Lotus Receives Financial Help From British Government
The small British sports car manufacturer, always faithful its diehard cars of the 1970s, has received a grant of 10 million pounds (British currency) equivalent to CAD $17.1 million paid by the British government.
It’s an amount that will allow the manufacturer to better cope with its financial woes, and to hire 300 people.
DRB- HICOM, the new owner of Lotus, had already paid 100 million pounds ($170.1 million) over the course of the present year to restructure the brand and develop new models. The company is a massive Malaysian conglomerate specializing in the production and distribution of various brands of vehicles, including Honda, Isuzu, Mercedes- Benz, Suzuki, Tata and Volkswagen. It is also a company that works in the real estate and infrastructure sectors.
The amount paid by the British government to Lotus comes from a fund called the Regional Growth Fund created to help the growth of the national economy.