Could the road to a full recovery finally be underway?
It's been some time since we've heard any updates regarding Lotus and its future in the business of building sports cars. After the five-year plan that started to get underway by former CEO Dany Bahar was completely sacked (along with Bahar), Lotus was left in a difficult position. Gone were plans to revive the Esprit. Instead, Lotus continued to build the Evora and a heavily updated Exige. Both are great cars, but clearly not enough to carry the brand in the long term.
Parent company DRB-HICOM previously appointed Aslam Farikullah as CEO in order to get the books straightened up. But today there's word that former Peugeot-Citroen president Jean-Marc Gales has been appointed the new Lotus CEO. He'll supposedly work alongside Farikullah for now. Gales has a lot of experience in the car business, having previously also worked for Daimler, GM and VW. Lotus has also repaired many of its financial troubles, thanks to increased sales in China and cost cutting elsewhere. Build quality has also been improved. So will there be a new Esprit after all or any other new models? From the way things are looking now, Lotus may finally be on its way to recovery.