Advertisement

F1: Lotus E20 launched – fourth is the target for 2012

February 7, 2012 at 11:36 am By Danny Tan Filed Under Formula 1, Lotus, Motorsports

Lotus, formerly known as Lotus Renault GP, has pulled the wraps off its 2012 Formula 1 challenger. Called E20, it’s named after Enstone, the team’s base in UK. It’s the 20th F1 chassis designed at the Oxfordshire facility. The men charged with driving the black and gold cars are Romain Grosjean and returning champ Kimi Raikkonen.

The target for the duo is fourth in the Constructors’ championship this year, set by team owner Gerard Lopez of Genii Capital. Last year, the Lotus sponsored Renault team started strongly with two podiums in the first two races, but eventually finished a distant fifth, just six points ahead of Force India.

“The hopes are to be able to get one season together and do what we were expecting last year. We hope to have a strong car, and have strong drivers, one of which is of course an ex-world champion. We hope to bring the car up to the front of the pack and probably try to aim for fourth as a reasonable goal for this season,” Lopez said.

On another note, “we’re obviously extremely proud that finally the Lotus name is a clear concept for everybody in Formula 1 now,” the owner added. The former Team Lotus, owned by Tony Fernandes, will race as Caterham this season.

The E20 wears familiar black-gold clothes, but there are new sponsor logos from Rexona and Clear Anti-Dandruff shampoo on the flanks.

18 Comments      

Reports: Lotus looking for £500m partner, Genii interested

January 31, 2012 at 11:22 am By Danny Tan Filed Under Cars, International News, Lotus

Reports coming from the UK say that Group Lotus CEO Dany Bahar is looking for financial partners to buy over the sportscar maker from Proton. The Sunday Times news piece suggested that Bahar is not looking for any partner, but one with the ability to fund Lotus’ costly five-year turnaround plan, one with £500 million ready to invest.

The report adds that Genii Capital is interested in the loss-making Proton subsidiary. Genii, which already owns the Lotus F1 team, is said to have been eyeing Group Lotus for some time and is “close to completing due diligence”.

If the report is accurate, we have a willing buyer. But is Proton’s new owner, DRB-Hicom, a willing seller? “Options are open. At this particular moment, I’m open to sell or not to sell Lotus,” DRB-Hicom boss Datuk Seri Mohd Khamil Jamil was quoted as saying.

Proton, owner since 1996, has already poured in a lot of resources into Group Lotus – should they wait for the fruits of the investment or cut their losses?

72 Comments      


F1: Lotus 2012 challenger to be called E20 – E for Enstone

January 30, 2012 at 11:28 am By Danny Tan Filed Under Formula 1, Lotus, Motorsports

Th Lotus F1 Team, formerly called Lotus Renault GP, has announced that its 2012 challenger will be named E20, a departure from the R tagged chassis names of the Renault team. Officially, the E20 name is to commemorate the 20th F1 chassis designed at the team’s base in Enstone, the team’s HQ since 1992. To be driven by Kimi Raikkonen and Romain Grosjean for 2012, the E20 will be unveiled on 5 February on the team’s website.

“Our naming of the chassis to recognise Enstone’s importance to the team’s evolution highlights our recognition of the contribution of the facility and the personnel who work tirelessly every year to produce the very best car possible. We certainly hope that this is the case with the E20 and we are looking forward to revealing the car to the world and seeing it out on track for the first time,” said team boss Eric Boullier.

“There are a number of technical changes from last year and we have an exciting new driver line-up to extract the maximum from the E20 through the twenty Grands Prix of the 2012 season, including the 500th race for this team through its different incarnations. We hope that the E20 proves to be a performing Enstone design,” the Frenchman added.

Meanwhile, returning world champ Kimi Raikkonen is feeling positive after a two-day test at Valencia last week. It was quite a session for the Finn, as he returned to an F1 car’s cockpit for the first time in over two years.

