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.
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Good… it better be NOT true… otherwise it would be an uproar in Malaysia.. Proton need to understand that Bahar has no interest to be working under Proton.. hence Bahar need to be axed before he does further damage.
entah-entah proton yang nak jual GL. Asyik rugi je. Proton should only take or control Lotus Engineering. Lain-lain Lotus tak payah
test market la tu………
well, the boss has spoken
or somebody has spoken for him
doesnt matter but this statement is important
and we shall give them the benefit of the doubts
because for a few reasons that first this is the new regime not one like being led by a pingu
second because we talk about ourself being mature citizen who has the right to bash so now it is our turn to meet our end of the equilibrium that is to respect what has been said
third is this is an all new regime which dont flip flop.
you may go on for fourth fifth and sixth
the fact that matter is pak syed, lotus is too much a pricey step son
u have got to say NO at one point or else the spoilt brat will make u a poor, sad man in the end
give chance u may but chances u got to put a limit on.
heads must roll if things are not turn into what they are expected to be
Now that’s good news
but still Bahar need to be kick out because he is clearly have plan for LOTUS not to be under PROTON..
as I said there’s other dude who knows how to do a job as CEO and have vast experience in motorsport especially Formula 1 if PROTON is serious for GL to be in Formula 1 for a long term.
Datuk Jean Todt?
Relieeeeeved~!
well, i thought that was a good statement.
i think something is up the sleeve of GL’s ceo….this is the 2nd time he was reported to ‘deny’ the selling of GL’s stake.. and the brit press seems to be playing it up. in cohoots perhaps?
i think its time syed zainal make that phone call..
Jual jelah lotus dengan proton-proton sekali. Senang cerita.
sell proton, petronas, tnb, pos, sime darby… then sell malaysia also.. just let everything control by outsider!! maybe then malaysian will feel ‘senang’?
no pain no gain la bro…
Force Robert Kuok to sell it’s sugar plant to a “local” and now the sugar price went up so high… haha…
up so high?
until We have to smuggle it into Thailand?
Living under BARANG NAIK govt is doomed. Vote for change!
The problem here is all pain and no gain..and I m not only talking about Proton. Since when we have gain over all these? Only those ‘few’. Did you and me get anything??
Iya, jual semua skali… pastu dgn telur2 ko skali pun jual gak. Nak? Nampak sangat otak ko still kena jajah lagi…
Who cares…..
in dat case, why did u read this news and post this comment?
What a low mentality fellow…it means why bother to even cover this news. Still can’t understand? Kumon should be a good start for you, otherwise go for smart reader. That should be sufficient to at least understand few comments here.
relax… its just news. if u x care less about this, other ppl do
wife:im pregnant
wallstreet:who cares
narakka..this is not youtube…hahahahaha
Since I m not married, I presumed you must be referring to your wife. ‘Fortunately’ for you…I don’t care…
do we care of what you care? haha…
relax…
PROTON should just sack Bahar and appoint Tun Dr Mahathir as LOTUS’s CEO
buddy tats a bad joke…he is totally oblivious of the current sports car productions trends, market,etc….dun give shiitty remarks!..make sum sense at least, notin to say jz read!
Proton tak perlu menanggung lotus yang sampai sekarang tak mendatangkan untung. Buatlah kereta dengan sumber yang ada tetapi sentiasa perbaiki kualiti, hapuskan pembaziran dan utamakan pelanggan. Percayalah, proton tidak memerlukan teknologi Lotus untuk menjadi syarikat kereta terbilang.
After so many years, we all know that with or without Lotus proton won’t jadi syarikat kereta terbilang. The point is just how long can it stand. Or how long can rakyat Malaysia stand to support proton.
Don’t trust news from some blogs!
PT also blog maa..
i don’t know whats going on… but here’s from the autocar.co.uk website:
A statement from Proton said: “The alleged moves between Group Lotus and Genii Capital are untrue and that the reports are highly speculative in nature. Proton’s relationship with Group Lotus is as good as it has ever been. 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.
