Official: Lotus will not be sold

Article by Christian Andrei, on May 28, 2012

Last Saturday we announced you guys that Lotus CEO Dany Bahar was suspended by company’s new Malaysian owner and this appears that it created lots of buzz as DBR-Hicom released an official press release today. According to the new owner, Lotus can provide value to Proton and as a result it will not be sold.

Regarding Dany Bahar, the company wanted to clear things out and said that he was temporarily suspended in order to facilitate an investigation into a complain about his conduct made by DRB-Hicom. Moreover, DRB-Hicom is currently reviewing existing business plans and finances of all Lotus Group companies.

Of course, if Bahar will be cleared and back at Lotus, it is a sign that the new company will want to continue his turnaround plan. If not, the 1,000 Lotus employees will get angry as it will be a lot of uncertainty on where Lotus goes from here. Back in April, DRB-Hicom, controlled by billionaire Syed Mokhtar Al- Bukhary, hired KMPG consultants in order to evaluate Lotus. If you ask us, this could be a move to sell the well-known British sports cars manufacturer.

Topics: lotus

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