Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2013 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Lotus suing former CEO Bahar over spending on homes, helicopters and watches]]>http://www.autoblog.com/2012/12/03/lotus-suing-former-ceo-bahar-over-spending-on-homes-helicopters/http://www.autoblog.com/2012/12/03/lotus-suing-former-ceo-bahar-over-spending-on-homes-helicopters/http://www.autoblog.com/2012/12/03/lotus-suing-former-ceo-bahar-over-spending-on-homes-helicopters/#commentsFiled under: , , , ,

Dany Bahar

More details have come out about the legal suit and countersuit being contested between Lotus cars owner DRB-Hicom and former CEO of Lotus Dany Bahar. Bahar was brought in by Malaysian car company Proton in 2009 to turn Lotus around, and events during his tenure have made just about everyone wonder "What's going on?" That's not unusual - it can take a minute to figure things out when a new leader takes everything in a new direction - but in this case the clouds didn't clear quickly enough.

When the Malaysian government sold Proton to Malaysian auto supplier DRB-Hicom earlier this year, a forensic accounting team from Ernst & Young and The Rothschild Group started going over the books. Not long after, Bahar was suspended in June from his position and then fired. In his countersuit against DRB-Hicom, claims of lavish spending began to surface. Then the stories and leaks and rumors really began, the UK's Financial Mail reporting on more than one million pounds spent on private flights and home renovations, the New Zealand Herald talking about other executives sacked so that DRB could rearrange a 270-million-pound bank loan to Lotus, and rumors on forums about Bahar flying from his home in Norfolk to Hethel HQ and spending 30,000 pounds on motorsports books for his office.

In the latest Bloomberg report it is said that DRB-Hicom seeks 2.5 million pounds ($4 million US) from Bahar "for unauthorized expenses and overpaid salary and bonuses," including the purported expense of 3,000 pounds on watches for company managers. DRB-Hicom also says Bahar made damaging statements to the media, on top of breaching his contractual duties. Bahar's countersuit seeks $10.6 million from DRB-Hicom.

Steve Davies at SkiddMark.com has written an excellent, reasoned piece on the other less-salacious issues of contention between DRB-Hicom, Bahar and the consortium of banks that made the 270-million-pound loan. It will probably be a while longer, if ever, before we really know what happened inside the walls of Hethel to get matters to this point.

Lotus suing former CEO Bahar over spending on homes, helicopters and watches originally appeared on Autoblog on Mon, 03 Dec 2012 09:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dany bahardrbdrb-hicomlawsuitlotusprotonukMon, 03 Dec 2012 09:31:00 EST http://www.autoblog.com/feed/20392348/article-comments.xml http://www.autoblog.com/feed/2012/12/03/lotus-suing-former-ceo-bahar-over-spending-on-homes-helicopters/20392348/article-detail.xml 20392348 http://www.blogcdn.com/www.autoblog.com/media/2012/12/dany-bahar_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/12/dany-bahar.jpg <![CDATA[Lotus Esprit cancelled? [UPDATE]]]>http://www.autoblog.com/2012/10/04/lotus-esprit-cancelled/http://www.autoblog.com/2012/10/04/lotus-esprit-cancelled/http://www.autoblog.com/2012/10/04/lotus-esprit-cancelled/#commentsFiled under: , , , , , ,

2010 Lotus Esprit concept - front three-quarter view

Two years ago, we were gobsmacked when humble Lotus shocked the automotive world by wheeling out no fewer than five new models - admittedly in various stages of development - at the 2010 Paris Motor Show. The ambitious onslaught of new sheetmetal came at the behest of then-CEO Danny Bahar who aimed to broaden the British marque's appeal by dramatically expanding its portfolio. Bahar was later thrown out by new Malaysian owners DRB-Hicom in a management shakeup that seems to still be, well, shaking out. Bahar was deposed over accusations of financial wrongdoing and the controversial executive has fired back with a $10.6M lawsuit.

Against this chaotic background, a cornerstone of Lotus' revival plans hinged on the rebirth of its Esprit supercar (shown in 2010 concept form above). According to new reports, however, the Esprit has been cancelled, a victim of the company's uncertain finances and direction. Depending on which rumor you choose to believe, the two-seat coupe was slated to receive a house-built V8 and possibly turbocharging or hybrid power. That may all be moot now, however, as DRB-Hicom is reported to have scrapped Bahar's plans wholesale, a development that apparently includes killing off the mid-engined Esprit, too.


UPDATE: And this, friends, is why we have this story with a question mark and a Rumormill tag - Lotus is denying that the Esprit has been killed off.

