Editing Lotus Cars (section)

== History ==
=== Early years ===
The company was formed in 1952 as Lotus Engineering Ltd. by [[Colin Chapman]]  but had earlier origins in 1948 when Chapman built his first trials car in a garage.<ref>{{cite web|url=https://www.lotuscars.com/lotus-1948-1950s-heritage|website=lotuscars.com|title=Lotus Heritage|access-date=8 March 2019|archive-date=12 September 2018|archive-url=https://web.archive.org/web/20180912200049/http://www.lotuscars.com/lotus-1948-1950s-heritage|url-status=dead}}</ref> The four letters in the middle of the logo represent Chapman's full name, Anthony Colin Bruce Chapman. When the logo was created, Chapman's original partners Michael and Nigel Allen were allegedly told that the letters stood for Colin Chapman and the Allen Brothers.<ref name=":2" />{{clarify |date=August 2016 |reason=Was "formed" by two men; "founded" by one man; but four original partners?}}

The first factory was situated in old stables behind the Railway Hotel in [[Hornsey]], North London. [[Team Lotus]], which was split from Lotus Engineering in 1954, was active and competitive in [[Formula One]] racing from 1958 to 1994. The Lotus Group of Companies was formed in 1959. This was composed of Lotus Cars Limited and Lotus Components Limited, which focused on road cars and customer competition-car production, respectively. Lotus Components Limited became Lotus Racing Limited in 1971, but the newly renamed entity ceased operation that same year.<ref name="gglotus">[http://www.gglotus.org/ggrace/ggfaq/general.html Golden Gate Lotus Club] {{Webarchive|url=https://web.archive.org/web/20190601003656/http://www.gglotus.org/ggrace/ggfaq/general.html |date=1 June 2019 }} Retrieved 1 May 2008</ref>

The company moved to a purpose-built factory at [[Cheshunt, Hertfordshire|Cheshunt]] in 1959,<ref>[http://www.historiclotusregister.co.uk/history/history.htm Lotus cars Cheshunt] {{Webarchive|url=https://web.archive.org/web/20080101075656/http://www.historiclotusregister.co.uk/history/history.htm |date=1 January 2008 }}. Retrieved 26 December 2007.</ref> and since 1966 it has occupied a modern factory and road test facility at [[Hethel]], near [[Wymondham]] in [[Norfolk]]. The site is a former [[World War II]] airfield, [[RAF Hethel]], and the test track uses sections of the old runway.

In its early days, Lotus sold cars aimed at private racers and trialists. Its early road cars could be bought as kits in order to save on [[purchase tax]]. The kit car era ended in the late 1960s and early 1970s, with the [[Lotus Elan]] Plus Two as the first Lotus road car not offered in kit form, and the [[Lotus Eclat]] and [[Lotus Elite]] of the mid-1970s were offered only in factory-built versions.

After the Lotus Elite of the 1950s, which featured a complete fibreglass monocoque fitted with built-in steel pickup points for mounting major components, Lotus found critical and sales success in the 1960s with the Lotus Elan. This two-seater was later developed to two-plus-two form (Elan +2S). Lotus was notable for its use of fibreglass bodies, backbone chassis and overhead camshaft engines, initially supplied by [[Coventry Climax]] but later replaced by Lotus-Ford units ([[Ford Motor Company|Ford]] block, Lotus head and twin-cam valve gear). Lotus also worked with Ford on the [[Lotus Cortina]], a successful sports [[Sedan (automobile)|saloon]].

Another Lotus of the late 1960s and early 1970s was the two-seater [[Lotus Europa]], initially intended only for the European market, which paired a backbone chassis and lightweight body with a mid-mounted [[Renault]] engine, later upgraded to the Lotus-Ford twin-cam unit as used in the Elan.

The [[Lotus Seven]], originating in the 1950s as a simple, lightweight open two-seater. continued in production into the early 1970s. Lotus sold the rights to produce the Seven to [[Caterham Cars|Caterham]], which has continued to produce the car since then.

By the mid-1970s, Lotus sought to move upmarket with the launch of the Elite and Eclat models, four-seaters aimed at prosperous buyers, with features such as optional air conditioning and automatic transmissions. The mid-engine line continued with the [[Lotus Esprit]], which became one of the company's longest-lived and most iconic models. Lotus developed its own series of four-cylinder [[DOHC]] engines, the [[Lotus 900 series]], and later a [[V8]], and [[turbocharged]] versions of the engines appeared in the Esprit.

Variants of the 900-series engine were supplied for the [[Jensen Healey]] [[sports car]] and the Sunbeam Lotus "hot hatchback". In the 1980s, Lotus collaborated with [[Vauxhall Motors]] to produce the [[Lotus Carlton]], the fastest roadgoing Vauxhall car.

