Manufacturing News

Under Geely, Lotus could add crossovers to lineup

Lotus Cars' new Chinese owner reckons that Porsche's successful expansion into crossovers could be a template for the struggling U.K. sports car maker, a senior executive said.

Zhejiang Geely Holding Group signed a deal in June to buy a majority stake in Lotus from its Malaysian owner, DRB-Hicom, securing the future of the company. Now Geely is making plans to turn Lotus into a money maker.

"It has a brand image that hasn't faded," said Carl-Peter Forster, a Geely board member and chairman of Geely-owned London taxi maker LEVC. "It's small volume, but we all believe there is more opportunity than the 1,500 to 2,000 vehicles that are currently sold."

Forster, a former CEO of General Motors Europe, cited Porsche's rapid growth after launching the Cayenne crossover in 2002.

Lotus could easily expand to produce "any size of car and any number of cars" without straying from its brand focus on agile, lightweight cars, Forster said on the sidelines of the Frankfurt auto show. "If you look at a pretty famous southern German sports car manufacturer, they were able to expand the brand without diluting it.”

Lotus CEO Jean-Marc Gales has talked about producing an SUV in the past, but the project seems to have stalled in recent months.

LEVC's new plug-in hybrid London taxi uses a lightweight aluminum platform constructed in much the same way Lotus builds its sports cars. Forster said there would be cost synergies between the companies.

"The team will be happy to provide support if Lotus requires support," Forster said.

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