“However we wish to add, that as a proactive business entity, the Proton Group of Companies will continue to initiate and consider viable business opportunities and arrangements which will benefit and add value to the group’s interest.”
The last paragraph was not on your post Danny….
So what gives?
Interestingly that was not in the statement emailed to us.
You can refer to the document which I have uploaded to Scribd.
http://www.scribd.com/doc/68496314/Official-Media-Statement-PHB-12-10-11
paul,
i checked proton’s website and under investor relations there was that statement.
and it DOES include the paragraph in question.
and you said that you uploaded proton’s document as per what was emailed…
question: why did proton emailed you a version that DID NOT include the paragraph?
i am intrigued. concerned. and a bit confused.
why 2 versions?
It could be that they sent us that first version but updated it later.
actually, that particular paragraph changes the whole meaning of the public statement.
the one posted here says the stake sale is not on; while the version in their website says yes, its possible.
corporations CANNOT have several versions or updated versions of public announcement within a few hours..
looks like there is still a lot to do in proton, and its not just the cars, i’m afraid (that includes the lotus cars too)
Typical of a shitty car maker!! These wankers are more consent of addressing the rumuors circulating than the REAL issue which is Lotus business plan is a FLOP.
Just like a person suffering from bad body odour when people shun them,they think we dont like the colour of their shirt rather than think that they STINK.
Just like their shitty philosophy in car making, if Proton cannot improve on their shitty quality they influence the government to make sure even if we buy imported cars it is already USED so we would never experience driving a cheap good NEW quality car.
;-)
Mr Shitty Man speaks again…
long time not see you commenting… welcome back…
body odour again…. sighhh
Did anyone realise the discontinue Lotus Europa only manage to sold 450unit between 2006-2010?
It should be named as failed car for the decade
not sell it at 1 Euro? :D
East meet West …………………….
Eastern Jaguh Kampong owning western “sick village champion” ……….. they must be very happy that the well worded statement like this,
“Lotus business turnaround plan is executed according to schedule and that both parties are committed to its success.”
is actually P1 not only act as sugar daddy to cronies vendors, but also act as a gravy train to this Mat Salleh village champion to provide so cool vitamin M to sustain its operation.
Walaueh, Lotus handling in shitty cars, this is what the tax payers get in return ………
Just sell off this Jaguh Kampong and Mat Salleh Village Champion, the public at large can look forward better future for car ownership and the industry players can offer best products at market price.
Why go for F1 if the car can’t sale well at oversea market!
you failed to understand that Lotus is not mass producing their cars. many works are still being done by hand.
waiting period for Evora in UK is 5 month when it first launched. and 114 sold within days in China, their original plan is to bring only 25 unit to China. the way i see it, Lotus is selling well when they have the right products.
MMmmmm… some one jealous about what Proton hv..!!
or…
jealous bout what malaysia hv..
Hahaha
MMmmmm… some one put his stinking foot into his mouth when talking ….. or more accurately ……. typical blind supporter craps ………. and so proud of owning liabilities, not assets …….
you’re Malaysian working overseas, but paying 5 figure income tax to Malaysia? you’re the one who’s talking craps.
nobody working overseas need to pay income tax in Malaysia. not even 1 figure.
let’s check his credibility, someone should check his IP and check whether he really is posting from overseas.
Proton needs to hive off at least 50% of its stake
in Lotus as it is draining their cash reserves.
Genii Cap offers nothing which Proton can gain
cos Gerrard is just a businessman trying to make his buck
via F1 which so far has failed to produce results.
Valuation is also a big problem cos at this point of time,
Lotus has not achieved their sales numbers and is still
posting losses. Time for Proton to put down their foot
and demand that Tony Bahar and his Real Madrid management
start producing results !!
The problem is, if proton needs even a whiff of the export market, they need Lotus.
