British sports car firm Lotus has been battling with finances and trying to secure its future ever since its parent company Proton, which was Malaysian state owned, was sold to DRB-Hicom.

Now, there is once again good news on the horizon. Lotus Cars has secured enough investment from DBR-Hicom to continue production at full capacity within the next few days, as production was halted last month over financial concerns. Plus Lotus will be once again able to start work on its new wave of products, which starts with the new Esprit supercar, coming by the end of 2013.

The company is planning to introduce four new models within the next five years, while in the mean time focus remains on production of the Evora, Elise and the new Exige S (pictured), which has just been launched in Europe.

For some time, it looked like Lotus would be sold to the Chinese, but CEO Dany Bahar says; “It’s just not true. There is no fire sale, no selling process and no bidding. If there were, lots of strange people would be here doing inspections and due diligence, but there is nobody. Besides, I have no authority to sell the company. That’s a job for the shareholders. I am just an employee.”

That being said, new details have emerged which suggest the company will be sold to a Chinese buyer.

So, is this the end of troubles at Lotus? That only time will tell.

For now, Lotus is back in action and will also be actively taking part at this years Goodwod Festival of Speed, where it is the featured marque. This year also marks the 60th anniversary of the Hethel based company.

[Source: Autocar]

The signing of 2007 F1 champion Kimi Raikkonen to Lotus Renault GP for the 2012 season is generating quite a stir in Grand Prix circles and so far in testing, the team’s new car, the E20 has shown a lot of promise.

At this year’s Geneva Motor Show, Lotus Cars had further news to announce, namely the hot new Lotus F1 Team Evora GTE and the Exige S Roadster. The former pays homage to Lotus Formula 1 history, sporting an unpainted carbonfiber body with copper accents that simulates the traditional F1 livery. There’s also specially trimmed bucket seats with gold piping and exclusive Lotus F1 Team Special Edition appliqués.

Other features include weight savings of some 100 kg and a 3.5-liter mid-mounted V6 that’s been tuned to deliver 444 horsepower, giving it one of the best power to weight ratios of any street going performance car. Lotus has said the F1 Team Evora GTE will be available in Europe by early summer.

As for the Exige S Roadster, it essentially combines all the attributes of its hard top counterpart; supercharged 3.5-liter V6 engine, lightweight chassis and optimally tuned suspension. Lotus says it will dash from 0-100 mph in just 8.5 seconds and is the first Exige model to be fitted with a lightweight removable soft top roof.  Two transmissions will be offered, a proper six-speed manual and a Serial Precision Shift automated manual for those that want the convenience of shiftless driving in town but full gear selection control when they need it.

Kimi Raikkonen, who attended the Geneva Press conference said, in regards to the Lotus F1 Evora GTE, “I would love to have this as my company car.” For a man whose used to driving at serious triple digit speeds, that’s a serious compliment.

GALLERY: Lotus F1 Evora GTE and Exige S

The current Lotus Exige is on the way out. Production has stopped for the European spec model since last December, because its current 1.8-liter, four-cylinder engine does not meet current emission standards. And here at home, Lotus just announced a Final Edition model to bring the car’s run to a close.

So what is Lotus to do with the Exige now? Simple answer, make a V6 version with the engine out of the Evora. But it is no easy swap. The Toyota-sourced V6 engine is bigger, so Lotus has been running a test mule with a wider track and a longer wheelbase.

Don’t think the next Exige will be some Frankensteinien-like disfigured monster either, cobbled together hastily. The new car will be mostly new and its styling will be quite different. Lotus design boss Donato Coco thinks their current line-up looks “too weak” and wants to inject more style in their future models.

So expect the new Exige to have the new family look as previewed by Lotus at various auto shows over the last year. Their first completely  new model will be the Esprit, which is due in 2013.

For the time-being, an updated Exige along with the current Evora should allow Lotus to bridge the gap between their current and their future cars.

