Lotus

Lotus History

 

Lotus Cars is a British manufacturer of sports and racing cars based at the former site of RAF Hethel, a World War II airfield in Norfolk. The company designs and builds race and production automobiles of light weight and fine handling characteristics.It also owns the engineering consultancy Lotus Engineering, which has facilities in the United Kingdom, United States, Malaysia and China. By 1982 the company was experiencing severe financial difficulties and Chapman sought additional capital from outside sources. The crisis resulted principally from the fact that only a handful of Lotus cars were sold each year in the world's largest market, the US. These problems were solved by a young law professor and investment banking consultant, Joe Bianco, who was able to capitalize a new and separate United States sales company for Lotus. By 1982 the company was experiencing severe financial difficulties and Chapman sought additional capital from outside sources. The crisis resulted principally from the fact that only a handful of Lotus cars were sold each year in the world's largest market, the US. These problems were solved by a young law professor and investment banking consultant, Joe Bianco, who was able to capitalize a new and separate United States sales company for Lotus.

Lotus is owned by Proton, which acquired it following the bankruptcy of former owner Romano Artioli in 1994. In 1986, the company was bought by General Motors. On 27 August 1993, GM sold the company, for £30 million, to A.C.B.N. Holdings S.A. of Luxembourg, a company controlled by Italian businessman Romano Artioli, who also owned Bugatti Automobili SpA. In 1996, a majority share in Lotus was sold to Perusahaan Otomobil Nasional Bhd (Proton), a Malaysian car company listed on the Kuala Lumpur Stock Exchange.



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