SOURCES: Group Lotus needs a BIG refinancing

According to an article in Malaysia’s ‘The Star Online‘, Proton Holdings Bhd is talking to funders to raise an eye-watering amount of loans and investments totalling RM2.35bil in order to deliver the Group’s 5 year turnaround plans which include launching an unprecedented number of new models by 2012 and selling large numbers of each year on year.

The article is well worth a read.

In view of that it’s hard to understand how Group Lotus has the money to invest large sums in the Renault Formula 1 team at a time when much larger car makers are getting cold feet. Still, I’m sure they know what they’re doing.

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