Lotus gets £10.4m grants from UK govt

Sports car manufacturer, Lotus, has secured £10.4 million in Regional Growth Fund Grants from the British government to help create job opportunities.

Proton Holdings Bhd managing director, Datuk Seri Syed Zainal Abidin Syed Mohamed Tahir said the funding, showed that the British government recognised Lotus' capability.

Proton is the 100 per cent shareholder of the British sports car.

"This is a good sign and an excellent opportunity for us to work with the British government to reposition the company as a premier technology entity.

"This is perhaps, something, we have not done really well over the past few years. Lotus is still a British company, although owned by Malaysians," he told reporters in Beijing, China today.

The £10.4 million will be used to help create 1,000 jobs as part of a five-year expansion plan. The money will also be used to fund a second factory and assembly line for a new car range. -- Bernama