Ownership of Lotus Cars: A Historical Timeline

[Vampyre]

Ownership of Lotus Cars: A Historical Timeline​

Lotus Cars, an iconic British producer of sports and racing cars, has undergone several ownership changes over the years. Here is a brief overview:

1. Colin Chapman (1948-1982)​

Colin Chapman founded Lotus Engineering Ltd. in 1948 and built the first Lotus car, the Lotus Mk I. Chapman's philosophy emphasized lightness as key to developing great sports cars.

2. General Motors (1986-1993)​

After Chapman's death in 1982, General Motors acquired Lotus in 1986. During this period, Lotus developed the Lotus Elan and the Lotus Carlton.

3. Romano Artioli (1993-1996)​

General Motors sold Lotus to Italian businessman Romano Artioli in 1993. Artioli's ownership was marked by financial struggles.

4. DRB-HICOM (1996-2017)​

In 1996, Malaysian conglomerate DRB-HICOM acquired Lotus through its subsidiary Proton. During this period, Lotus developed the Lotus Elise and the Lotus Exige.

5. Zhejiang Geely Holding Group (2017-present)​

In 2017, Chinese multinational automotive company Zhejiang Geely Holding Group acquired a 51% stake in Lotus. Geely provides Lotus with financial resources and access to its automotive technologies.

6. Etika Automotive (2021-present)​

In 2021, Etika Automotive, a holding company of Proton's major shareholder, acquired the remaining 41% stake in Lotus.

 

[centerpunch]

Uh, sorta kinda. Not exactly.

The story is more complicated than that, and the Elise development was earlier.

And pretty sure someone must have owned the company between 1982 and 1986.

 

[Nick in Sydney]

6. Etika Automotive (2021-present)​

In 2021, Etika Automotive, a holding company of Proton's major shareholder, acquired the remaining 41% stake in Lotus.

This is out of date. Geely owns 51% and effectively controls the business. Lotus Cars has a complex ownership structure given its messy history . . .

Lotus Cars Limited (the operating company) is 100% owned by Group Lotus Limited, a UK holding company that also owns the Lotus trademark. Then there are two more layers of holding companies:

-- Group Lotus Limited is 100% owned by Lotus Group International Limited
-- Lotus Group International Limited is 100% owned by Lotus Advance Technologies, a Malaysian holding company. This company is 51% owned by Geely HK and 49% owned by Etika (Proton).

Interestingly, Lotus Cars Limited, the operating business, has only two directors, both Chinese. Matt Windle isn't a board director.

The financial accounts include this statement: "The directors regard Zhejiang Geely Holding Co Group Limited, a company incorporated in China, as the ultimate holding company and the ultimate controlling party."

 

[Speedy Emira]

Interestingly, Lotus Cars Limited, the operating business, has only two directors, both Chinese. Matt Windle isn't a board director.

Isn’t Matt the MD? Not doubting but I thought to be MD you had to be a director at Companies House unless maybe he’s on one of the holding companies?

What a mess

 

[Nick in Sydney]

Isn’t Matt the MD? Not doubting but I thought to be MD you had to be a director at Companies House unless maybe he’s on one of the holding companies?

It's customary, but I don't think there's any requirement under the Companies Act. In private companies I've certainly come across shareholders who don't want the MD to be on the board or MDs who don't want to take on the perceived legal risk of being a director.

 

[Yorkie]

If you have a read of some of the documents on the various "filing history" tabs, lots of info/history here at UK Companies house.

Lotus Cars Limited. Which has 3 people on the BoD. This company controls Lotus Engineering Limited (which seems to be a dormant company?).

Lotus Cars Limited are owned/controlled by Lotus Group International Limited. Which has 6 people on the BoD.

And Lotus Group International is controlled by Shufu Li (the 61 year old founder and chairman of Geely).

He is also listed as controlling Geely UK Limited.

Geely UK Limited controls Geely Financeco UK Limited, Emerald Automotive Design Limited, London EV Company Limited and The London Taxi Corporation Limited, all based in Coventry.

Lotus Group International Limited controls several companies registered at Hethel including Lotus Motorsport Limited (dormant company?), Group Lotus Limited and of course Lotus Cars Limited.

Lots of reading there for you if you're bored! This only covers the UK listed companies.

 

[Yorkie]

Shufu Li also controls Lotus Technology Innovation Limited in Coventry.

This company controls Lotus Tech Creative Centre Limited and the sales and marketing companies across Europe.