Lotus has received nearly $17 million in the form of a government grant, money that will be used for research and development, helping create over 300 new jobs.
The funding comes courtesy of the Regional Growth Fund (RGF), which awarded Lotus £10.44 million.
“This grant is part of a wider strategy for Lotus created to ensure we thrive and grow,” said Aslam Farikullah, COO at Lotus.
The British automaker expects to create 313 new full-time jobs as a result of the grant and looks forward to further supporting production over the coming years.
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“We are responding to increased global demand for our cars and engineering consultancy services and this grant will help to position Lotus at the forefront of global automotive innovation.”
RGF is a flexible and competitive fund that operates across England from 2011 to 2017 and supports projects that utilize private sector investment to help create economic growth in the country.
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