Lotus Esprit cancelled? [UPDATE] originally appeared on Autoblog on Thu, 04 Oct 2012 19:28:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>2014 lotus espritbahardany bahardrb-hicomespritlotusThu, 04 Oct 2012 19:28:00 EST http://www.autoblog.com/feed/20342115/article-comments.xml http://www.autoblog.com/feed/2012/10/04/lotus-esprit-cancelled/20342115/article-detail.xml 20342115 http://www.blogcdn.com/www.autoblog.com/media/2011/06/lotus-esprit-frt34_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/06/lotus-esprit-frt34.jpg <![CDATA[Former CEO Bahar files $10.6M suit against Lotus]]>http://www.autoblog.com/2012/08/27/former-ceo-bahar-files-10-6m-suit-against-lotus/http://www.autoblog.com/2012/08/27/former-ceo-bahar-files-10-6m-suit-against-lotus/http://www.autoblog.com/2012/08/27/former-ceo-bahar-files-10-6m-suit-against-lotus/#commentsFiled under: , ,

Former Lotus CEO Dany Bahar with car

File this one under "not surprising in the least." Fired Lotus CEO Dany Bahar is reportedly suing his former employers for some $10.6 million, claiming that the automaker and its Malaysian owner, DRB, broke the law when they dismissed him. According to a report by Bloomberg Businessweek, DRB and Lotus will defend themselves in court rather than settling, including filing a countersuit against the former top executive.

Bahar, 40, was canned on June 7, about two weeks after Lotus suspended him pending an investigation into his conduct. The report cites a Kuala Lumpur stock exchange filing as its source of the information; the filing also indicates that DRB has decided against selling Lotus, despite continuing losses.

Former CEO Bahar files $10.6M suit against Lotus originally appeared on Autoblog on Mon, 27 Aug 2012 17:32:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>baharbahar lawsuitdany bahardrbdrb hicomlotuslotus carsMon, 27 Aug 2012 17:32:00 EST http://www.autoblog.com/feed/20310205/article-comments.xml http://www.autoblog.com/feed/2012/08/27/former-ceo-bahar-files-10-6m-suit-against-lotus/20310205/article-detail.xml 20310205 http://www.blogcdn.com/www.autoblog.com/media/2012/08/lotus-ceo-dany-bahar-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/08/lotus-ceo-dany-bahar-628.jpg <![CDATA[Lotus bows out of Paris Motor Show]]>http://www.autoblog.com/2012/07/16/lotus-bows-out-of-paris-motor-show/http://www.autoblog.com/2012/07/16/lotus-bows-out-of-paris-motor-show/http://www.autoblog.com/2012/07/16/lotus-bows-out-of-paris-motor-show/#commentsFiled under: , , ,

Lotus Exige S Concept - Live at Paris Motor Show debut, 2010

The plan put forth by former Lotus CEO Dany Bahar was to explode the British brand into the high-dollar sports car segment and directly challenge its marquee names. The first explosion came with the surprise introduction of five concepts at the 2010 Paris Motor Show. What has continued to surprise, though, is that the explosions haven't stopped: parent company Proton has had troubles leading to a reworking of its Formula One involvement, its IndyCar effort has had a rough ride, Proton's sale to Malaysian conglomerate DRB Hicom led to a production stoppage, and while the company was reassured that it wouldn't be sold, Bahar was shown the door - along with four of those Paris concepts, as far as we can tell. Yet the company is still making highly regarded cars and going racing.

So it shouldn't be all that surprising that, according to a report in Car and Driver, Lotus won't be attending this year's Paris Motor Show at all. Lotus didn't have much to show off at the Geneva Motor Show or the New York Show as all development was halted for two months, and the new corporate owner and new CEO installed by that owner are still working through the details of its niche English property. We will hope this is nothing more than a step in the reorganization, and look forward to seeing the Hethel firm again in Los Angeles or Detroit.

Lotus bows out of Paris Motor Show originally appeared on Autoblog on Mon, 16 Jul 2012 10:14:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dany bahardrb-hicomlotusparisparis 2012paris motor showprotonMon, 16 Jul 2012 10:14:00 EST http://www.autoblog.com/feed/20278258/article-comments.xml http://www.autoblog.com/feed/2012/07/16/lotus-bows-out-of-paris-motor-show/20278258/article-detail.xml 20278258 http://www.blogcdn.com/www.autoblog.com/media/2012/07/lotusnoparis_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/07/lotusnoparis.jpg <![CDATA[Dany Bahar to sue Lotus over dismissal]]>http://www.autoblog.com/2012/06/18/dany-bahar-to-sue-lotus-over-dismissal/http://www.autoblog.com/2012/06/18/dany-bahar-to-sue-lotus-over-dismissal/http://www.autoblog.com/2012/06/18/dany-bahar-to-sue-lotus-over-dismissal/#commentsFiled under: , , , , ,

Dany Bahar - former Lotus CEO.

Lotus and parent company DRB-Hicom haven't offered much commentary on the suspension and eventual firing of former CEO Dany Bahar. European newspapers and websites, on the other hand, have been having a field day reporting on various financial missteps rumored to have taken place with Bahar at the helm.

Amidst reports that Bahar was fired due to the misappropriation of company funds for personal reasons, Swiss newspaper Bilanz (via MSN UK) is now claiming that Bahar plans to sue his former company for wrongful termination. The paper reports that Bahar denies the allegations made against him and will file suit in London's High Court.

As you might expect with litigation in the offing, neither Bahar nor Lotus are commenting on the report.

