Detroit Bureau on Twitter

Posts Tagged ‘dany bahar’

Debt Mounting, Lotus May Delay or Drop Some Planned Models

New Esprit, other projects in trouble.

by on Oct.15, 2012

The eagerly-awaited Lotus Esprit could fall victim to the company's mounting financial problems.

No manufacturer likes to see its name linked to a recall.  But a minor headache for a maker like General Motors or Toyota can turn into a migraine for a cash-strapped company such as Lotus that is already struggling to keep its product development programs funded.

The numbers are modest – just 80 Evora S models sold last year could be subject to engine oil leaks or fires – but it is the latest in a series of mounting problems that face the maker’s owners and raise growing concerns that Lotus will have to abort an ambitious product development program designed to transform it into a series player in the global sports car market.

Your Trusted Source for News and Reviews!

Both the much-awaited Lotus flagship, the Esprit could be in trouble, according to numerous industry sources, while other projects have been slowed as the British maker tapers back on the bold, 5-product launch plans it revealed during a show-stopping news conference at the 2010 Paris Motor Show.

Lotus owner, the Malaysian-based DRB-Hicom, is now facing legal action on the part of unpaid suppliers due a reported $40 million.  The owner of the British-based maker is now asking U.K. authorities to lend a hand by delaying upcoming tax payments.


Updated: Lotus Pulls Back on Ambitious Product Plan – Is VW Bid in Offing?

Lutz and advisory board dumped.

by on Jul.27, 2012

Lotus originally developed the Evora GTE for the Le Mans circuit but had hinted it might do a version for the street.

This story has been updated to reflect the latest development involving the Lotus advisory board.

For long-time Lotus fans it seemed too good to be true: the British maker promising to turn out a whopping five new cars in a five-year burst of activity unlike any period in its long but oft-troubled history.

Well, indeed, it was too good to be true.  After discharging Chief Executive Dany Bahar, the automaker’s parent, DRB-Hicom Bhd, has scrapped that ambitious plan and is aiming at what several observers are referring to as a “much more realistic,” meaning downsized, product roll-out.

Meanwhile, former General Motors car czar Bob Lutz confirmed he and the rest of the Lotus advisory board have been terminated as part of the maker’s cost-cutting efforts.

Your Inside Source!

Could Lotus be leaning out its product plans to make the company seem more appealing for a buyer? That’s one possibility, industry sources suggest, new reports surfacing that suggest Germany’s Volkswagen AG might be interested in buying both the Lotus Group but also Hicom’s Malaysian-based Proton.

“In this day and age, with the cost of developing a new vehicle, building the tools and homologating a sports car,” said analyst Joe Phillippi, of AutoTrends Consulting, the Lotus plan to turn out five new product seemed “overly ambitious.”


Shake-Up at Lotus

CEO Dany Bahar ousted over alleged misconduct.

by on May.29, 2012

Lotus's now suspended CEO Dany Bahar.

Lotus CEO Dany Bahar has been ousted due to alleged irregularities connected to a lavish expense account that he reportedly used, among other things, to bill two homes in Norwich, UK to the sports carmaker.

The oft-controversial Turkish-Swiss Bahar is the man behind an aggressive product development program intended to transform Lotus into a major player in the global exotic car market.  It’s unclear what his suspension will mean to that effort.

In the Know!

Lotus has confirmed that, Bahar was “temporarily suspended from his role, to facilitate an investigation into a complaint about his conduct.”

The Swiss-born executive was reportedly playing fast and loose with his expenses, according to reports in the British press.  Bahar was already involved in a legal dispute involving one of the two Norwich homes.


First Look: Lotus Elite

Hybrid muscle aims to move British brand from niche to mainstream.

by on Sep.21, 2010

Lotus enters the hybrid era with the Elite Concept.

The newly-expanded alliance between Toyota and Britain’s Lotus will make its debut at the Paris Motor Show, later this month.  And if all goes according to plan, Lotus CEO Dany Bahar is determined to transform the brand from a niche to a relatively mainstream player.

The Lotus Elite concept will serve as the British marque’s new flagship when it makes the transition from show car to production model in April 2013, the maker says.  Whether it will maintain the high-tech hybrid system remains to be seen, however.

Paris Preview!

In concept form, the Lotus Elite uses a front-mid-mounted V8 linked to an epicyclic transmission that is linked to a pair of electric motors.  As with the gasoline-electric systems under development by competitors ranging from Porsche to Ferrari, the goal is to boost mileage, to meet future American CAFE standards, drive down CO2 emissions, to comply with tough new European regulations – and provide some added torque for even more aggressive performance.

The Lotus Elite concept initially brings to mind the design language of an Aston-Martin.