“It went well today and overall the two days have been helped me a lot. Even though I was using a two year-old car and the Pirelli demo tyres, I learnt about working with the team and the engineers which means I can focus on the new car once we get to Jerez for the first official test. It was great to be driving an F1 car again and from that respect I feel very positive,” he said.

7 Comments      

Reports: DRB-Hicom to cut Proton’s costs, review Lotus

January 18, 2012 at 9:10 am By Danny Tan Filed Under Cars, Local News, Lotus, Malaysian Makes, Proton

Now that DRB-Hicom is in control of Proton, what’s in store for the national carmaker? A report by Business Times details the changes that will happen in terms of cost cutting and efficiency, trimming “excess fat” currently carried by Proton. The reporter quoted unnamed “sources close to the deal”.

For starters, no large scale staff retrenchment is expected, although some changes in the top management are predicted to happen. DRB-HICOM wants to turn Proton into a serious regional player within three years, before becoming a global player two years from that point. The conglomerate will also strengthen Proton’s vendor and dealer network, while improving staff skills by leveraging on its International College of Automotive (ICAM) in Pahang.

“There will be zero lay-off as the immediate focus is on the low-hanging fruits at Proton. The group will trim any excess fat in product planning, consultancy contracts and third-party service providers, among others,” their sources said.

An example is the storage of Proton cars at a third-party site in Sijangkang, Selangor. “The group does not think it is necessary to farm out this logistic service as Proton cars can be distributed to dealers and branches efficiently by using a good IT infrastructure. A lot of money can be saved from this,” they added.

When it comes to costs, Lotus is sure to crop up. Now that DRB-Hicom is in control, what is in store for Proton’s sports car subsidiary? The British brand is currently in a cost consuming revamp from niche specialist sports car maker to a Porsche challenging brand, led by CEO Dany Bahar, who is fresh from signing a four-year contract last month.

“If Lotus continues to ride on Proton, it will be cancerous, it will be like a parasite. Hence, it requires a review so that it can stand alone and be successful, perhaps like what Audi is to its parent Volkswagen AG,” BT’s sources said, adding that the review will focus on Lotus’ involvement in motorsports sponsorships, especially in F1.

If this report is accurate, there is sure to be plenty of boardroom battles in Proton, in the near future.

168 Comments      

Group Lotus CEO Dany Bahar signs new four-year contract

December 13, 2011 at 3:24 am By Danny Tan Filed Under Cars, International News, Lotus, Proton

The word is out that Dany Bahar, CEO of Group Lotus, has signed a fresh four-year contract following a meeting with parent company Proton last week. His original contract was due to expire next year. “The Proton dedication to our plans has always been solid, and the decision to extend my contract a year early is a signal of that commitment,” Bahar said.

The ex-Ferrari man came into Lotus back in October 2009. He then formulated an ambitious five-year business plan that was unveiled for the world to see at the 2010 Paris Motor Show. At the French capital, Lotus brought out a full range of sports cars that it will use to challenge the likes of Porsche. Besides the fantastic five, which ranged from the next Elise to a Aston Rapide style four-door, Lotus also has plans for a small city car called Ethos.

Of the lot, the first on the scene will be the new Esprit in 2013. Lotus is also planning to develop its own V6 and V8 engines for its future range.

To support the road car grand plans, Group Lotus is putting motorsports and racing heritage as a main pillar. This has seen it got into Formula 1 as a sponsor to Renault. The team will race next year as Lotus after a long battle with Tony Fernandes’ Team Lotus. The company also returned to Le Mans and is involved in IndyCar in America.

38 Comments      

LRGP’s Eric Boullier: We have now a proper identity

November 22, 2011 at 10:30 am By Danny Tan Filed Under Formula 1, Lotus, Motorsports

The protracted Lotus vs Lotus naming row between Tony Fernandes and Group Lotus/Proton was settled earlier this month, with Group Lotus ending up with the ‘Lotus’ name in F1, and the present Team Lotus migrating to the Caterham name from next season.