Dany Bahar to sue Lotus over dismissal originally appeared on Autoblog on Mon, 18 Jun 2012 16:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bahardany bahardrb-hicomlawsuitlotuslotus ceoMon, 18 Jun 2012 16:31:00 EST http://www.autoblog.com/feed/20260925/article-comments.xml http://www.autoblog.com/feed/2012/06/18/dany-bahar-to-sue-lotus-over-dismissal/20260925/article-detail.xml 20260925 http://www.blogcdn.com/www.autoblog.com/media/2012/06/dany-bahar_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/06/dany-bahar.jpg <![CDATA[Autoblog Podcast #286]]>http://www.autoblog.com/2012/06/12/autoblog-podcast-286/http://www.autoblog.com/2012/06/12/autoblog-podcast-286/http://www.autoblog.com/2012/06/12/autoblog-podcast-286/#commentsFiled under: , , , , , ,

Lincoln is the future, front-wheel-drive BMW 1 Series, Dany Bahar fired, GM bonuses tied to sales

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Episode #286 of the Autoblog Podcast is here, and this week, Chris, Dan and Chris Paukert chat about Lincoln being held up as the future of the American car industry, the upcoming front-wheel-drive BMW 1 Series, the firing of Dany Bahar, and GM tying bonuses to accountability. Your questions and comments power the end of the 'cast, and for those of you who hung with us live on our UStream channel, thanks for taking the time. We've embedded our Q&A module after the jump for you to scroll through and follow along, too. Thanks for listening!

Autoblog Podcast #286:



Topics:

In the Autoblog Garage:
2012 Nissan Juke
2012 Audi TT RS
2012 BMW 528i


Hosts: Dan Roth, Chris Shunk, Chris Paukert
Runtime: 01:06:42
Get the podcast
[UStream] Listen live on Mondays at 10PM Eastern at UStream
[iTunes] Subscribe to the Autoblog Podcast in iTunes
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Email: Podcast at Autoblog dot com

Review the show in iTunes

Continue reading Autoblog Podcast #286

Autoblog Podcast #286 originally appeared on Autoblog on Tue, 12 Jun 2012 17:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>audi tt-rsautoblog podcastautoblog podcast 286bmw 1 seriesbmw 528dany bahardany bahar lotusfeaturedfront drive bmwlincoln mkznissan jukeTue, 12 Jun 2012 17:45:00 ESTAutoblog Podcast #286Autoblog01:06:42 http://www.autoblog.com/feed/20257151/article-comments.xml http://www.autoblog.com/feed/2012/06/12/autoblog-podcast-286/20257151/article-detail.xml 20257151 http://www.blogcdn.com/www.autoblog.com/media/2011/06/podcastlivev2stamp_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/06/podcastlivev2stamp.jpg <![CDATA[Submit your questions for Autoblog Podcast #286 LIVE]]>http://www.autoblog.com/2012/06/11/submit-your-questions-for-autoblog-podcast-286-live/http://www.autoblog.com/2012/06/11/submit-your-questions-for-autoblog-podcast-286-live/http://www.autoblog.com/2012/06/11/submit-your-questions-for-autoblog-podcast-286-live/#commentsFiled under: , , , ,

Autoblog Podcast graphic

We record Episode #286 of the Autoblog Podcast tonight, meaning you can drop us your questions via our Q&A module below and chime in to direct our conversation. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.

Discussion Topics for Autoblog Podcast Episode #286
[iTunes] Subscribe to the Autoblog Podcast in iTunes
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Submit your questions for Autoblog Podcast #286 LIVE originally appeared on Autoblog on Mon, 11 Jun 2012 17:55:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>autoblog podcastautoblog podcast topicsdany bahardany bahar fireddany bahar lotusfront wheel drive bmwgeneral motorslincolnMon, 11 Jun 2012 17:55:00 EST http://www.autoblog.com/feed/20255483/article-comments.xml http://www.autoblog.com/feed/2012/06/11/submit-your-questions-for-autoblog-podcast-286-live/20255483/article-detail.xml 20255483 http://www.blogcdn.com/www.autoblog.com/media/2011/06/podcastlivev2stamp_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/06/podcastlivev2stamp.jpg <![CDATA[Lotus fires CEO Dany Bahar amidst controversy]]>http://www.autoblog.com/2012/06/08/lotus-fires-ceo-dany-bahar-amidst-controversy/http://www.autoblog.com/2012/06/08/lotus-fires-ceo-dany-bahar-amidst-controversy/http://www.autoblog.com/2012/06/08/lotus-fires-ceo-dany-bahar-amidst-controversy/#commentsFiled under: ,

Lotus has fired CEO Dany Bahar and appointed Aslam Farikullah as the company's Chief Operating Officer, effective immediately. The move was unsurprising, as an investigation into Bahar's expenses had led to his suspension last week.

The 51-year-old Farikullah is said to have over 26 years of professional experience, most of it in the auto industry, according to a statement issued by Lotus.

Lotus didn't offer any explanation or provide any details about the Bahar scandal, telling Car that his dismissal was confidential. Other reports indicate that he was, in fact, fired for misuse of company funds, something that European regulators take a dim view of.

Scroll down to read the brief statement from Lotus.