While Proton may be jaguh kampung, out in the open world, no one gives a shit about proton. And Proton knows it. They wont get rid of Lotus.
Lotus needs a sugar daddy and they know it. And lotus needs F1 to retain the engineering and sporting pedigree that has been lacking in recent years. I wonder how long has it been since lotus had the opportunity to stick a “Handling by Lotus” badge on another marque since Proton.
“The problem is, if proton needs even a whiff of the export market, they need Lotus.”
Just curious: Why they need Lotus for THAT reason? Does i.e. the state-owned ‘Chery Automobile Ltd.’ own a company like Lotus? I heard that Chery is exporting cars too? Even without a ‘Handling by Lotus’ sticker?
I think Bahar is more interested in Lotus building its own engines for F1 and sports car. Right now, Lotus has the Range Extender designed specifically for hybrid electric vehicles.
Currently in testing is a 4.6 litre V8 that revs to around 9,000 rpm, and puts out 600 horsepower in naturally aspirated form. An engine of this nature obviously has vast potential for further development in terms of super charging and turbo charging, and should be flexible enough for evolution in the next decade or so.
We could start seeing some of these new engines in Lotus cars be end of 2013. Something that Lotus/Proton can sell in mass production to Mitsubishi/Nissan/Renault or Chinese car manufacturers.
Developing a high performance engine for road cars would cost a bomb, as we are not just talking about max power but also reliability and ever stricter exhaust emission. This is going to put huge strain on Lotus and ultimately Protons capex. Lotus is better known as good chassis manufacturer so using outsourced engines (perhaps from European manufacturers) is the most sensible choice economic-wise, as the total budget could have been used to develop and launch several models, maybe the Elan & Esprit simultaneously. Lotus needs a string of new models not just one!
Chevy Optra was tuned by Lotus Engineering. How come they didn’t put that badge on the car?
If the Lotus Bussiness Turnaround Plan is taking too long, it could spell a disaster for the company. The first new model , Lotus Esprit will take some time to be developed , some rumours said the first production could be pushed to year 2014, and before that time arrives, can Lotus sell enough cars to breakeven based on the current models? It’s difficult to say. Which is why I think, Lotus should go for the Lotus Elan model first and used outsourced engine (e.g Ford, Renault, Chevrolet) . That could be a more sensible choice. German engines could be an issue for the die hard fans let alone Japanese engines.
lets play a game. PT i wish you would continue this on special column. Since we all have opinion, lovers and haters…not to forget the atas pagar folk…..lets play a game…say Proton appoint you as Lotus CEO.Not Proton CEO. Just Lotus. With a task, to turn around the game. Make it profitable, forget about the existing plan and the history. Forget about how good or bad both proton and lotus are…. Just focus on your new job.And say you need present summary of your plan… What would your plan be.
For me
a) I would rework the strategy of the the market segment. 2013 onward, Lotus should offer product that is base on Lotus strength. Not to take down Ferrari but being a true lotus. Say now lotus can only sell 200++ car per year, we up that a bit to 350 car per year but, that should make it profitable instead of losing.Work on the cost first. I would model Porsche and its market. 5 cars as DB plan is good, but at what price. I say keep the espirit at 100k pound, but the rest must go down. Elise should start at 35 – 50k pound and should be the next model. It should be the bread and butter. It should be the bottom of pyramid of product….sell more, less margin . And i would definitely rush both elise and esprit. The other should wait.
b) Stop working with Toyota. Use own engine. That would be better position for Lotus (this is what they are working now i believe) But what engine ? be brutal. Straight six for elise, V8 for esprit. you dont need many engine. Two would do for a start. And develop own gearbox. Sophisticated gearbox.
