If you’ve been waiting for the new Lotus Esprit or Elan to enter the scene, well, the news is that they’re not going to show, at least not in the forms they were seen in two years ago. DRB-Hicom group MD Datuk Seri Mohd Khamil Jamil has revealed that the five Lotus concept cars shown at the 2010 Paris motor show will not happen, and that their development plans were cancelled before the group acquired Proton.
Speaking after the press conference held during DRB-Hicom’s media drive event that took place over the weekend, Mohd Khamil said: “We went into a meeting with KPMG, who told us the plan was invalid.”
The ‘Paris five’ were the Esprit, Elan, Eterne, Elite and the new Elise, which was supposed to replace the current one. The show cars were not running prototypes, and nothing was then set in stone.
All that was made out then was that three different chassis configurations – small mid-engine, big mid-engine and front engine – were to be utilised for the five. Work on the Esprit had been ongoing for a while prior to the show debut – whether it translates to a future offering based along those lines remains to be seen.
As for the brand, Mohd Khamil reiterated that there is no intention of selling Lotus, evidenced by the recent opening of the Lotus showroom in Sungai Penchala, PJ and the Malaysian launch of the Elise S and Exige S models. Nonetheless, with the relative exception of the Evora, models such as the Elise and Exige are over a decade old, so there are inevitable questions as to how long they are expected to soldier on.
The group, however, remains confident in the cars’ ability to continue flying the flag for the brand. “They may be old, but they remain good cars and there is still demand for them,” Mohd Khamil said. “Lotus is also supplying technology to quite a number of OEMs.”
He also divulged that we can expect replacements for the Exige and Evora by 2015 or 2016, with a newly-developed platform and engine at the heart of things. No confirmation about whether the platform will be a carry-over or evolution of that from the Paris cars.
With regards to the £270 million loan (RM1.3 billion) from six financial institutions, Mohd Khamil said that the loan has been used up, with £88 million (RM425 million) pumped into Lotus to date, adding that the loan was to be paid back when it matures.
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no Esprit.? lotus?
RM1.3 billion loan has been used up and now said these concept cars wont be sold?
Bravo!!! It only happen in Bolehland!
Let it be! Let it be! Let it be …….
Where the money went?
As much as i support owning the lotus brand. It just doesn’t make sense to keep Lotus without any plan for production. I mean….. it is just so f*cked up
Oh yea I remember now, Lotus F1 and suing Danny Bahar and Tony Fernandez. Maybe the rest became pocket money.
Somebody pocket lor…simple as ABC.
“Credit” must surely go to the previous Lotus CEO.
i don’t think it is in Bolehland, unless UK is considered as new Bolehland territory.
How stupid ppl do not understand what they read!!!!
come on Proton.. just sell off Lotus then get the cash to focus on R&D. stop fooling consumers that Proton cars have tuned with Lotus standards this and that blah blah blah.. cause you know the quality-made kind of shows that it doesnt bloody has anything to do with Lotus!
tell it to the DRB guys la bro, proton has no power over selling anything anymore. even there is a rumor saying that DRB will take out Lotus from PROTON and put it inline as a subsidiary company
Ya loh, if DRB guys do not know how to manage a huge loss making company, let other people take it, if they can do better.
Don’t bog down the brand !
As for whether finally Lotus can make or break it, remain to be seen. For the moment, there are many cars out there with better prospect than a Lotus !
Listen!Listen!Listen!Listen! We aim to reclaim top spot of M’sian market, we don’t want to lose another place to Pro2’s father, Toyota who’s hounding us closer this year. That’s why we axed that 5 kids. Respect us! The ultimate taiko!
at least bring 1 out of 5 concept car into reality. please.
What Lotus now has in common with Proton:
1) Owned by the same bunch of dUmno cronies
2) Can only go down hill in the years to come with no new developments
3) Not making anymore new cars / lacking in passion
4) Only great at creating lawsuits against others with no major gain, in turn making themselves go backwards
I know proton has stagnated growth, but don’t drag lotus down as well.
The esprit was reported to have ready , I mean its been like in development since 08. It would be a pity, the new Elies ,Élan or Elite to be axed I am fine with that. The Etern, supposedly a 2017 launch, to be axed is a bummer considering it really look better than any 4 doors out there. But the Esprit to be cancelled!!!!?
f**k you DRB. Don’t Malaysianise Lotus, I rather see Lotus in a different hands or to be closed down altogether than seeing it suffering in your hands.
