Lotus Receives $16 Million Government Grant

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Since the owners of Lotus invested more than £100 million, the manufacturer has seen some real growth that even caught the attention of the English government. The manufacturer received the Regional Growth Fund (RGF) as an award for their success in the recent year.

According to a Nov. 25 press release from Lotus Cars, “The Regional Growth Fund… supports projects that are using private sector investment to create economic growth and sustainable employment.” Lotus’s firm was awarded £10.44 million (~$16 million) to help boost their progress. With the grant, the firm was able to create 313 new full time jobs.

“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.” Said Aslam Farikullah, Lotus’s Chief Operating Officer, in the same press release.

The growth of Lotus will surely be a boost for both the local economy and the iconic manufacturer’s designs and performance levels. Next we’ll be looking for what changes and enhancements this will create for auto manufacturers who rely on Lotus to produce their bodies and frames. Growth of the British manufacturer could mean not only enhancements for them, but for partnering manufacturers as well.

(Source: Lotus)