/Lotus Secures £10 Million Government Grant

Lotus Secures £10 Million Government Grant

lotus loan 600x401 at Lotus Secures £10 Million Government Grant

Lotus has been awfully quiet after the dust settled on Dany Bahar’s malarkey that pushed the company to the edge of bankruptcy. Now though, it appears the Norfolk-based sports car maker is ready to get back on its feet, as they managed to secure a £10.44 million government loan to boost operations and create 300 new jobs.

The ten million will be added to the £100 million investment by Lotus owners DRB-HICOM, and will be used to enhance its engineering, productivity, efficiency and quality. It will also enable Lotus to hire new workforce to support production over the coming years.

The company officials do not directly mention any projects for a new model, but Aslam Farikullah, Chief Operating Officer at Lotus did say: “We have very exciting plans for our sports cars and it’s a very positive move for Lotus that we’re in a position to create new jobs and to significantly contribute to Britain’s automotive industry.”

Business Secretary Vince Cable said: “Lotus is an iconic British car maker, with some of the most innovative engineers in the business. The car industry is one of Britain’s great success stories, employing over 130,000 people and helping to build a stronger economy by contributing £11 billion a year. The Government’s industrial strategy is working and giving business the confidence to invest, creating more high skilled, long term jobs in the UK.”

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