Lotus cars are manufactured by the British specializing in sports cars and racing cars, famous for the Esprit, Elan, Europa and Elise sports cars and for the highly successful Team Lotus in Formula 1. They are based at the former site of RAF Hethel, a World War II airfield in Norfolk. The company designs and builds race and production automobiles of light weight and fine handling characteristics. The company was formed as Lotus Engineering Ltd. by engineers Colin Chapman and Colin Dare, both graduates of University College, London, in 1952. The first factory was in old stables behind the Railway Hotel in Hornsey, North London. The Lotus Group of Companies was formed in 1959. The company moved to a purpose built factory at Cheshunt in 1959 and since 1966 the company has occupied a modern factory and road test facility at Hethel, near Wymondham. By 1980, Group Lotus was in serious financial trouble. Production had dropped from 1,200 units per year to a mere 383. Reason being that the world was in the middle of an economic recession, sales in the key United States market had virtually collapsed. In early 1982, Chapman came to an agreement with Toyota over an exchange on intellectual property and applied expertise. Chapman died of a heart attack in 1982 at the age of 54. At the time of his death, both Chapman and Lotus were linked with the DeLorean Motor Company scandal over the use of UK Government subsidies for the production of the DeLorean DMC-12, for which Lotus had designed the chassis.
Friday, August 22, 2014
Lotus Cars
Lotus cars are manufactured by the British specializing in sports cars and racing cars, famous for the Esprit, Elan, Europa and Elise sports cars and for the highly successful Team Lotus in Formula 1. They are based at the former site of RAF Hethel, a World War II airfield in Norfolk. The company designs and builds race and production automobiles of light weight and fine handling characteristics. The company was formed as Lotus Engineering Ltd. by engineers Colin Chapman and Colin Dare, both graduates of University College, London, in 1952. The first factory was in old stables behind the Railway Hotel in Hornsey, North London. The Lotus Group of Companies was formed in 1959. The company moved to a purpose built factory at Cheshunt in 1959 and since 1966 the company has occupied a modern factory and road test facility at Hethel, near Wymondham. By 1980, Group Lotus was in serious financial trouble. Production had dropped from 1,200 units per year to a mere 383. Reason being that the world was in the middle of an economic recession, sales in the key United States market had virtually collapsed. In early 1982, Chapman came to an agreement with Toyota over an exchange on intellectual property and applied expertise. Chapman died of a heart attack in 1982 at the age of 54. At the time of his death, both Chapman and Lotus were linked with the DeLorean Motor Company scandal over the use of UK Government subsidies for the production of the DeLorean DMC-12, for which Lotus had designed the chassis.
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