Accessibility Links

Geely considers $1.9 billion investment in Lotus

09/08/2018
Like postLikeLabel * DEFAULT * en-GB
The iconic manufacturer of lightweight British sportscars, Lotus, could be about to receive a significant boost if the company’s Chinese owner, Geely, proceeds with a $1.9 billion revival plan.

According to a report in Bloomberg, Geely, which also owns the Volvo Car Group, plans to add production facilities and research centres for Lotus Cars in the UK, whilst also increasing its 51 percent stake in the company.
Geely's investment plans could see the construction of new factories and research facilities within the UK.
(Image via Lotus Group).

Such an investment would fit into Geely’s plans to become an automotive giant, rivalling the likes of Toyota and Volkswagen. Since the acquisition of Volvo in 2010, Geely has invested over $11 billion to modern its factories and modernise the Swedish brand.

Bloomberg’s report suggests that one of the main aims of Geely’s proposed investment would be to significantly expand the production capacity of Lotus:

“Under Geely’s proposal, the first phase would involve an expansion of Lotus’s Hethel plant with the hiring of 200 engineers… Later, it plans to set up a second factory in the UK, potentially in the West Midlands region, and add a new design and innovation centre possibly in Coventry.” An email from Geely to Bloomberg also stated that they had committed to a new UK design studio in Coventry.
Geely hopes to develop Lotus into a credible rival for Porsche and Ferrari.
(Image via Lotus Group).

Insiders within Geely have suggested that the Chinese company is hoping to develop Lotus into a luxury nameplate that can rival, and compete with, established brands such as Porsche and Ferrari.

Naturally, such plans will be greeted positively by the British Automotive industry, particularly the prospect of hundreds of new engineering jobs being created in the near-future.

Get your next Automotive engineering job with Fircroft

Fircroft recruits for several British luxury and performance car manufacturers. Explore our vacancies now and apply today!
Tags: Automotive
Add new comment
*
*
*
By commenting on this blog you're agreeing to our terms of use

Comments left should relate to the subject of the above blog. Unfortunately job applications cannot be accepted here.

For job enquiries and applications please use our job search and for technical or account queries please contact us.
Geely considers $1.9 billion investment in Lotus - Time to read 2 min
Share this article
Like postLikeLabel * DEFAULT * en-GB

Back to Top

By clicking "Save" you consent to
receiving matching jobs based on the
job/page you are viewing by email from
Fircroft, as detailed in our privacy policy
Fircroft would like to keep you up to date with our current vacancies and latest company updates via email. Occasionally Fircrofts marketing may contain 3rd party or affiliate information, however we will not share your personal data with any 3rd parties without your consent. From time to time, we might contact you to get your views on the service you have received. To help you get the best out of Fircroft, we may personalise them based on your location and how you use fircroft.com
Fircroft would like to keep you up to date with the latest company updates and vacancies via SMS / Text messages
Your consent options above means that Fircroft cannot contact you about any new or alternative career vacancies. If you want Fircroft to only contact you about the role(s) you have applied for please continue, however if you would like to be considered for other positions please allow us to contact you by changing one or more of the above consent.