Lotus is an iconic automaker but, unfortunately, it hasn’t been a profitable one for years.* China’s Geely, which purchased a 51-percent stake in the brand last year, hopes to change that by investing “millions” into its production facilities. With the last factory revamp happening in 2009 to prepare for the Evora, that’s welcome news for Lotus. It also means new models are on the way.

Chief executive Jean-Marc Gales, a man who clearly enjoys his company’s cars, recently said that two new performance vehicles will arrive in 2020 — followed by an (apparently mandatory) sport utility vehicle. While we’re not enthralled by Lotus entering into the already bloated premium crossover segment, we’re hoping it’s willing to provide something different. Gales mentioned the model entering development a little over a year ago, saying “no one makes a lightweight, good-handling SUV. It’s a niche, and it looks well positioned.” (Read More…)

China’s Zhejiang Geely Holding Group Company has decided to purchase a 49.9 percent stake in Proton from Malaysian conglomerate DRB-Hicom and a majority share of the United Kingdom’s Lotus Cars.

Geely seems to have an affinity for other manufacturers and eclectic tastes — not just because it has received criticism for modeling its own cars after everything from Roll-Royce to Toyota, but because it also purchased Volvo Cars and the London Taxi Company. This could be extremely good news for Lotus, which always seems to be in a bit of a bind. Whether or not you like the idea of a Chinese company owning distinctively European brands, Geely helped Volvo come back from the brink and has committed to doing the same for Lotus.

“Reflecting our experience accumulated through Volvo Car’s revitalization, we also aim to unleash the full potential of Lotus Cars and bring it into a new phase of development by expanding and accelerating the rolling out of new products and technologies,” stated the company in its official announcement.  (Read More…)