Luxury marque Lotus Cars has raised £74 million to fuel its transition to electric vehicles, as the Norfolk-based firm scraped back into profit.
The sports car maker has tapped owners Geely of China and Malaysia’s Etika Automotive for a £24 million loan, while Santander has supplied a further £50 million in borrowings to “support the continued growth of the group”. The funding is primarily for Lotus’s switch to electric vehicles and the development of a new car body that will form the basis of models from 2026, including the cryptically named “Type 135”.
According to its latest accounts, revenue at Lotus Group International climbed to £94 million in the year to December, from £73 million the year before, as it shipped 1,566 cars — a
