Lotus Rejected By British Government In Quest For Funding, New Esprit May Be Built Outside UK

Lotus Rejected By British Government In Quest For Funding, New Esprit May Be Built Outside UK

Lotus may build their next generation Esprit sports car outside of the United Kingdom after its request for a $50 million loan to build a new factory was rejected by an investment arm of the British government.

The loan was intended for a new factory in the Norfolk area of Britain, which would employ 1200 people and build models like the new Elan and Esprit. Other automakers have been given loans by the government, and Lotus released a statement saying “following this decision Group Lotus is currently exploring all available options including the possibility of submitting an updated bid for round two of the RGF, which is set to close on July 1.”

If a British facility cannot be procured, Lotus may build the new cars as Valmet’s factory in Finland or Magna-Steyr’s plant in Austria, where the Porsche Boxster and Aston Martin Rapide are respectively built.

[Source: Auto Express]