It’s like a bargaining chip for DRB, they won’t give it to another hand unless there’s huge amount of money or technology offset. But I do think Mercedes, BMW and VW group will be very very interested.
HAHAHAHAHAHAHA….Comments came from POSER. Why must care about LOTUS who are you man? Owner of Lotus?? Pioneer of Lotus?? I think you just DAP idiot who drive toyota brand and talk like Ahsoh.
“and that their development plans were cancelled before the group acquired Proton.”
Who cancelled it? DSZA?
DRB should help Lotus to focus on improving customer service and dealer network in UK before looking at new models. So imo this is the best move.
Lotus customer service in the UK is just fine. That is not the issue. The issue is the lack of new models. The Elise is 17 years old already (It first came out in 1996).
Colin Chapman will be upset if he hear this.
Lotus should be a good brand and with years of heritage of motorsport pedigree. Now, it runs by a company that barely make it runs.
Those models of concept car from Lotus are absolutely good. It’s good enough to compete with the branding giants like the Lambos and Ferrari.
But now, they had no modal and an engine that competes with them.
Lotus still depends on Toyota engine because of the bloody US emmision. Do like what Zonda did and lie.
Please don’t tell me to “Listen, listen, listen x10” if you know what I meant.
That’s the problem. Colin Chapman is Lotus. With him gone Lotus is just a shell.
very soon lotus will die…..loan from malaysian bank who want to pay…..
Lotus alone will be the downfall of proton,just sell the bloodscuking company and move one towards in house improvement.When the parent company itself is limping,how can the child company prosper?
And 270million tax payers money has once again gone down the drain?good job Najis for pushing for that loan at that time.
Good brand going down the drain…..
Lotus never been a good brand, it just a overrated brand.
I don’t like your comment.
You see Lotus as when it was owned by a Malaysian company.
Back in the days, Lotus is the world. Winning the F1 Grand Prix, star in the James Bond Film. Of coarse, it was criticize to be unreliable. But who cares. It’s Colin Chapman baby, it has the same DNA as Aston Martin, Ferrari and Lamborghini. Suppose to be a good company but runs by monkeys who barely make it running.
hoho.. unreliable car.. but who cares?
shut up and take my money..
Loan was used up but nothing come out.
Typical proton..
why not typical suzuki.. DRB also producing suzuki mah… nothing to do with PROTON… ohh what a crap… just a waste of my time explaining to you… you wont understand a thing
According to the man who spoken (to the article), it was cancelled before Proton was acquire by DRB. Which mean it was cancelled by Proton or Lotus themselves, which, has nothing to do with DRB.
I hope my time is not wasted explaining the relation to you. Hope you can understand.
No more new model. Another 5 years for new model. Keep adding 5 years. Maybe they will run this model for another 100 years.
A lot of hanky panky in these 2 companies.. if the mighty DRB could not to turn over these companies it may be better for them to die.. The cancer is so severe beyond imagination…instead of giving false hope to Malaysian, might as well close shop…
Loan is supposed to fund the “grand plan” but the plan goes nowhere… The money was used to stay afloat.. What a shame…
Sorry DRB u bought 2 cans which are full of worms.. The only thing u could do is to recycle the can.. Hehehe
But if u could turn them around, hat off to u..,
These Syed Mokhtar people are only interested in land, land, and land only. We all probably heard it already that they want to move Proton’s operation to Tanjung Malim. So, what would happen to the thousands of acre of prime land in Shah Alam? Develop lah!!
Just like any other GLCs with a lot of land bank which they acquire. Same story with POS Malaysia.
Next up, KTMB.
So, to expect them to pump in extra juice to rejuvenate Lotus? In our wet dreams lah. They will never do that despite billion of ringgit made through government privatization exercise.
Lotus will continue to die a natural death…
And we will all continue to pay exorbitant price for import makes.
So, any of you out there giving nonsense excuse like Syed Mokhtar symbol of Malay and National Economic Policy success and all those crap, please open your eyes wide.
wah really huh… share lah with us a bit of info that you have from DRB management… I also want to know…any proven paperwork on this speculations…. I really need to know… need to decide to move over or stay.. PLEASE PLEASE….
could anyone give a proven paperwork that Israel controls USA? dont leave comment if you dont have the head to type it brilliantly.
