Great Britain has a rich history of producing sports cars. Lotus has long been a stalwart, making some of the best cars deeply routed in British sporting performance. Those who’ve driven a Lotus Elise will talk of the purity of the driving experience whilst the newer Evora is competes with some high end competition in a more GT oriented package.
In brilliant news for Lotus and the UK car making industry, the Regional Growth Fund (RGF) has awarded the automotive firm £10.44 million. The cash will be used for research and development of products, along with staff training. In addition Lotus is expected to create 313 new full time jobs to support production over the coming years.
Aslam Farikullah, Chief Operating Officer at Lotus, said: “This grant is part of a wider strategy for Lotus created to ensure we thrive and grow. We are responding to increased global demand for our cars and engineering consultancy services and this grant will help to position Lotus at the forefront of global automotive innovation. We have very exciting plans for our sports cars and it’s a very positive move for Lotus that we’re in a position to create new jobs and to significantly contribute to Britain’s automotive industry. The team here at Lotus have worked very hard to secure this grant and every employee is playing their part in the stability, growth and future success of our company.”
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. I am pleased to announce today that our flagship economic plan to create jobs outside of London – the regional growth fund – is awarding Lotus a £10 million grant which will help them develop their next generation of cars and create over 300 new jobs in East Anglia. The Government has already supported over 400 projects with £2.6 billion from the Regional Growth Fund, promoting growth in regions across England. The latest round is still open for another two weeks and I’d urge all businesses with a plan to support jobs in their local areas to apply.”
More jobs, investment and commitment to UK car makers. This can only be good news and I can’t wait to see the next generation of cars from Lotus.