Continue reading Lotus fires CEO Dany Bahar amidst controversy

Lotus fires CEO Dany Bahar amidst controversy originally appeared on Autoblog on Fri, 08 Jun 2012 13:31:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aslam farikullahbahardany bahardrbdrb-hicomlotuslotus ceoFri, 08 Jun 2012 13:31:00 EST http://www.autoblog.com/feed/20254452/article-comments.xml http://www.autoblog.com/feed/2012/06/08/lotus-fires-ceo-dany-bahar-amidst-controversy/20254452/article-detail.xml 20254452 http://www.blogcdn.com/www.autoblog.com/media/2012/06/dany-bahar-lotus-ceo_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/06/dany-bahar-lotus-ceo.jpg <![CDATA[Autoblog Podcast #284]]>http://www.autoblog.com/2012/05/30/autoblog-podcast-284/http://www.autoblog.com/2012/05/30/autoblog-podcast-284/http://www.autoblog.com/2012/05/30/autoblog-podcast-284/#commentsFiled under: , , , , , , , , ,

Fiat and Mazda teaming up, Consumer Reports eco-trim test, Aston Martin AM310, BMW Zagato Coupe, Dany Bahar suspended

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Episode #284 of the Autoblog Podcast is here, and this week, Chris, Dan and Zach chat about Mazda and Fiat collaborating on the next MX-5 Miata and Spyder, Consumer Reports' test of eco-trim compacts, the Aston Martin AM310 and BMW Zagato Coupe that debuted at Villa d'Este, and the suspension of Dany Bahar from Lotus over alleged misconduct. Your questions and comments power the end of the 'cast, and for those of you who hung with us live on our UStream channel, thanks for taking the time. We've embedded our Q&A module after the jump for you to scroll through and follow along, too. Thanks for listening!

Autoblog Podcast #284:



Topics:

In the Autoblog Garage:
2012 Volvo XC70 T6 Polestar
2012 Nissan Quest
2013 Acura RDX


Hosts: Dan Roth, Chris Shunk, Zach Bowman
Runtime: 01:16:07
Get the podcast
[UStream] Listen live on Mondays at 10PM Eastern at UStream
[iTunes] Subscribe to the Autoblog Podcast in iTunes
[RSS] Add the Autoblog Podcast feed to your RSS aggregator
[MP3] Download the MP3 directly

Feedback
Email: Podcast at Autoblog dot com

Review the show in iTunes

Continue reading Autoblog Podcast #284

Autoblog Podcast #284 originally appeared on Autoblog on Wed, 30 May 2012 17:45:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>alfa romeo spyderaston martin am310autoblog podcastautoblog podcast 284bmw zagato coupedany bahardany bahar suspendedfeaturedmazda alfamazda alfa romeomazda fiatmiatamx-5 miatanissan questpolestarquestrdxvilla destevolvo xc70xc70z4Wed, 30 May 2012 17:45:00 ESTAutoblog Podcast #284Autoblog01:16:07 http://www.autoblog.com/feed/20247972/article-comments.xml http://www.autoblog.com/feed/2012/05/30/autoblog-podcast-284/20247972/article-detail.xml 20247972 http://www.blogcdn.com/www.autoblog.com/media/2011/06/podcastlivev2stamp_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/06/podcastlivev2stamp.jpg <![CDATA[Submit your questions for Autoblog Podcast #284 LIVE]]>http://www.autoblog.com/2012/05/29/submit-your-questions-for-autoblog-podcast-284-live/http://www.autoblog.com/2012/05/29/submit-your-questions-for-autoblog-podcast-284-live/http://www.autoblog.com/2012/05/29/submit-your-questions-for-autoblog-podcast-284-live/#commentsFiled under: , , , ,

Autoblog Podcast graphic

We record Episode #284 of the Autoblog Podcast tonight, meaning you can drop us your questions via our Q&A module below and chime in to direct our conversation. Subscribe to the Autoblog Podcast in iTunes if you haven't already done so, and if you want to take it all in live, tune in to our UStream (audio only) channel at 10:00 PM Eastern tonight.

Discussion Topics for Autoblog Podcast Episode #284
[iTunes] Subscribe to the Autoblog Podcast in iTunes
[RSS] Add the Autoblog Podcast feed to your RSS aggregator

Submit your questions for Autoblog Podcast #284 LIVE originally appeared on Autoblog on Tue, 29 May 2012 16:41:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>aston martinaston martin am310autoblogautoblog podcast liveautoblog podcast topicsconsumer reportsdany baharfiat mazdafiat roadsterlotus dany baharmazda mx-5 miatamazda roadstermiatamx-5podcastvilla desteTue, 29 May 2012 16:41:00 EST http://www.autoblog.com/feed/20247018/article-comments.xml http://www.autoblog.com/feed/2012/05/29/submit-your-questions-for-autoblog-podcast-284-live/20247018/article-detail.xml 20247018 http://www.blogcdn.com/www.autoblog.com/media/2011/06/podcastlivev2stamp_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/06/podcastlivev2stamp.jpg <![CDATA[Lotus boss Dany Bahar suspended by Malaysian owners]]>http://www.autoblog.com/2012/05/27/lotus-boss-dany-bahar-suspended-by-malaysian-owners/http://www.autoblog.com/2012/05/27/lotus-boss-dany-bahar-suspended-by-malaysian-owners/http://www.autoblog.com/2012/05/27/lotus-boss-dany-bahar-suspended-by-malaysian-owners/#commentsFiled under: , , , ,