Ya loh, should learn from Robert Quok or Vincent Tan instead. They are the symbol of Chinese success without the help of National Economic Policy….at all.
Really?…Vincent Tan?
Is this the same Gambling Taikoon Vincent Tan?
Whoa dude, why stop at Syed Mokhtar? why not extrapolate further on other names such as Robert Kuok, Ananda Krishnan, Lee Kim Hua, Lee Shin Cheng, Teh Hong Piow, Quek Leng Chan, Yeoh Tiong Lay, Tiong Hiew King, Vincent Tan, Lee Oi Hian & Lee Hau Hian whose earnings are on par and even higher than Syed Mokhtar’s?
Like I said before, ALL of them became successful without the help of NEP..at all. Syed Mokhtar, who is a Malay, became successful because of NEP. Unlike those people who work “hard” and “independently” without any tongkat.
[Sarcasm mode off]
Robert Kuok? Sugar king?
He sells sugar, government subsidized sugar. People buy baaanyak sugar because the price is relatively ‘cheap’ compare to our neighbors.
Robert Kuok sugar sales is so good because of the subsidy itself.
He could have sell the sugar outside? without any additional cost? Malaysian sugar is cheaper than Brazil?
Sorry, he doesnt qualify. :)
Wow, you see once I typed [Sarcasm mode off] suddenly I got so many thumbs down compared to my earlier post.
That’s my point dude, I’m referring to Painters’ remarks “So, any of you out there giving nonsense excuse like Syed Mokhtar symbol of Malay and National Economic Policy success and all those crap, please open your eyes wide”.
Clearly have to read between the lines with these people.
Sugar demand is non-elastic. Even if the price skyrockets, the demand falls just a little. Say price increase 100%, sale quantity reduce 10%. He would be a LOT richer this way actually. Which is why sugar is a price controlled item. There’s some subsidy to the manufacturer to offset the cost AND regulations to keep sugar supply in malaysia sufficient.
Good one CNBB, unfortunately most do not get what you’re stating, despite the obvious.
Work hard independently without tongkat? You clearly don’t have any idea do you?. If not for Mahathir, Ananda wouldn’t be where he is right now.
add Tony F to that equation too..
DRB don’t make their own branded car. They don’t design cars. All they do is contract manufacture for other people and then distribute them. How are people with limited experience in the automotive industry going teach Lotus how to better run their company????
Just use Proton plant to build cheaper version Lotus car here in Malaysia and mass production.. Then Proton will need very less R&D costs. Everyone can afford a Lotus here. Won’t it be nice? Anyway, I am just dreaming…
“Nonetheless, with the relative exception of the Evora, models such as the Elise and Exige are over a decade old, so there are inevitable questions as to how long they are expected to soldier on.
The group, however, remains confident in the cars’ ability to continue flying the flag for the brand. “They may be old, but they remain good cars and there is still demand for them,” Mohd Khamil said. “Lotus is also supplying technology to quite a number of OEMs.”
Seems that proton’s corporate mentality/strategy is rubbing off unto DRB cause . Ten year old car. One new one (not so new now) and sell because of brandname.
Khamil Jamil don’t even know what his company he’s holding is doing, had to ask external accountants to tell him what they’re doing?
Well guys, there you have it. DRB don’t know shit, don’t even know if KPMG was trolling them.
“Five concept cars canned, brand won’t be sold” reads to me as “DRB wanna songlap, charge it to Lotus who’s gonna do nothing basically”
Sorry guys but I better stick to my Porsche Cayenne lah He He He
“With regards to the £270 million loan (RM1.3 billion) from six financial institutions, Mohd Khamil said that the loan has been used up, with £88 million (RM425 million) pumped into Lotus to date”
Ermm so what happened to the balance of GBP 182m..? All went to building the new showroom?
Simple…All goes to somebody pocket lor….
