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Geely considers $1.9 billion investment in Lotus

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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.

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Geely considers $1.9 billion investment in Lotus - Time to read 2 min
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