Lotus Receives $16 Million Worth of Government Funds

Lotus’ future has been secured with the company awarded a 10.44 million pounds, or around $16 million grant from the U.K. Government’s Regional Growth Fund.

This money will drastically aid in the development of additional Lotus models in the future while also creating 313 new jobs. This grant also marks the second major sum of funds Lotus has received this year as owners, DRB-Hicom announced a 100 million pound fund earlier this year to help reinvigorate the ailing British sports car manufacturer.

Lotus Evora GTE by Swizz Beats

One of the key areas Lotus will focus on in the future is offering additional variants of its current line-up, meaning we’ll have to wait quite some time before we see a completely new Lotus model.

When discussing the grant, Lotus boss Aslam Farikullah said, “This grant is part of a wider strategy for Lotus created to ensure we thrive and grow. 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.

“We have very exciting plans for our sports cars and it’s a very positive move for Lotus that we’re in a position to create new jobs and to significantly contribute to Britain’s automotive industry.

“The team here at Lotus have worked very hard to secure this grant and every employee is playing their part in the stability, growth and future success of our company.”

[Via Autocar]

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