[Source: Autocar]

The original Lotus Elan was an icon, a two-seat, four-cylinder roadster that weighed 1,400 pounds and was the inspiration for the Mazda Miata. The new one couldn’t be more different.

Styled in the same vein as the new Esprit, the supercharged 4.0L V6 makes 450 horsepower and an optional hybrid system help rocket the Elan to a 193 mph top speed and a mid-3 second 0-60 time.

The 2+2 configuration suggests that this car might replace the Evora, which seats 4, although the $118,500 price tag is quite a bit more than the current Evora’s sticker.

Gallery: Lotus Elan

Lotus CEO Mike Kimberley has announced his retirement as the head of the U.K. based sports car maker due to medical reasons. The 70-year-0ld Kimberley has been suffering from severe back pain, underwent surgery in 2008 and has now been advised by his doctors to resign his position.

“Sadly, it is on doctor’s orders that I am stepping down but I will leave confident that Lotus is in great shape with a strong management team fully supported by our shareholder in Malaysia,” Kimberley said in a statement. “It’ll be very hard to leave knowing that there are such exciting times ahead but I’ll take with me many very happy memories. I want to extend my thanks to the company’s shareholder for their unfailing support, my management team and the wonderful staff both at Hethel and at our various operational locations throughout the world. Most of all I want to thank our Lotus customers and loyal fans worldwide for their support over the years.”

Kimberley started his career with Jaguar in 1953 and has since worked in the automotive industry for 56 years. He joined Lotus in 1969, leaving in 1992 to pursue other opportunities with companies like General Motors and Lamborghini, before returning to Lotus in 2006.

Since then Kimberley has over seen the production of the Evora, as well as the expansion of Lotus Engineering, a world renowned high-tech engineering firm.

Kimberley will officially retire on tomorrow, July 17th.

Official release after the jump:

The Chief Executive of Group Lotus, Mike Kimberley, announced today that he is stepping down from his role due to an ongoing back problem. An Executive Committee comprising current Group Lotus board members supported by the shareholder, Proton Holdings Bhd, will assume day-to-day control of the business until a successor is appointed.

Mike, who will be 71 in August, has been suffering from severe back pain for a number of months and underwent surgery in late 2008 which was only partially successful. His doctors have now advised him to retire so as not to jeopardize his long term health. Under these circumstances, the board has regretfully accepted his resignation.

Dato’ Syed Zainal, Managing Director of Proton Holdings Bhd, said: “It is a great shame that Mike’s health has forced his departure earlier than any of us would have liked. He has been a great asset to Lotus over four decades. Since his return in 2006, we have seen a huge turnaround in the fortunes of this great company. He leaves Lotus with our deep gratitude and our very best wishes for his retirement.”

Under Mike’s leadership, Lotus has produced the award-winning Lotus Evora, which was recently launched to the world’s press with universal acclaim. He has also overseen the expansion of Lotus Engineering, one of the world’s most respected high-technology engineering consultancy businesses. Group Lotus now has a positive and stable platform despite the global economic downturn and is delivering against its defined growth targets in the company’s strategic business plan.

Mike Kimberley said: “Sadly, it is on doctor’s orders that I am stepping down but I will leave confident that Lotus is in great shape with a strong management team fully supported by our shareholder in Malaysia. It’ll be very hard to leave knowing that there are such exciting times ahead but I’ll take with me many very happy memories. I want to extend my thanks to the company’s shareholder for their unfailing support, my management team and the wonderful staff both at Hethel and at our various operational locations throughout the world. Most of all I want to thank our Lotus customers and loyal fans worldwide for their support over the years.”

Mike will leave Lotus on 17 July 2009.

ENDS

NOTES
Mike Kimberley – a Very Brief Resum
e
Michael J. Kimberley (“Mike”) C.Eng., F.I. Mech. E., F.R.S.A., F.I.E.D, F.I.M.I has had a remarkable career in the motor industry over the last 56 years, working with some of the great engineers, innovators and leaders of the worlds motor companies.