Lotus CEO Dany Bahar with Evora

DRB-Hicom has suspended Lotus CEO Dany Bahar pending an investigation into the executive's conduct. While the sports car manufacturer's parent company has declined to comment on exactly which facet of Bahar's conduct is in question, The Telegraph reports the inquiry may be related to expenses. DRB-Hicom is said to have confiscated Bahar's laptop and mobile phone as part of the investigation. Reportedly, the executive rented in two homes in Norwich, both paid for by Lotus.

As you may recall, DRB-Hicom purchased Lotus parent company Proton in January. The sportscar manufacturer's future has been uncertain since then, though Proton has made it clear it has no intention of selling the company in the near future. Day-to-day operations will now be handled by three representatives of the Lotus parent companies, including Dato' Lukman Ibrahim, Mohd Khalid Yusof and Aslam Farikullah.

Lotus boss Dany Bahar suspended by Malaysian owners originally appeared on Autoblog on Sun, 27 May 2012 15:06:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dany bahardany bahar suspendeddany bahar suspensiondrb-hicomlotusprotonsuspendedsuspensionSun, 27 May 2012 15:06:00 EST http://www.autoblog.com/feed/20246041/article-comments.xml http://www.autoblog.com/feed/2012/05/27/lotus-boss-dany-bahar-suspended-by-malaysian-owners/20246041/article-detail.xml 20246041 http://www.blogcdn.com/www.autoblog.com/media/2012/05/lotus-ceo-dany-bahar-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/05/lotus-ceo-dany-bahar-628.jpg <![CDATA[Proton has no plans to sell Lotus]]>http://www.autoblog.com/2012/05/11/proton-has-no-plans-to-sell-lotus/http://www.autoblog.com/2012/05/11/proton-has-no-plans-to-sell-lotus/http://www.autoblog.com/2012/05/11/proton-has-no-plans-to-sell-lotus/#commentsFiled under: , , , , ,

Lotus Evora

Lotus isn't going anywhere, according to parent company Proton. Autocar reports representatives of Proton's new owner, DRB-HICOM, stopped by Lotus HQ to reassure the company's staff.

Dato Sri Haji Mohd Khamil Bin Jamil, DRB-HICOM group managing director, said his company "is not thinking about a sale." While the executive said that he could never fully dismiss the prospect of sending Lotus off to another owner, right now such a move isn't one of his company's top priorities. Instead, figuring out a course for Lotus could take months. In the meantime, Dato Jamil said his company would continue to support Lotus financially.

Until recently, Proton was owned by the Malaysian government, but DRB-HICOM purchased the company three months ago. Since then, the future of Lotus has been anything but certain. All production and development stopped for 60 days after the deal was inked, but has now officially resumed. Even so, with no clear long-term decision from DRB-HICOM, it remains unclear whether Lotus will pursue the five-year plan laid out by company CEO Dany Bahar.

Proton has no plans to sell Lotus originally appeared on Autoblog on Fri, 11 May 2012 13:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dany bahardato sri haji mohd khamil bin jamildrb-hicomlotuslotus saleprotonFri, 11 May 2012 13:59:00 EST http://www.autoblog.com/feed/20235435/article-comments.xml http://www.autoblog.com/feed/2012/05/11/proton-has-no-plans-to-sell-lotus/20235435/article-detail.xml 20235435 http://www.blogcdn.com/www.autoblog.com/media/2012/05/lotus-evora-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/05/lotus-evora-628.jpg <![CDATA[Lotus scrapes together enough money to restore production]]>http://www.autoblog.com/2012/04/27/lotus-scrapes-together-enough-money-to-restore-production/http://www.autoblog.com/2012/04/27/lotus-scrapes-together-enough-money-to-restore-production/http://www.autoblog.com/2012/04/27/lotus-scrapes-together-enough-money-to-restore-production/#commentsFiled under: , , ,

2012 lotus cars

"The past four months have been really tough for us," admits Lotus CEO Dany Bahar to Autocar magazine. "We were working at a pace nobody had seen at Lotus for many years," Bahar continued, alluding to the British sports car maker's planned rollout of four models over five years that recently had recently hit the skids thanks to a 60-day financial freeze at Malaysian parent DRB-Hicom. "The shut-down, as I call it," Bahar continued, "was very hard for us," but the Lotus boss forcefully rejects media reports that his company is being shopped to potential buyers.

Production at Hethel is reportedly swinging back into action within the next few days now that DRB-Hicom has slid money across the table to re-start Elise, Exige and Evora production. Lotus will also reportedly continue to develop the new Esprit and its V8 engine and automated transmission. Bahar went on to dispute reports that KPMG was looking for a buyer to take on Lotus, though there are likely to be management shuffles and continuing developments between Lotus, DRB-Hicom, Youngman, and who know what other parties, as the re-start doesn't completely short-circuit the rumors of a possible sale.