Such a waste of RM1 Billion loans…itu bankers tunggu apa lagi pergi kutip hutang sama grandfather Proton lah He He He
Now Lotus can ‘focus’ on coming out with cars which WON praises by enthusiasts BUT ignored by drivers…
What lie is this? He said the cars were cancelled before they took over, yet how come an insider told autocar uk on november 20th that it was close to completion but held back by management issue? Wtf??
they take loan to feed their own pocket ma…then if get extra only they give to Lotus..but i’m pretty sure no extra for lotus..then Proton sure will suffering to pay for their ‘lotus’ debt..then government sure will pump the money to Proton again..that’s how business run here in Bolehland…
Sad news in deed, but looking at the big picture, Lotus has and always been an engineering company rather than a car manufacturer. Manufacturing cars is some sort of a side-hobby to them in showing what can their technology be in the form of a car. which is why they haven’t really focusing on selling cars, rather than selling their tech. having said that, I do hope Proton or DRB can fully utilise Lotus as an Engineering/R&D arm for all car manufacturers under DRB.
Unfortunately that is unlikely to happen because one of the things DRB did when they took over Proton was to string Lotus engineering capability in Asia by closing Lotus Engineering Malaysia, which incidentally was the only profitable business unit in Lotus. Makes you wonder doesn’t it??
Blame it all on Dr M.
To cancel the plans is suicidal. People buy a car brand because it is respected and innovative. People get bored with old models no matter how good they were. Look at the competition. Car design and technology improve all the time and people want to enjoy the latest. When the 5 Lotus models were shown to the world, there was renewed interest and hope in the brand. Now DRB is pulling the plug and spoiling everything. You expect people to pay top dollar for an old model when there are better ones out there? Not a very smart move, in my opinion.
“… and that their development plans were cancelled before the group acquired Proton”
sure… everybody would believe that would they… come on… that is the lamest excuse on the book… 5 of these models received millions of thumbs up, not just in Malaysia… even if lotus drained these cars, DRB should revive the plans… surely both brands would get benefits… but nooo… all that they had in mind was… preve is good enuf… let’s stick with that… stupid Dumd Reckless Blokes berhad…
in car industry, if you don’t launch new model, you will die
depends…some like to do facelift after facelift and yet remain as best sellers.
lol Toyolta and Peluhtua
the concept are Gorgeous…
sayang betulll
suruh Proton build la…
The real value in Lotus lies in what its doing for other companies, thats why DRB want to keep Lotus. Lotus sold a wonderful 137 new cars in the UK for 2012, just over 5000 new cars shipped worldwide for the same period, not exactly raking in the profits with those numbers are we? Parent company Proton managed to sell 208 new cars in the UK during 2012, question should be asked as to how much is their overseas ventures actually costing Proton,aka DRB…
In direct translation from DRB: No idea what to do with Lotus, but squeeze as much money from thr brand. well done DRB well done.
Life cycle for cars are very short. No new design, surely will die a slow death. Looks like Lotus will be heading the same path as Proton.
Ponder the following:
Plane, MAS fails.
Train, KTM fails.
Submarine, also fails.
Motorbike, sold for euro$1.
Bicycle, Proton T Bolt fails.
Car, Proton struggling for survival.
Sports car, Lotus continue selling old models.
Ternak lembu, fails.
What else can fail? I am really lost for words.
Biasa lar…Ini Malaysia mah….
Is this what we get after Proton guaranteed a GBP240 million loan to Lotus (under previous CEO Danny Bahar)? Five stillbirth new Lotus cars? I am waiting for some wise guys to spin it as a good deal.
That’s one bloody billion ringgit, if we care to count. Down the bloody drain to prop up the economy of a first world country i.e. Great Britain. Having more dollar than sense is an understatement.
good move Kamil
Do learn the way they suck proton money,when your supplier can supply stuffs there, then it will be the right time to re kick off relevant project.
Bear in mind,lotus is really in a bloody mess due to lavish brits lifestyle and nobody in proton care about that before
I bet if the origin owners of lotus knew about what hicom is doing, they will wake up from the graveyard and haunt them. Hicom cannot even take care proton. Can someone tell me a company do not know how to run in local almost monopoly market how could they know what to do with lotus. Hicom piece of shit
KNN CB .. sucks our ppl’s money and ruin a good brand at the same time !!
It’ll be a big shame if the new Lotus Esprit is confirmed to be canned as well,although I think this mainly got to do with Lotus’ concern on the recources needed to continue the development.The demand for the current Elise and Exige will surely gone down very soon.Lotus needs new models if it wants to survive in future. Why the Lotus and DRB Hicom bosses not thinking about replacing the current Elise model, with a new Elise replacement model, with better quality, affordability and practicality? This could a less financial-straining exercise, and at the same time you got a new model to liven up the brand once more?