Mike started as an apprentice with Jaguar in 1953 before rapidly progressing to becoming in Section Leader, Special Projects at Jaguar in 1965 where he lead the team developing the Jaguar XJ13 Le Mans car, under such famous names as Jaguar founder Sir William Lyons and Jaguar race director Frank (Lofty) England.

In 1969, he joined Lotus as Manager of Continuous Engineering, with the Lotus Europa Twin Cam being one of his most notable projects. Mike rose steadily but rapidly through the Lotus ranks, joining the Board of Lotus aged 37, and becoming Managing Director of Lotus Cars in 1976 and Managing Director of Lotus Engineering by 1980, being responsible for such Lotus icons as the Esprit, Eclat and Elite.
During the 1970s and 80s, Mike had the unique experience of having worked closely with the company’s founder Colin Chapman, with whom Mike set up the world class Lotus Engineering consultancy to enable Lotus to work for many other cars companies around the world. Lotus Engineering is now a globally recognised high technology engineering consultancy and serves many of the world’s car companies.

After Colin Chapman’s tragic and untimely death in 1982, Mike became C.E.O of Group Lotus plc, as well as holding board positions with a number of Lotus associated companies such as Chairman of Millbrook Proving Ground and President of Moog Systems Inc. With Lotus under General Motors ownership, Mike became Chairman of Group Lotus plc before leaving Lotus in 1992 to become Executive Vice President (General Motors Overseas Corporation) based in South East Asia. Two years later, Mike became director of the Vector Aeromotive Corporation, and in 1994, he became President & Managing Director of Automobili Lamborghini S.p.A, being responsible for the rebuilding of Lamborghini after Chrysler’s ownership and prior to its sale to Audi AG, as part of the VW Group.

In the mid 1990s, Mike left Lamborghini and worked directly for Tommy Suharto as a board member of Timor Putra Nasional (owners of Lamborghini) until retiring with an undiagnosed tropical fever.

Returning to the automotive industry a few months later, Mike worked in a consultancy role for a number of organisations including Tata Motors Ltd.

In August 2005 Mike was appointed to the Lotus Group International Limited and Group Lotus plc Boards as well as other Boards of Proton. He was appointed acting Chief Executive Officer of Group Lotus plc in May 2006, confirmed as Chief Executive Officer of Group Lotus plc in September 2006.

During his second tenure at Lotus, Mike has been responsible for the creation and execution of a new 5 year strategic business plan, and the new, already award-winning Lotus Evora is the first of the range of new Lotus cars to be designed, developed, manufactured and sold by Britain’s most iconic and innovative sportscar company. Lotus Engineering has expanded to become a world-class consultancy employing over 500 highly qualified engineers in five technical centres around the globe. It is revered for innovation, outstanding driving dynamics, exciting niche vehicles and efficient performance engineering.

Mike (70) is married with 3 children and 3 grand children and lives in Norwich.

In press release issued by Lotus Cars, the British exotic car maker takes issue with recent reports that a new Formula 1 team for 2010 will run under the banner of Team Lotus. The new team, however, says that’s not the case.

U.K.-based Litespeed Racing has already secured a sport on the 2010 F1 lineup and decided to run under the Team Lotus name, with the permission of the name’s rights-holder David Hunt.

When Lotus Cars Limited heard of this, it issued a release which clearly stated that, “Group Lotus plc will take all necessary steps to protect its name, reputation and brand image,” a thinly veiled threat that the automaker will seek legal action if Litespeed continues with its plans.

That all seems straightforward enough, except this morning a report in AutoSport suggests information to the contrary. An unnamed source inside the newly formed Team Lotus said, “We’ve kept Lotus fully informed of our intentions and are well aware of the need to protect its brand image. We look forward to having closer ties with it in the future.”

Is this all just a big misunderstanding, or is it possible that Lotus Cars has been made aware of Team Lotus’s plans and is not amused?

[Source: WorldCarFans and Autosport]