It seems as if Geely’s 2017 purchase of storied English car maker, Lotus, was more than just a lark. Bloomberg is reporting that Geely is making plans to inject over $1.9 billion into Lotus Cars to develop new product and promote the brand, globally.
Billionaire Li Shufu has a grand vision. He dreams of taking his Geely Holdings group to the top of the auto industry, and setting himself up as an industry powerhouse to rival Toyota and Volkswagen. To help make that dream happen, he bought Volvo from Ford in a deal that closed in 2010, and ushered the Swedish brand into something of a renaissance. With the premium/luxury end of the market covered, Li felt the time was right to grow into the sportscar market, and made a move on Lotus.
According to an unnamed source who claims to be familiar with the matter, Geely’s investment plan includes adding production facilities and research centers as part of a larger expansion of Lotus’ Hethel factory. Some 200 new engineers are expected to be added to the workforce with an eye towards developing new products and, one would assume, developing the motorsports arm of the historic brand.
Sounds pretty exciting to me. What about you? Do you think a newly cash-flush Lotus will be able to take on Ferrari and Porsche … maybe with Volvo power in the engine bay? Let me know what you think in the comments section at the bottom of the page.