In fact, resuming production could potentially even position Lotus more attractively for a potential suitor, rather than putting a shuttered, down-at-the-mouth boutique carmaker on the block.

Lotus scrapes together enough money to restore production originally appeared on Autoblog on Fri, 27 Apr 2012 16:15:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dany bahardrb-hicomeliseespritevoraexigelotuslotus productionFri, 27 Apr 2012 16:15:00 EST http://www.autoblog.com/feed/20225469/article-comments.xml http://www.autoblog.com/feed/2012/04/27/lotus-scrapes-together-enough-money-to-restore-production/20225469/article-detail.xml 20225469 http://www.blogcdn.com/www.autoblog.com/media/2012/04/lotus-evora_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/04/lotus-evora.jpg <![CDATA[Lotus model development on lockdown as company looks to change hands]]>http://www.autoblog.com/2012/03/14/lotus-model-development-on-lockdown-as-company-looks-to-change-h/http://www.autoblog.com/2012/03/14/lotus-model-development-on-lockdown-as-company-looks-to-change-h/http://www.autoblog.com/2012/03/14/lotus-model-development-on-lockdown-as-company-looks-to-change-h/#commentsFiled under: , , , , ,

Lotus Exige S live on show floor

Lotus has put a halt to all development of future models. The news comes after the Malaysian government sold its controlling stake in Lotus parent company Proton. According to EVO, the company's takeover regulations require all involved parties to enter into a "lockdown" wherein anything outside of normal business is brought to a halt. For Lotus, that means stalling development for 60 days and pushing back launch dates for vehicles like the Exige S, Evora GTE and the upcoming Esprit successor. Lotus CEO Dany Bahar is currently engaged in talks with DRB-Hicom, Proton's new owner, in an attempt to ensure the industrial conglomerate holds onto the sports car maker.

Odds are we won't know what the future has in store for Lotus until after the due diligence period comes to a close. In the mean time, Lotus will continue to build and sell cars as well as engage motorsports efforts. It will also be the featured marque at the 2012 Goodwood Festival of Speed.

Lotus model development on lockdown as company looks to change hands originally appeared on Autoblog on Wed, 14 Mar 2012 10:30:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dany bahardrb-hicomespritexigelotuslotus carslotus saleprotonWed, 14 Mar 2012 10:30:00 EST http://www.autoblog.com/feed/20192382/article-comments.xml http://www.autoblog.com/feed/2012/03/14/lotus-model-development-on-lockdown-as-company-looks-to-change-h/20192382/article-detail.xml 20192382 http://www.blogcdn.com/www.autoblog.com/media/2012/03/lotus-exige-s-628_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/03/lotus-exige-s-628.jpg <![CDATA[CEO Dany Bahar looking for a buyer for Lotus]]>http://www.autoblog.com/2012/02/02/ceo-dany-bahar-looking-for-a-buyer-for-lotus/http://www.autoblog.com/2012/02/02/ceo-dany-bahar-looking-for-a-buyer-for-lotus/http://www.autoblog.com/2012/02/02/ceo-dany-bahar-looking-for-a-buyer-for-lotus/#commentsFiled under: , ,

Lotus Esprit concept

Reports this week out of London indicate that Lotus CEO Dany Bahar seeks a partner, or even a purchaser, for the Hethel firm. Malaysian automaker Proton currently owns Lotus, but Proton was taken over in January when Malaysian auto parts supplier DRB-Hicom bought the government's controlling interest. The trend with new ownership is to put every project on the table for review, and with Lotus in the midst of massive initiatives - Esprit, Elan, Eterne, new Elise and in-house V8 - it makes sense that Bahar isn't wasting time arranging options.

Although it's not exactly as if Bahar just started looking for a buyer. In summer 2011, Proton's position was shaky enough that Bahar publicly sought outside investment, with Toyota often mentioned as a hypothetical mate.

It is said that Bahar wants £500 million ($792 million U.S.), roughly two-thirds the amount Proton (via bank loans) was said in 2010 to be committing to the brand's revival. As one would expect, Chinese interests are suspected as potential buyers, but only one possible suitor has been named so far, that being Genii Capital, which owns the Lotus Formula 1 team.

CEO Dany Bahar looking for a buyer for Lotus originally appeared on Autoblog on Thu, 02 Feb 2012 17:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dany bahardrb-hicomlotuslotus protonmalaysiaprotonThu, 02 Feb 2012 17:29:00 EST http://www.autoblog.com/feed/20161585/article-comments.xml http://www.autoblog.com/feed/2012/02/02/ceo-dany-bahar-looking-for-a-buyer-for-lotus/20161585/article-detail.xml 20161585 http://www.blogcdn.com/www.autoblog.com/media/2012/02/baharlotusbuyer_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2012/02/baharlotusbuyer.jpg <![CDATA[Investors' advice to Proton: Sell Lotus]]>http://www.autoblog.com/2011/12/29/investors-advice-to-proton-sell-lotus/http://www.autoblog.com/2011/12/29/investors-advice-to-proton-sell-lotus/http://www.autoblog.com/2011/12/29/investors-advice-to-proton-sell-lotus/#commentsFiled under: ,



There's a lot of smoke going on over at Lotus, but we still have a while to wait before we get the first evidence of fire: the new Lotus Espirit and it's in-house V8 won't be here until 2013. On the other side of the world, there's a fair bit of smoke and fire happening at Malaysian automaker Proton, which owns Lotus.