c) The most critical thing would be the short term plan, seem what is DB now lacking. I say, re work evora. Cant bring down the price, as the existing customer will get pissed, but keep the price with new face lift. Not bring it up. Two area need we need work at, one the power train. Ditch camry engine immediately, no matter how good. The perception count. I say, make quick agreement with Renault. Get their power unit, the most powerful one. And replace the camry. With that , in marketing point of view, the F1 activities will make sense and buyer can relate to that. This is to survive 2012 and early 2013 before launching of new model. Next area would be the cabin. Throw away the dashboard. Make a new one. Simple design, but focus on quality element. Alcantra, plus good electronic display. Not the after thought satnav it has now. Re position most button. Sports car owner like the personalization. U dont need much cup holder like korean car but a few extra gadget will pump up the value. And another gadget that will make the car look so cool…get the f1 kers unit. I am sure that will spice up the car. Better than nitro environmentally.
d) Expand the market. Explore new country. Africa, Mongolia, Eastern Europe, russia, india and other odd country. Not many cars maker goes to this kind of country. And thus, opportunity is laid upon you.
e) Back to elise, the new elise should be model after the Porsche 911, the perfomance, the image, the aura , the quality but at 3/4 of the price..Remember elise was a fun car. It should be that way always. and Porsche 911 have all those quality plus other quality. That what elise should be. Two seater, fast, easy to drive and reliable. And it should beyond rich to mid income earner. What is the point attacking ferrari. UK is a land of sports car maker. U already have mclaren at the top, jaguar coming along with great product. Let them fight ferrari and lambo. Lotus should compete for its existing market. head to head with people like caterham, noble, atom, etc.
f) and then only we talked about other model.
g) at 200++ per year is a bad position, but not that bad. Spyker did worst despite better car. That shows somehow the marketing work. So ride on the platform hard. Push them.
h) stop talking about driving pleasure, re introduce the brand as quality product. That is hardly said.
i) Thing of beauty, come on. The all 5 car in the plan shouldnt have to be look alike. they should be different.
j) I say remove elan, and remove ethos. that is not needed. Instead, bring back APX .
k) i would negotiate with proton, for them to take up lotus Europa, and aim for it to sell below 100k. Remember hyundai with its old coupe day. It is late, but about time proton to start doing that. A sports car looking, with decent perfomance, great drive ability and affordable to many. and lotus got some profit for every model produced. but please, not the campro 1.6. Make it 1.6 yes but different engine please.A lot of yuppies would jump into oppurtinity of having affordable sports car. Owh yes, also need to rework the design . Europa is not handsome. Make it more masculine.diferent headlight, rear light and different look all together
i would continue the motorsport campaign, but i would cut down a few and focus on certain sports. I say, go for F1, cancel indy and GP2, and focus on endurance like le mans. Build a GT3 and GT1 car.That make more sense.
throwing idea like this is fun, but it will take a very talented and dedicated man to actually execute it. We all can speak out our mind loud. For the fun of it….hahahha
and I say… “You are dreaming buddy… wake up… real word are not that simple..”
Self praised syiok sendiri wishful thinking cheap talk ………………….
Kah kah kah…………..EXPECTED !!!!
Next move – SACK DSZ !!! useless idiot !!!
what make you so useful?
can you turn around Proton as he did?
Look at Bahar. He clearly look displeased.
in my opinion… since Lotus got Lotus Cars and Lotus Engineering…
Let go of Lotus Cars… Keep the Lotus Engineering…
and then what, for everybody at lotus engineering resigned and join lotus car? i can almost guarantee you this will happen
whatever IP under lotus engineering will remain under lotus engineering. u get the idea?
“Chairman” talking and making decision in meeting room …………………….
si perasan expat also talking….
“thank you”… i never get such “appreciation” before in my life…
moreover, it is from my famous Speculator?
Exp Vn,
You got more thumb down than up in your history of this blog. I believe in your real life is exactly the same. Making noise, full of complaints, being negative all the times and perhaps never achieve anything fabulous in your life. Shame on you for your low EQ…
It’s wonderful that you are getting thoughts from this piece of writing as well as from our discussion made here.