Geely can make from Lotus competitor Porsche

Geely can make from Lotus competitor Porsche

August 9, 2018 0 By autotimesnews

In the near future, the British brand Lotus can get a financial “boost-up” from its owner – the Chinese company Geely Automobile Holdings Limited.

According to the British edition of Autoexpress, the Geely management is considering the possibility of allocating Lotus financial investments of 1.5 billion pounds sterling. Recall that Geely owns 51% of Lotus shares, however, the Chinese giant also controls the brands Volvo, Polestar, Lynk & Co, Yuan Cheng Auto and Proton.

Geely is considering the possibility of building a new research center in the UK, as well as additional production facilities. The Chinese want to raise funds for this by selling the shares of Etika Automotive.

The declared goal of Geely is to create a brand that will compete effectively with anyone, but with Porsche itself, and for this the Chinese company plans to hire about 200 highly qualified employees for the Lotus enterprise in Norfolk.

We can also assume that after such a global investment in the Lotus, Geely will get the technology of the British brand to produce lightweight chassis made of composite materials, which will allow the Chinese brand to strengthen the positions of the controlled brands and their models in relation to competitors.

Help Lotus with global sales can crossovers, which the brand is going to produce in China.

Last year, Lotus sold 783 cars in Europe, the US does not sell cars in the last few years at all. Porsche, for comparison, sold last year 72 834 cars in Europe, and another 55 420 cars in the US.

It is noteworthy that earlier Lotus was going to become a competitor to Ferrari.