The Malaysian government controls Proton and has been investigating a partnership for or sale of the company for a couple of years, but despite its efforts, it hasn't made any deals. The 28-year-old automaker has been losing large chunks of market share, and the government feels that sale to a well-funded global player would be the best solution to insure Proton's long-term future. Although it has named its chosen candidate for a purchase, it isn't clear if anyone has made any serious overtures to that end.

Outside observers believe the first thing Proton should do is get rid of Lotus. The mass-market Malaysian carmaker has almost nothing in common with the tiny, English niche sports car producer, and has done nothing but throw money at Lotus' carmaking arm since 1996 (Lotus Engineering, the technology consultancy, is profitable).

Proton has said it has no intention of selling Lotus. However, if Proton is sold then the new owners could reverse that stance. And if Lotus were unloaded, that puts everything CEO Dany Bahar has planned in serious doubt.

Investors' advice to Proton: Sell Lotus originally appeared on Autoblog on Thu, 29 Dec 2011 18:59:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dany baharlotuslotus salemalaysiaprotonproton saleThu, 29 Dec 2011 18:59:00 EST http://www.autoblog.com/feed/20136104/article-comments.xml http://www.autoblog.com/feed/2011/12/29/investors-advice-to-proton-sell-lotus/20136104/article-detail.xml 20136104 http://www.blogcdn.com/www.autoblog.com/media/2011/12/lotussalerumor_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/12/lotussalerumor.jpg <![CDATA[Lotus Exige to get V6 power, Esprit gets optional hybrid]]>http://www.autoblog.com/2011/12/14/lotus-exige-to-get-v6-power-esprit-gets-optional-hybrid/http://www.autoblog.com/2011/12/14/lotus-exige-to-get-v6-power-esprit-gets-optional-hybrid/http://www.autoblog.com/2011/12/14/lotus-exige-to-get-v6-power-esprit-gets-optional-hybrid/#commentsFiled under: , , , , ,

Lotus Exige S

Autocar has the skinny on the next-generation Lotus Exige and Esprit. Dany Bahar, Group Lotus chief executive, dropped a few details on both models while speaking to the publication about the renewal of his contract with the sports car maker.

Bahar has signed on with Lotus for another four years, which means he'll be around to see the launch of the 2013 Esprit. The vehicle is crucial to Bahar's five-year plan for Lotus and should give the company a legitimate halo vehicle when it goes on sale. Motor Authority reports the vehicle will be available as a hybrid that uses an in-house V8 engine paired with an electric motor.

Meanwhile, additional Esprit models will provide no-compromise performance. Speaking of performance, word has it Lotus will work up its own V6 engine in the near future for use in the company's next-generation Exige. Currently, Lotus relies on Toyota to supply its powerplants.

Bahar has also made it clear that Lotus will expand its motorsport endeavors in the near future as part of his quest to make Lotus a British version of Porsche. We certainly can't complain about that.

Lotus Exige to get V6 power, Esprit gets optional hybrid originally appeared on Autoblog on Wed, 14 Dec 2011 09:29:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>dany baharespritesprit hybridexigehybridlotuslotus espritlotus exigeWed, 14 Dec 2011 09:29:00 EST http://www.autoblog.com/feed/20127240/article-comments.xml http://www.autoblog.com/feed/2011/12/14/lotus-exige-to-get-v6-power-esprit-gets-optional-hybrid/20127240/article-detail.xml 20127240 http://www.blogcdn.com/www.autoblog.com/media/2011/12/lotus-exige-s-628-1323810153_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/12/lotus-exige-s-628-1323810153.jpg <![CDATA[Lotus in search of new buyers?]]>http://www.autoblog.com/2011/06/01/lotus-in-search-of-new-buyers/http://www.autoblog.com/2011/06/01/lotus-in-search-of-new-buyers/http://www.autoblog.com/2011/06/01/lotus-in-search-of-new-buyers/#commentsFiled under: , ,

Lotus CEO Dany Bahar and Toyota president Akio Toyoda
Lotus CEO Dany Bahar and Toyota president Akio Toyoda

There's no question that Lotus needs to sell more cars if it is to survive in an industry rapidly centralizing into major groups. But when CEO Dany Bahar talks about looking for new buyers, he's not talking about selling cars. He's talking about selling the company itself.

Of course, Lotus is not Bahar's to sell, strictly speaking. The company belongs to Proton. But the Malaysian state automaker may not have the necessary resources to provide Lotus with the synergies and shared development which Bahar identifies as crucial to Lotus' future success.

