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Lotus Cars Receive £10 Million UK Government Grant

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The grant should breathe a new lease of life into Lotus.

The Regional Growth Fund (RGF) has awarded Lotus £10.44 million, which will be used for research and development of products, along with staff training.

The grant is a further boost for Lotus, following a £100 million investment by its owners DRB-Hicom. The investment has allowed the company to enhance its engineering, productivity, efficiency and quality. Since then, Lotus has recruited more than 130 new personnel.  The RGF-awarded grant is expected to create more than 300 new jobs at Lotus.

Business Secretary, Vince Cable said, “Lotus is an iconic British car maker, with some of the most innovative engineers in the business. The car industry is one of Britain’s great success stories, employing over 130,000 people and helping to build a stronger economy by contributing £11 billion a year. The Government’s industrial strategy is working and giving business the confidence to invest, creating more high skilled, long term jobs in the UK”

Regional Growth Fund (RGF) is a flexible and competitive £3.2 billion fund operating across England from 2011 to 2017. It supports projects that are using private sector investment to create economic growth and sustainable employment.

Source: Lotus

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About Jack Lee

Jack Lee is an unqualified petrol head (some say, to be one, you have to own an Alfa Romeo) who is disappointed with cars which are getting more and more electronics and the lack of interest in cars shown by today's youths in general. He owns an almost 20 year car from Germany, which has almost 50:50 weight distribution, 3 pedals (manual, FTW!) and believes that everyone should spin at the last corner of Sepang circuit at least once in their life. He also holds the distinction in TCG as the person with the lightest right foot, of course, when compared with his colleagues' mutated cast iron right foot.

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