Norfolk based Lotus Cars is to create 100 new jobs thanks to a cash injection of £100m.
The funding comes from DRB-HICOM, the Malaysian firm that bought Proton in January 2012, thereby acquiring Lotus, its then owner. The new money will be used in part to fund 45 specialist engineers, 40 manufacturing operatives and 18 graduate positions.
Lotus has experienced increased demand for its products recently, and the new jobs will help the firm raise production as well as meet predicted demand for its engineering consultancy services.
The new employees, which join 1,100 working for Lotus UK-wide, will also help the company develop new product lines.
Lotus chief operating officer Aslam Farikullah said: It's been a period of substantial change at Lotus and we are now in a strong position to expand our work on future products and to increase production in our manufacturing facilities."
The famous British sports car brand will also look into new markets, since over 90 per cent of Lotus cars are exported overseas.
There was talk earlier in the year about financial troubles being experienced by the car maker, but these appear to have been resolved. They have received the financial equivalent of a vehicle recovery provider in the form of DRB-HICOM. Workers will no doubt be heartened by the new investment, the promise of new jobs, and the strong demand for Lotus Cars outside the UK.
Over the last decade there has been a resurgence in British-based car brands such as Land Rover, Jaguar and Mini, all of which have arguably improved their build quality and consumer appeal immeasurably over previous model lines. Burgeoning middle-income wealth in China, India and the Middle East are likely to drive further demand for Lotus cars.
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