Photo: Lotus
Lotus has just secured a GBP10.44M ($16.2 or EUR11.95) grant from the UK’s Regional Growth Fund (RGF), with the money set to sustain new product development, as well as employee training. What’s more, the funds will also see Lotus create 313 new jobs in the following years.
The grant comes after Lotus owners DRB-HICOM invested GBP100M ($162M or EUR119.5M) in the carmaker. Lotus is also looking to hire 130 people, as announced earlier this year.
Business Secretary, Vince Cable MP visited Lotus’ Norfolk HQ yesterday to formally announce the grant.
“I am pleased to announce today that our flagship economic plan to create jobs outside of London - the regional growth fund - is awarding Lotus a £10 million grant which will help them develop their next generation of cars and create over 300 new jobs in East Anglia,” the Business Secretary said.
The British automaker needed such moves after the failed explosive expansion plan that started back in 2010. Under the helm of ex-CEO Dany Bahar, which was dismissed due to rather shady practices, Lotus had announced a fairy-tale like offensive. This would included a multitude of new models and even new, in-house developed powerplants. Of course, the reality check never failed to appear and things kind of stumbled.
The first models to arrive are fresh Evora and Elise versions, while Lotus is also rumored to be on its way on giving us the new Esprit.
Business Secretary, Vince Cable MP visited Lotus’ Norfolk HQ yesterday to formally announce the grant.
“I am pleased to announce today that our flagship economic plan to create jobs outside of London - the regional growth fund - is awarding Lotus a £10 million grant which will help them develop their next generation of cars and create over 300 new jobs in East Anglia,” the Business Secretary said.
The British automaker needed such moves after the failed explosive expansion plan that started back in 2010. Under the helm of ex-CEO Dany Bahar, which was dismissed due to rather shady practices, Lotus had announced a fairy-tale like offensive. This would included a multitude of new models and even new, in-house developed powerplants. Of course, the reality check never failed to appear and things kind of stumbled.
The first models to arrive are fresh Evora and Elise versions, while Lotus is also rumored to be on its way on giving us the new Esprit.
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