Dany Bahar, the current CEO of Lotus is reportedly looking for a buyer to purchase the company from current Malaysian parent Proton.

Given that Proton itself was recently acquired by Malaysian conglomerate DRB-Hicom, the reason for Bahar’s strategy is probably the fact that DRB has little interest investing in a small volume specialty sports car brand, especially since Lotus hasn’t earned a profit since being originally acquired by Proton in 1996.

At present, Lotus requires funding of around £500m ($790 million) for the development of future street cars, which includes new Elan, Elise and Esprit models.

So far, no offers for purchasing Lotus have been confirmed, though some sources say that Genii Capital, the international investment firm which currently owns the Lotus Formula 1 Grand Prix team, would seem the most likely scenario, though reportedly a number of Chinese companies have also expressed interest.

[Source: Auto Express]

The German-based Kodewa team will be campaigning a pair of Lola LMP2 Coupes in this year’s FIA World Endurance Championship which includes the 24 Hours of Le Mans. The Lola LMP2 race cars are designed and built in Huntingdon UK and will be powered by an engine provided by the Lotus Group.

The Lola B12/80 LMP2 Coupes will sport a traditional black and gold livery, which was first made famous back in the 1970′s. The famous color scheme will be a nice contrast to the classic blue and orange Gulf Oil scheme that will be seen on the other Lola LMP2 cars this season.

“We have had a very successful winter at Lola with eight LMP cars having been ordered. We believe that new entries in sports cars are recognising the technical capabilities and iconic brand of Lola. It is pleasing that Kodewa, sponsored by Lotus, has chosen Lola to compete in the FIA World Endurance Championship, including the Le Mans 24 hours, this year,” said Martin Birrane, Executive Chairman of Lola.

Lola has experienced great success recently taking the 2011 Le Mans Series and American Le Mans Series manufacturers titles. Lola was also the first gasoline-powered LMP car to finish last years Le Mans 24 Hours. We’ll see the new race cars in action at the first race of the 2012 season at the Sebring 12 Hours race on March 17th.

Try this little experiment: put a pair of headphones on if you can, or just turn the volume up. Skip to the bottom of the page and watch the video, but do it with your eyes closed. Come back and read the article after that.

It’s the kind of outside-the-box thinking one might hope for with a brand launching into Formula One racing for the first time. Although the Lotus name has been around in F1 since 1958, there’s an important distinction: Team Lotus and Lotus weren’t exactly the same group.

The name disappeared from the sport between 1994 and 2010 when it came back under license to Tony Fernandes, an entrepreneur best known for turning once-failing Air Asia into a successful publicly listed company. For the upcoming year, Lotus will run under their own name, while Fernandes’ team will re-emerge as the Caterham F1 Team.

The Caterham CT01 car made the news last week after its photos leaked a day early onto the internet. We don’t have much information on the Lotus car yet, but we do know that 2007 Formula 1 world champion Kimi Raikkonen will be at the wheel.

Watch the teaser below.

Continue Reading…

In a deal eclipsing $410 million, DRB-Hicom purchased a 43 percent stake in Proton, a Malaysian automaker better known for its ownership of the famous British sports car brand, Lotus.

Originally, the stake belonged to Malaysia’s state-owned Khazanah Nasional Bhd. However, as Proton has not made a profit in the last two years, multiple prospective buyers stepped in for acquisition talks before the controlling stake was finally approved for DRB-Hicom, a large conglomerate with a hand in automotive services, transport, and power generation.

This investment effectively hands DRB-Hicom the control of two Malaysian car plants that are capable of producing a combined 350,000 vehicles a year. This production number may increase in the future as General Motors just reached out to Proton last month about a possible manufacturing joint venture in Malaysia so that GM could gain better access into the Southeast Asian market. The talks are not yet complete and it will be interesting to see what effects DRB-Hicom will have in the discussions.

What’s more, DRB-Hicom is also the new private owner of Lotus. Unfortunately, this change puts the future of Lotus into question. Lotus has not been able to make a profit for Proton since 1996, an equities investor suggested that all or part of Lotus would likely be sold. Among those interested in Lotus is Genii Capital, a part owner of Lotus Renault GP.

[Source: Bloomberg]

Rumors of the sale of Lotus by its Malaysian parent company Proton have increased steadily since the appointment of CEO Dany Bahar, who has done little to dissuade the rumors. Rather than a sign of instability, Proton has committed to funding the “new Lotus”, and Bahar’s actions have helped keep the small sports car maker in the headlines.

The latest rumor mongering comes from AutoCar, which quotes Bahar as admitting, “Proton could sell Lotus.” In an interview Bahar outlines three clear paths proton could take, “Proton could keep Lotus, float it off or sell it outright.”

Far from speculating, Bahar is simply spelling out reality, commenting that, “It would be quite understandable if an owner that has invested so much wanted to see a return on its investment, especially if the buyer were a major car maker that could back Lotus for the long term.”

Any return on investment won’t happen, however, until Bahar has built Lotus into a desirable company, one that makes money and one that sells cars consumers really want to buy. At last year’s Paris Auto Show, Lotus unveiled its plan for the future, with numerous new models starting with the Esprit, which is set to launch next year.

