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Chris Bruce2011-12-29 15:24:35

Struggling Lotus May be Sold by Proton

Struggling Lotus May be Sold by Lotus


Despite having just shown some success by prepping a WRC car and building an Indycar engine, things are not looking great at Lotus. Its Malayasian state-owned, parent company Proton is unhappy with Lotuses lack of a profit. In fact the company has yet to make money since Proton bought it in 1996. The rumors of Lotuses sale comes from the increasing possibility that Proton could be privatized, and if so investors would not want to keep an under performing division. 

Proton says that it has no plans to sell Lotus because Lotus is in the second year of its five-year, $750 million turn-around plan. Lotus's plan is to restructure the company and produce several new models including a new Esprit, Elise, Elite grand touring car and Eterne four-door coupe. Lotus claims that it can become profitable in 2014 by selling 8,000 cars a year by then. In the last fiscal year, Lotus produced 1,985 cars. 

There have already been rumored potential buyers for Lotus. Part owner of the Lotus-Renault GP Team, Genii Capital, and Chinese automaker SIAC have both considered buying Lotus, if the opportunity presents itself. 

Source Motor Authority


1 comment

If it goes for sale, I am quite convinced that it will go to China.
14.01.2012 @ 09:20


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