It’s been over 18 months since the House of Commons last spoke about injecting cash into Lotus Cars, but today Business Secretary, Vince Cable…
Here’s a bit of good news to end the week. Group Lotus has announced that it will create more than 100 new jobs at…
News of Lotus’ demise has been greatly exaggerated, following a report this morning that it was being liquidated. The news, first published in Autocar,…
Yesterday at an extraordinary general meeting (EGM) in Shah Alam, DRB-Hicom’s Chairman Datuk Syed Mohamad Syed Murtaza confirmed what we’ve known for a while, that the company is ‘seriously’ considering its options for Group Lotus, including disposing of its stake to focus on more profitable investments.
Last week an article was published online by Auto Express magazine, with the title “Lotus’ future is safe”. In the interests of transparency and to ensure an honest dialogue, I’ll provide a little background on the source of this article and why you should still maintain an open mind about Lotus’ future.
Rumours emerged in the past few days that Gerard Lopez’s Genii Capital, owners of Lotus F1, may be in talks to sell the team.
It will come as no surprise to anyone who’s been following Group Lotus recently, that Dany Bahar, who was fired as CEO back in June this year, has initiated a claim for £6.7m ($10.6 million) against his former employers for “unlawful early termination of his employment”.
The first production Exige S came off the assembly line last week, beginning a new phase for the Norfolk sportscar maker. Chief Operating Officer, Aslam Farikullah, marked the milestone event by speaking out for the first time about his plans for the company.
Earlier this week I got together with Margareta Pagano, Business Editor of The Independent newspaper, and compared notes on the state of play at Norfolk’s favourite car maker.
In a statement released this evening, DRB-Hicom announced the appointment of Mohd Aslam Bin Farikullah as Lotus’ new Chief Operating Officer (COO), at the same time as they confirmed the termination of Dany Bahar as Group Lotus CEO.
It comes as no surprise to hear that Dany Bahar’s suspension from his role as Lotus CEO, has now been confirmed as a full termination.
DRB-Hicom released a statement last night confirming that beleaguered sports car maker, Lotus, is not for sale. But what is their motivation for providing such an assurance, and what does this ‘really’ mean?