in the land near Ebbw Vale.

The firm, which has offices in Las Vegas, has built super casinos.

Economy Secretary Ken Skates told the Senedd ministers are "not open" to the presence of a casino there.

Plans for the £433m motor racing track collapsed in June 2017 when the Welsh Government refused to guarantee half its cost, but only after it spent £9m trying to help get the ill-fated project off the ground.
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