A new report from Inside Line quotes Bahar as saying that Lotus may need to partner with a larger automaker in order to develop into a serious player in the sportscar business. All eyes are on Toyota, the Japanese automaker whose engines and other components Lotus currently uses.

The partnership could emerge as something akin to what Aston Martin is fostering with Daimler - that is to say, some sort of an alliance that does not involve selling the company - or could result in the brand being sold, lock stock and barrel, to the auto giant. One way or another, Lotus probably can't go it alone.

Lotus in search of new buyers? originally appeared on Autoblog on Wed, 01 Jun 2011 16:02:00 EST. Please see our terms for use of feeds.

Permalink | Email this | Comments]]>bahardany baharlotuslotus carsprotonWed, 01 Jun 2011 16:02:00 EST http://www.autoblog.com/feed/19955205/article-comments.xml http://www.autoblog.com/feed/2011/06/01/lotus-in-search-of-new-buyers/19955205/article-detail.xml 19955205 http://www.blogcdn.com/www.autoblog.com/media/2011/06/bahar-toyoda_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2011/06/bahar-toyoda.jpg <![CDATA[Report: Lotus city car confirmed for 2013]]>http://www.autoblog.com/2010/12/17/report-lotus-city-car-confirmed-for-2013/http://www.autoblog.com/2010/12/17/report-lotus-city-car-confirmed-for-2013/http://www.autoblog.com/2010/12/17/report-lotus-city-car-confirmed-for-2013/#commentsFiled under: , , , , , ,

Lotus City Car

Lotus unveiled a flurry of new concept models earlier this year at the 2010 Paris Motor Show. Five brand-new concepts took center stage, but there was a sixth vehicle unveiled that got far less press - the Lotus City Car. According to CAR Magazine, Lotus head Dany Bahar says that the City Car will arrive in production form for an October 2013 launch date.

The City Car rides on a platform developed for a range-extended hybrid powertrain. A 1.2-liter three-cylinder engine powers electric drive motors, which are mated to a single-speed transmission. This means that around town, the Lotus City Car will be able to run solely on battery power, while the gasoline engine can kick on for needed assistance if necessary.

Lotus is planning to build three versions of the City Car; one for Asia, a European version and eventually a sportier model.

[Source: CAR Magazine]

Report: Lotus city car confirmed for 2013 originally appeared on Autoblog on Fri, 17 Dec 2010 18:28:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>city cardany baharelectrichybridhybrid electriclotuslotus city carlotus parisurban transportFri, 17 Dec 2010 18:28:00 EST http://www.autoblog.com/feed/19766827/article-comments.xml http://www.autoblog.com/feed/2010/12/17/report-lotus-city-car-confirmed-for-2013/19766827/article-detail.xml 19766827 http://www.blogcdn.com/www.autoblog.com/media/2010/12/lotus-city-car_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2010/12/lotus-city-car.jpg <![CDATA[Lotus planning to build V8 in-house?]]>http://www.autoblog.com/2010/12/16/lotus-planning-to-build-v8-in-house/http://www.autoblog.com/2010/12/16/lotus-planning-to-build-v8-in-house/http://www.autoblog.com/2010/12/16/lotus-planning-to-build-v8-in-house/#commentsFiled under: , , ,

2010 Lotus Esprit concept
Lotus Esprit Concept - Click above for high-res image gallery

Might Lotus, in its unerring though recently intensified quest to take on Ferrari, develop its own V8 engine for use in the promised-before-2013 Esprit? According to company head Dany Bahar, it's a distinct possibility.

It should be mentioned that Lotus is quite the well-sorted engineering firm. In fact, the British automaker has designed three complete engines for other manufacturers and last produced its own V8 engine from 1996 through 2004 in the then-current Esprit.

If it does indeed develop its own engine architecture, Autocar suggests it will be seen in V8 form in the Esprit and V6 form in the Elan, which is slated to follow about six months after the Esprit. And what of the Toyota-sourced powerplants - currently seen in the Lotus Elise, Exige and Evora and shown off in the five conceptual new sports cars recently unveiled at the Paris Motor Show - we've come to expect from Lotus?

"In the mind of sports-car enthusiasts, Toyota power might not be good enough," admitted Bahar. In the end, though, the decision may come down to simple dollars and cents, and we're certainly looking forward to seeing how it all plays out in the coming few years.


Gallery: Paris 2010: Lotus Esprit Concept


Photos copyright (C)2010 Drew Phillips / AOL

[Source: Autocar]

Lotus planning to build V8 in-house? originally appeared on Autoblog on Thu, 16 Dec 2010 10:58:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>2012 lotus espritDany baharespritlotuslotus espritlotus v8Thu, 16 Dec 2010 10:58:00 EST http://www.autoblog.com/feed/19763734/article-comments.xml http://www.autoblog.com/feed/2010/12/16/lotus-planning-to-build-v8-in-house/19763734/article-detail.xml 19763734 http://www.blogcdn.com/www.autoblog.com/media/2010/09/01lotusespritparisliveopt_thumbnail.jpg http://www.blogcdn.com/www.autoblog.com/media/2010/09/01lotusespritparisliveopt.jpg -1 2