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19 May 2006

New High-Performance Sportscar to be Built at Hethel

 

Manufacturing Boost for Lotus

The new mid engined sports car from Lotus will be manufactured at the Group Lotus headquarters at Hethel in Norfolk U.K. This car, which is expected to enter production in Spring 2008 will be positioned at the higher end of the Lotus range and will occupy the sector vacated by the Lotus Esprit that finished production in 2004.

The decision to assemble the new car at Hethel follows an extensive evaluation of a number of manufacturing locations around the world by Group Lotus and its shareholder Proton Holdings Bhd.

Lotus has worked at improving the efficiencies and flexibilities within the manufacturing facility over the last 18 months to maintain its position as a leading niche manufacturer within the UK and Europe.

Over the next few months, Lotus will be undergoing a small re-organisation process within the manufacturing facility to further improve the efficiencies and flexibility at Hethel. This will lead to further improvements and gains leading up to the start of production.

Mike Kimberley, Chief Executive for Group Lotus plc says:

"We are very pleased that Hethel has been confirmed by the Board of Directors as the manufacturing location for this vital new car.

However the decision to choose Hethel has not been taken lightly and was influenced not only by our past achievements, but also by firm future commitments to improve the efficiencies and flexibilities within our manufacturing facility. We have a lot of work to do between now and the start of production and this will demand much commitment and hard work from us all at Lotus."