Lotus, a company best known for producing great sports cars like the Elise and the iconic Esprit, is about to head into a whole new direction.
While it will continue building sports cars, Lotus CEO Dany Bahar has announced that in October, 2013 the company will produce its City Car, which was shown as a concept at the recent Paris Auto Show.
This new car will be jointly developed by Lotus and its parent company Proton, along with a mystery OEM car company. Bahar went on to say that “We will build three versions: one for the Asian market, one for Europe and a sporty one.”
No exact specification details are known at the moment, however the City Car concept had a 1.2-liter, 3-cylinder engine with hybrid drive technology.
While Lotus will continue its sports cars side of the business, which in the next few years will launch models like the all new Elise, Elan and Esprit, Bahar said that in order for the company to become profitable, it needs to expand its business portfolio.
Bahar told CAR magazine that “Over the past 15 years, Proton has had no profit at all from Lotus. They decided to sell it or give it another chance.”
Let’s hope their new business plan works and enable them to stay in the business of making exciting cars for years to come.