Everybody who likes to see car racing, Knows a little about Lotus Cars. Lotus cars are one of the oldest manufacturer brands in the history of the car industry. They are very famous for their innovative sports cars and racing cars. Do you know who makes Lotus Cars now?
Geely – Zhejiang Geely Holding Group Corporation Ltd. makes Lotus Cars with a partnership with Etika Automotive. Here,51% partnership is owned by Geely, and the remaining 49% is owned by Etika Automotive.
Here we all know all about Geely and Etika Automotive, the current holding manufacturers of Lotus Cars. Here we go.
Who Are Geely?
Zhejiang Geely Holding Group Corporation Ltd. is commonly called by the name of Geely. It is a Chianese multinational automotive company located in Hangzhou, Zhejiang. It was established in 1986 by Li Shufu who was a Chinese billionaire business magnate. In 1997, Geely first entered the automobile industry and now they are one of the largest automobile manufacturers in China.
General Profile
Type | Private |
---|---|
Industry | Automotive |
Founded | 6 November 1986; 35 years ago in Taizhou, Zhejiang |
Founder | Li Shufu |
Headquarters | Binjiang District, Hangzhou, Zhejiang, China |
Area served | Worldwide |
Key people | Li Shufu (Chairman)An Cong Hui (President) |
Products | Automobiles, engines, transmissions, luxury vehicles |
Revenue | CN¥92.1 billion (2020) |
Operating income | CN¥9.636 billion (2020) |
Net income | CN¥6.44 billion (2020) |
Total assets | CN¥206.74 billion (2020) |
Total equity | CN¥64.21 billion (2020) |
Owner | Li Shufu |
Number of employees | 80,000 |
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Geely Marques and Products
Geely produces and sells vehicles under its own brandings. Such as Geely Auto, Maple, Geometry, and Zeek. Also under foreign-located subsidiaries, such as Volvo Cars, Lynk & Co, Polestar, Proton, Lotus as well as commercial vehicles under the Ruling Auto, London EV Company, and Yuan Cheng Auto brands.
Moreover, they also produce electric vehicles under some of the previously listed brands, including dedicated EV brands such as Geometry, Zeekr, Maple, and Polestar. They sold over 2.2 million cars in 2021 and 17,926 plug-in electric vehicles in January 2022.
Geely’s Subsidiary Brands
Based in China, Geely operates all over the world through a lot of subsidiary brands. Its core business activities are in the automotive industry where it controls the following automotive brands as subsidiaries:
Division | Subsidiaries |
Geely Auto Group | Geely Auto, Lynk and Co, Geometry, Proton |
Volvo Car Group | Volvo Cars, Polestar |
Shanghai Maple Automobile Co., Ltd | ZEEKR Automobile Corporation Limited., Shanghai Maple Guorun Automobile Co., Limited. |
Lotus Group | Lotus Cars, Lotus Technology |
Smart Automobile | Smart |
LEVC | London Electric Vehicle Company |
Geely New Energy Commercial Vehicle Group | Farizon, Hanma Technology, Green Intelligent Link, Ou Ling Auto, Oneworld Technology |
How Geely Buy The Lotus Cars
On 24 May 2017, Lotus Cars were officially taken by Geely. Geely was also in the same automotive industry as Locus. Geely bought Lotus for a $65 million acquisition from the famous British sports car company. Geely holds a 51% stake in the firm, and Malaysia’s Etika Automotive controls the remaining 49%.
This deal also shakes up Lotus’ board of directors. Because Chief Financial Officer of Geely Daniel Donghui Li was made the chairman of the British company. Two other top Geely execs were also on the five-member board.
Who Are Etika Automotive?
Etika Automotive is also an automotive company Geely. Malaysian billionaire Syed Mokhtar is the current owner of this company. Etika Automotive holds the 49% share in Lotus Car with the Zhejiang Geely Holding Group Corporation Ltd.Let’s know who Makes Lotus cars in the past time.
Who Makes Lotus Cars – The Complete History
Colin Chapman first builds a racing car in a garage in 1948. He completed his graduation from University College in London. After his graduation, he formed Lotus Engineering Ltd. with Colin Dare. It was behind Railway Hotel in Hornsey, North London are after sometimes they converted it into the first factory for the company. Thus they formed the Lotus Group of Company in 1959.
In 1966, the factory operations moved to a modern factory & road test facility in Hethel, which was converted from a World War II RAF airfield. Lotus cars were manufactured there to this day. But in 1982 – Colin Chapman dies which made a big change to this company.
The death of Colin brought some big changes for Lotus Group, resulting in the company being owned by many international companies. At first in 1986, General Motors and Toyota buy a share of Lotus Group as co-owners. But Toyota sells out to General Motors 4 months later.
However, General Motors also sells Lotus in 1993 to A.C.B.N Holdings S.A. of Luxembourg. After a few years, Proton (a Malaysian car company) buys the majority share in the company.
Lastly, the Chinese multinational Geely buys a 51% stake in Lotus in 2021 and gives the remaining 49% share to Etika Automotive – a holding company of Proton’s major shareholder.
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All About Lotus Car Engine
To know who makes Lotus cars, you should know about the engine of Lotus cars first.
Lotus Cars are made with the range extender engine which is made of Aluminium. This engine has three cylinders. The most distinct and notable feature of their engine is that it is light and tiny. It only weighs 56 kg.
The Lotus car company is all about lightness. Their motto is based on the fact that lighter cars will go fast than others. For that, they use the range extender engine which is perfect for almost every model.
However, in 2011, they created a new engine for their new model of cars. And this one weighs almost 170 kg which is much heavier than the range extender.
Relation with Toyota Engine
Lotus was built on Toyota’s ZZ Series 375 and 350 horsepower V6 engine and this brand originally came from Toyota a car brand that starts with T.
Two types of Lotus models in the USA use the model numbers Lotus Elise and Exige. Toyota’s older Matrix XRS and Celica GT-S models no longer run on VVTL-i. These versions can neither be found new anymore. Neither version can be taken to the United State as a road-legal vehicle because of a V6 engine like its counterpart the Evora.
Frequently Asked Questions
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Final Words
Well, now you know all about who makes Lotus cars. We tried our best to let know everything about Lotus. Stay connected with us to know more interesting facts like this. Thanks.