Lotus Halts Development Of Future Models

Lotus is "officially" on lock-down as the British car-maker suspends much of its new model development - including the new Esprit. In a recent interview with EVO, Lotus boss Dany Bahar admitted that much of the company’s development of new models has been suspended following the Malaysian government’s decision to sell its majority stake in Proton. The company's takeover regulations require all involved parties to enter into a "lockdown" of anything outside of normal business activities.

"This difficult period for Lotus finishes at the end of March and that’s 
when we will know then whether DRB-Hicom will want to continue with our 
business plan," Bahar noted, "I really hope they will but I cannot call it at the moment, it’s still 50-50."

Production is still on-going for current models but at a much reduced capacity but there will be significant delays for the Exige S and Evora GTE models making it to showroom floors. Lotus says they already have 400 orders in place for the new Exige S.

In the meantime, Lotus is still carrying on with all of its motorsport activities and will be the featured marque at the Goodwood Festival of Speed this year. With such rich racing heritage we can only hope Lotus survives this difficult time.

Source of scoop EVO

 

Horrible headline, horrible summary of the story. Lotus is shut-down or lock-down because of federal regs in Malasysia. Any buyout in that country requires the company (in this case Proton) to suspend nonessential spending.meaning other than basic operating costs and payroll no money can be spent until a 90 day audit is done. In 90 days the buyout will be complete and Lotus will be free to do whatever the new owner let's it.

What we have here is good old Danny boy whining so that when the 5 models he has pipe dreams of producing fail he has a fall back. It gives him an excuse why he will need more money to bring the Esprit back to production. And in my personal belief he has a goal of owning Lotus himself and this will be a cry to get investors on board to buy him the company.

I am a Lotus owner, fan and restorer for many years. I am not a Danny fan in the least.

 

John, this is simply a summary from Bahar's interview with EVO, he's basically stating this could go either way...

"This difficult period for Lotus finishes at the end of March and that’s 
when we will know then whether DRB-Hicom will want to continue with our 
business plan," Bahar admits, "I really hope they will but I cannot call it at the moment, it’s still 50:50."

Regardless thanks for the contributions and let's hope your summary of the ordeal is correct.

 

Thanks for the clarification! I died inside a little when I read the OP's first post.