This means a lot to Lotus Renault GP. “Massive, massive. Massive for many reasons. We have now a proper identity, we know who we are. We don’t have stories about Lotus, Renault, Genii, and how many shares, options, etc, – it is clear now,” said team boss Eric Boullier.

“It is clear, many, many sponsors who we were talking with, and which were planned for discussed in 2011, suspended, or even rejected the discussions because of this team name issue, so we can now restart the discussions and I have to say it is going in a very constructive way to make sure the future is done,” he added.

It’s no secret that the “new Lotus” under Dany Bahar’s leadership is placing motorsports and heritage as pillars for it to challenge the likes of Ferrari as a carmaker, which was why an F1 team racing with the ‘Lotus’ name but not under its control was an issue.

“The Lotus project is also much bigger, but something should be announced quite soon I hope and it is a nice way to secure our future with a new identity. It will change everything. Lotus brand, being the same family as Lotus Cars, is the same business model as Ferrari, the same business model as McLaren and it is completely legitimate to be in F1,” Boullier stressed.

12 Comments      

Lotus vs Lotus: it’s all over, with both parties settling the issue amicably – Team Lotus to now race as Caterham F1

November 9, 2011 at 11:05 pm By Anthony Lim Filed Under Formula 1, Lotus, Motorsports

The long-running Lotus vs Lotus saga is over – the fight that ended up in court has reached an amicable ending. Proton, Group Lotus, 1Malaysia Racing Team and its owner Tony Fernandes have announced – delightfully, the statement said – that the legal dispute in the English Courts relating to the ‘Lotus” and ‘Team Lotus’ brands has now ended on a happy note, with the parties agreeing settlement terms earlier this month.

The terms of the settlement are confidential, but the deal sees the ‘Lotus’ brand reunited under the sole ownership of Group Lotus. This includes the rights to the ‘Lotus’ and ‘Team Lotus’ names in Formula 1 motor racing. The deal also sees a working relationship established between the parties, who will work together on future projects in the automotive field.

For the 2012 F1 season on, 1MRT will race under the name Caterham F1 Team and will use a Caterham chassis.

“On behalf of Group Lotus and Proton, I would like to express how pleased we are that this matter is finally closed and we can now focus on looking forward to the future,” Group Lotus CEO Dany Bahar said.

“We understand that this has been a very difficult and confusing time for the fans of the sport and the Lotus brand, so we are glad to have reached a clear resolution on this important matter – I would like to take this opportunity to thank our fans for their continued support, it means everything to us,” he added.

Meanwhile, on behalf of 1MRT, Group CEO Riad Asmat said: “We are proud of what we have achieved by bringing the Team Lotus name back to Formula One when many tried, and although we are sad to say goodbye to Team Lotus, we are excited about owning our own future and being in control of our own destiny. Now we have no one to be compared to. We make our own history and we will remain green and yellow.”

“Now we look forward to an exciting future racing under our new team name of Caterham F1 Team. Please continue to support our very special spirit of never say die and support us on the track, as we move up the field and demonstrate that the good do win,” he added.

42 Comments      

Group Lotus plays entry level, forms factory kart team

October 14, 2011 at 1:32 am By Danny Tan Filed Under Lotus, Motorsports

Lotus is entering the kart world, and with this move the company becomes the first car manufacturer to have a presence at the entry level of motorsport, great for early talent spotting.

Competing under the ‘Lotus Racing Karts’ banner and forming part of the Lotus Motorsport division, Lotus Racing Karts will field a factory backed team, operated by Jefra Racing out of its headquarters near Treviso, Italy. With a racing pedigree spanning over 40 years, Lotus hopes that JR’s invaluable experience and leadership from Team Manager Franc Jerancic will form the basis of a truly competitive team.