GALLERY: Lotus Esprit Concept

[Source: AutoCar]

The New Year may be just around the corner, but it’s never too early to spread some rumors. Proton Holdings is believed to be seriously considering the sale of their Lotus sports car division, a brand that has never made a profit for the Malaysian-based company.

Proton originally purchased the British sports car brand in 1996, but it seemed like a mismatch from the start. Proton specializes in manufacturing sedans and taxis in their home market while Lotus aspires to produce thrilling sports cars. Perhaps the goal was to have a more complete portfolio for Proton, but the lack of profits from Lotus has begun to take its toll.

Even with the new changes Lotus has been making – releasing the above City Car for example – it’s believed that the automaker won’t have the money to fund its future plans, which could be another reason for Proton to sell. There has been reports that China-based Shanghai Automotive Industry Corp. and Luxembourg-based Genii Capital were interested in purchasing Lotus, but both have denied those rumors.

Last year Lotus only sold 1,985 vehicles. It is estimated that they need to sell around 8,000 to turn a profit – yikes.

[Source: Bloomberg]

Knowing that the 444-hp Lotus Evora GTE will be making its way to America makes us giddy. So naturally, when we saw more photos of the most powerful Lotus ever made, we had to share them with the rest of the world.

Up until now, we’ve basically been treated to seeing the Evora GTE under the typical auto show floor lighting. Now we get to see the retina-burning, bright yellow in its natural environment with its 3.5L V6 powerplant ready to rock. These photos really show off what the Evora GTE’s all about, the overall wider vehicle sporting plenty of carbon fiber throughout.

The GTE weighs in slightly over 230-lbs lighter than the standard Evora model and features Lotus’s Automated Manual Transmission (AMT) racing gearbox. Forged center-lock wheels adorn each corner of the street-legal racer, while the inside packs lightweight carbon fiber Recaro seats.

Now we’ll just anxiously await to hear its price tag.

GALLERY: Lotus Evora GTE

Lotus Motorsport achieved a couple of major milestones recently, firing up their first ever IndyCar engine while also giving their Exige R-GT Rally car its first shakedown runs – both of which occurred within 24 hours.

On December 22nd at Dallara’s headquarters in Varano Melegari, Palma, Lotus successfully started up the first official IndyCar engine while under the observance of Group Lotus Director of Motorsport Claudio Berro and his team’s technicians. Once they were satisfied with the overall results from the engine, the team began preparations to have the powerplant and car shipped to the United States where full testing will begin in January.

“The fire up in the car went really well, there were no nasty surprises and I think our partners are going to be very happy with the results. It was only October last year that we announced that we would become an IndyCar engine supplier and just 12 months on, we had an all new Lotus engine and three teams signed up – Bryan Herta Autosport, Dreyer and Reinbold Racing, and HVM Racing. We’ve still got a lot of work to do ahead of the start of the 2012 IZOD IndyCar season but so far I’m very encouraged by what I see”, said Claudio Berro.

Lotus also had their first shakedown runs in their Exige S R-GT Rally car in Turin with the team delighted with the results. Testing on the rally car will continue in the new year in preparations for the 2012 FIA World Rally Championship where the Exige will compete in the FIA GT category. It’s powered by a 3.5L, supercharged powerplant and looks to be a formidable race car in the series.

GALLERY: Lotus IndyCar Engine and Exige R-GT Rally

To the race fans and cinema buffs that missed Senna‘s limited release this summer, Christmas came early.

Officially available as a digital download, the award-winning documentary of the most celebrated modern Formula 1 Driver can now be watched on Netflix Instant Streaming and on iTunes.

Unfortunately, Ayrton Senna fans that would like to have a copy on their shelf will have to wait. While the European region 2 release of the Senna DVD and BluRay have been available on amazon.com for months, the North America Region-1 NTSC DVD won’t be available until March 6, 2012 while no official release date has been announced for BluRay yet.

Check out the Senna trailer after the jump: Continue Reading…

Every year an automaker is chosen to be celebrated at the Goodwood Festival of Speed with an artistic installation directly in front of the historic Goodwood house in West Sussex, England, and a host of classic and shiny new cars on display. For 2012 it will be the iconic English brand Lotus.

This acknowledgement comes at important time in Lotus’ history, both when looking into the future and consulting the past. In 2012 Lotus will celebrate the 50th anniversary of the Elan sportscar, the 40th anniversary of the Espirit supercar concept unveiling, the 35th anniversary of the 78 ground effect Lotus F1 car competing for the first time and the 20th anniversary of cyclist Chris Boardman winning a gold medal at the Barcelona summer Olympics while riding the type 108 bicycle developed by Lotus. Next year will mark a big year in the company’s history as well, when the new 2013 Espirit supercar is finally unleashed.

The Goodwood festival’s chosen Marque is always an honor that is bestowed upon a company the organizers feel have had a major influence on car culture and automotive history. Some of the companies that have been celebrated include Jaguar, Audi, Alfa Romeo, and Land Rover just to name a few.

The 2012 Goodwood Festival of Speed begins on June 28 and should be a great celebration of Lotus’ past accomplishments and future endeavors.