Adding to the heat, Proton aka DRB has racked up MYR 88 million until today but nothing has been done so far and they promise to pay the debt when it’s mature. WTF?? Another newest headlines claimed that DRB announced that they will sell 500k proton vehicles including exporting to other countries by this year. Can or not?? I was wonder where is their real direction acutally or who are they taking orders to do this and that. Sounds very annoying….
They only know how to bullshit. i tell you proton cannot sell 500 k. Later they will tell you baahhhh sorry we cannot reach our target due to thisssss. its all bullshit
Look at the banks just keep quiet about RM1 Billion hutang…manyak bagus ini bank slow pelan-pelan kutip hutang
For ordinary car buyer lambat bayar loan kereta and get ready they send AhLong to your house angry face mau makan orang He He He He
these banks may treat it as contribution to cronies for sake of to be able to do business and in the other hand try to find ways to suck the money back from rahyat to cover losses.
business + malaysian politics + cronism = bye bye business and profit
C’mon laa DRB… at least let Esprit makes its debut.. Esprit name is one of the Lotus’s icon.
Bro, Esprit dah gulung tikar…period.
look at how Tata transformed Jaguar and Land Rover, and it only had these companies not that long ago. learn from there lah
Expected when first brought in as concept cars. No surprise. Lotus Style! Everyone talks nobody works
At least Proton/Lotus is firmly established as a class leader in feel-good announcements…however, they also lead in zero execution. I wonder why…
“We went into a meeting with KPMG, who told us the plan was invalid.”
So, whoever convinced our local banks to lend the RM 1 Billion loan to Proton must be a genius…ingat senang kah mau kelentong bank kasi pinjam duit…RM1 Billion pulak tu..must give that fella Tan Sri title lah He He He He
Not to forget mention milking lots of $$$ and heavy various investment, now they want capture famous Penang Port too to monopolise shipping and logistic in domestic Malaysia. Sorry DRB, that is our country “national assets”.
The money all gone due to DRB..all canned in who pocket? Hangat hangat tahi ayam..
So many business, political and economic experts here in an automotive forum… Must be tycoons, lawmakers and professors…
Not gonna be sold ? What’s the point of having those shown in Paris back then ? Proton you f**king shit !
It has nothing to do with proton. actually the loan taken from 6 institutionals are for Dany bahar to renovate his rented house previously. :-)
Yes it’s a rented house, than is there anybody who would expect a LOTUS CEO live in an ‘ordinary rented’ house and try to convince his client to buy his upcoming luxury sports cars? It’s comparable to how you would find a Proton and a Porsche showroom. If DRB can’t draw this line clear, than I guess they’re still not ready for a sports car brand, be it selling or making! Or they just keep Lotus brand to rot until there’s no value left.
englishman jaga lotus pun tak sanggup…
They’re highly intelligent people. Car makings are low yield high cost industries… suitable for developed countries to do/own (and German,Japan Detroit incl), and they buy cars at only 3 or 4x their salary only, and they sell us back expensive EPL broadcast just for example.
Insyaallah DRB boleh buat pembaharuan.Bukalah website DRB klik ke Automotive. Cuba tengok berapa company automotif di malaysia ni dia pegang.Jujur dlm bisnes itu pegangan Tan Sri Syed Al Bukhary. Bacalah buku biografi dia.SPM pun tiada. Tapi sekarang siapa beliau.
so when will Lotus sell for 1 Euro?
this joking fiasco already shown corrupted cronies not able to run MNC business…its a joke in the first place of Proton whom can only survived with controlled policies locally..pity rackyat..
only happened in Malaysia…haha…listen…listen…listen…listen…listen…listen…listen…listen…listen…listen…listen…listen…listen…listen…listen…listen…
at least bring 1 out of 5 concept car into reality. please.
wow, how so easily punish this 5 rnd, what was actually cooperation exist with lotus?? what used of owning lotus actually? tun m, pls lah, u said dasar pandang ke timur n learn from korea lah, jepun lah, so learn from kia lah, already manage to refresh the design of both engine and look… i do support proton, but why not use the lotus designer n redesign the proton’s car?? brapa tahun mau tunggu.. hurm.. wasting.
Don’t know what is going on with Lotus, but no new product = no future Lotus… I was set on selling the ZR1 and buying the new Esprit, but at this point I think I will stop following Lotus altogether… tired of hopes being raised only to be let down yet again! :(