The talents spotted and recruited by Jerancic will have all the latest homologated material at their disposal, including two new chassis models ‘Colin C30’ and ‘Jimmy C32’. Lotus Racing Karts will enter CIK-FIA international karting events for KF and KZ categories and the World Karting Championship for KF1 category.

The production of karts and components is licensed by Group Lotus to Wildkart, specialists in aeronautics precision engineering since 1996 and manufacturer of karts since 2002. Today, Wildkart is regarded as an authority in kart chassis and components, providing services and solutions to many karting suppliers and brands. Lotus Racing Karts will unveil their 2012 karts at the annual Autosport International event in January 2012.

43 Comments      

Proton: Group Lotus sale to Genii Capital rumours untrue

October 12, 2011 at 6:01 pm By Danny Tan Filed Under Cars, Local News, Lotus, Malaysian Makes, Proton

There have been rumours circulating that Lotus Renault GP owners Genii Capital, headed by Gerard Lopez, is looking to buy into Group Lotus, the sportscar maker which is currently the title sponsor of the F1 team.

Now, Group Lotus owner Proton has come out with a statement to quash this speculation, highlighting that the relationship between parent and subsidiary is “as good as it has ever been”, and that the priority is to “ensure that the Lotus Business Turnaround Plan is executed according to schedule”.

Here’s the Proton statement in full:

We refer to the news reports that have been circulating recently over the sale (of a stake) in Group Lotus.

PROTON hereby states that the alleged moves between Group Lotus and GENII Capital are untrue and that the news are highly speculative in nature. PROTON’s relationship with Group Lotus is as good as it has ever been. Through this positive synergy, our priority now is to ensure that the Lotus Business Turnaround Plan is executed according to schedule and that both parties are committed to its success. PROTON and Lotus have reached a juncture whereby the market is eagerly waiting for Lotus’ new products and all our energy and efforts have to be channelled towards achieving this critical goal.

Furthermore, the scope of Lotus’ involvement in F1 as title sponsor to Lotus-Renault GP is to create dynamic marketing and branding synergies.

PROTON does not wish to further entertain any unsubstantiated news of speculative nature and we hope this statement will put all speculation to rest.

65 Comments      

Ex-BMW exec: Lotus must focus on short term sales, too

October 11, 2011 at 12:07 pm By Danny Tan Filed Under Cars, International News, Lotus

Lotus has the right products, great products, but is not selling enough cars as it should. This is the assessment of former top BMW exec Karl-Heinz Kalbfell, brought in late last year to mentor Lotus CEO Dany Bahar. The plan is to boost sales over the next 18 months, according to Autocar UK.

In its UK home market, Lotus is struggling. The Proton subsidiary sold just 272 cars in the first eight months of 2011, 24% less than 358 in the same period last year. The overall market is down by 6%.

“The brand is well known but the products are not. We are focusing on a new range of cars, but we must sell more cars now,” Kalbfell said, referring to Lotus’ spectacular five-year plan that will yield the new Esprit, a luxury GT and a four-door car, among other models.

“We have some great cars in our range, like the Evora. Many car companies would love to have the Evora in their range. Now the point must be to get the car on the shopping list of buyers,” he added.

To address this, Lotus has Frankfurt debutant Evora GTE. It’s the most powerful Lotus road car ever built, with a 444 PS V6, revised chassis, carbonfibre body parts, and a sticker price close to £120k. This will help pave the way and prepare customers for the new Esprit, which will surely be priced above £100k.

“We cannot just jump buyers up from the Elise to the Esprit,” said Kalbfell. Another such “bridging” model is the £40k Exige S that also debut in Frankfurt. “With 350 bhp and 1080 kg, who else has such a hot performance model at this price?” said Kalbfell.

On a different note, word is that Gerard Lopez’s Genii Capital, owners of Lotus Renault GP, is looking at buying into Group Lotus. Click here to read more.

45 Comments