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Archive for February, 2012

Lotus instructed to push thru with 5-year program

Lotus-ExigeTop executive Dany Bahar of Lotus was orderedto continue with their five-year program which was designed in 2010 to change the entire model lineup of the Lotus brand even as Proton, its parent company in Malaysia is being acquired by DRB Hicom.

The process of ownership might slow down in the next sixty days as laws in Malaysia requires for change of the ownership of a company. During this time Lotus will not be able to tap the Proton funds.

According to a recent interview, the plans of the Lotus brand has been presented to its new Proton owner. DRB Hicom has instructed the management of Lotus to continue with their plans. The technical issue though is that there will be a short pause in tapping the available funds as Malaysian laws declare.

The new owners of Proton though are open to any discussion which will put the Lotus brand on sale. But Dany Bahar denied that the brand is close to being sold already to an interested party like the investment company Genii based in Luxembourg. Genii already owns the F1 team of Lotus.

As far as the Lotus boss is concerned, he is not aware of any particular company that is about to close the deal. Bahar explained that Proton needs to consider the implications of selling Lotus. Bahar also shared that there is a big demand for their Lotus Exige and also for Evora GTE.

Lotus is currently on the second year of its 5-year program. Bahar proudly shares that their new V8 powerplant for the supercar and the new gearbox are progressing well and developing on schedule. Lotus should be testing their supercar prototypes on the asphalt this May.