===Financial troubles, death of Chapman===
By 1980, Group Lotus was in serious financial trouble. Production had dropped from 1,200 units per year to a mere 383. This situation resulted from the worldwide economic [[recession]] combined with the virtual collapse of sales in the American market and limited development of the model range.<ref name=LEWFinChap/>

In early 1982, Chapman forged an agreement with [[Toyota]] to exchange intellectual property and applied expertise. As a result, Lotus Engineering helped develop the Mk2 [[Toyota Supra]], also known as the [[Toyota Celica XX]]. The partnership also allowed Lotus to launch the new [[Lotus Excel]] to replace the ageing [[Lotus Eclat]]. Using drivetrain and other components build by Toyota enabled Lotus to sell the Excel for £1,109 less than the outgoing Eclat.<ref name=LEWFinChap>{{cite web|url=http://www.lotusespritworld.com/EHistory/ChapmanLastYears.html|title=The Final Chapman Years|publisher=LotusEspritWorld.com|access-date=14 July 2012}}</ref>

Looking to reenter the North American market, Chapman was approached by young law professor and investment banking consultant Joe Bianco, who proposed a new and separate American sales company for Lotus.<ref name="ForbesBianco">{{cite web |url=https://people.forbes.com/profile/joseph-bianco/143017 |title=Joseph Bianco Profile - Forbes.com |date=19 December 1983 |access-date=9 September 2017 |archive-url=https://web.archive.org/web/20120313202336/https://people.forbes.com/profile/joseph-bianco/143017 |archive-date=13 March 2012}}</ref> By creating an unprecedented tax-incentivised mechanism by which each investor received a personalised Lotus Turbo Esprit, the new American company, Lotus Performance Cars Inc. (LPCI), was able to provide fresh capital to Group Lotus in the United Kingdom. Former [[Ferrari]] North America general manager John Spiech was recruited to run LPCI, which imported the remarkable [[Giugiaro]]-designed Turbo Esprit for the first time. American sales began to quickly jump into six figures annually.<ref>Car and Driver, "Lotus Lives", April 1983</ref>

Chapman died of a heart attack on 16 December 1982 at the age of 54. At the time, both Chapman and Lotus were linked to the [[DeLorean Motor Company]] scandal regarding the use of [[UK Government]] subsidies for the production of the [[DMC DeLorean]], for which Lotus had designed the chassis. Chasing large sums of money that had disappeared from the DeLorean company, Lotus was besieged by [[Inland Revenue]] inspectors, who imposed an £84 million legal "protective assessment" on the company.<ref name="TelgWickinsObit">{{cite news|url=https://www.telegraph.co.uk/news/obituaries/1541089/David-Wickins.html |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/news/obituaries/1541089/David-Wickins.html |archive-date=11 January 2022 |url-access=subscription |url-status=live|title=Obituary – David Wickins|newspaper=[[Daily Telegraph]]|date=31 January 2007|access-date=14 July 2012}}{{cbignore}}</ref> At the trial of Lotus accountant Fred Bushell, the judge insisted that had Chapman lived, he would have received a sentence "of at least 10 years."<ref>{{cite book|last=Lawrence|first=Mike|title=Wayward Genius|year=2002|publisher=Breedon Books}}</ref>

With Group Lotus near bankruptcy in 1983, [[David Wickins]], the founder of [[British Car Auctions]], agreed to become the new company chairman through an introduction by his friend [[Mark Thatcher]].<ref name="TelgWickinsObit" /> Taking a combined 29% BCA/personal stake in Group Lotus,<ref name="LEWToy" /> Wickins negotiated with Inland Revenue and recruited new investors: [[merchant bank]] [[Schroders|Schroeder-Wagg]] (14%),<ref name="LEWToy" /> [[Michael Ashcroft]]'s [[Bermuda|Bermudian]] operating company Benor (14%)<ref>{{cite news|url=https://www.theguardian.com/politics/2000/jan/16/thatcher.uk1|title=Ashcroft's Lotus position|author=Andy McSmith and Ben Laurance|newspaper=[[The Observer]]|date=16 January 2000|access-date=14 July 2012}}</ref> and [[Anthony Bamford|Sir Anthony Bamford]] of [[J. C. Bamford|JCB]] (12%).<ref name="LEWToy">{{cite web|url=http://www.lotusespritworld.com/EHistory/ToyotaGM.html|title=The Toyota and GM Link|publisher=LotusEspritWorld.com|access-date=14 July 2012}}</ref> Wickins oversaw a complete turnaround in the company's fortunes, for which he was dubbed "the saviour of Lotus."<ref name="TelgWickinsObit" /><ref>{{cite web|url=http://www.gethampshire.co.uk/news/s/2007738_auctions_magnate_began_by_selling_just_one_old_car |title=Auctions magnate began by selling just one old car |publisher=GetHampshire.co.uk |date=13 February 2007 |access-date=14 July 2012 |url-status=dead |archive-url=https://web.archive.org/web/20130623102205/http://www.gethampshire.co.uk/news/s/2007738_auctions_magnate_began_by_selling_just_one_old_car |archive-date=23 June 2013 }}</ref>

===International ownership===
[[File:Final assembly.jpg|thumb|Lotus final assembly]]
Despite having employed designer [[Peter Stevens (car designer)|Peter Stevens]] to revamp the range and design two new concept cars,<ref>{{cite web|url=https://www.peterstevensdesign.co.uk/welcome/biography-|title=Peter Stevens &#124; Biography|website=www.peterstevensdesign.co.uk|access-date=23 June 2020}}</ref> by 1985 the British investors recognised that they lacked the capital to fund production and sought to find a buyer.<ref name=LEWToy/> In January 1986, Wickins oversaw the majority sale of the Group Lotus companies and 100% of North American–based LPCI to [[General Motors Corporation|General Motors]].<ref name=LEWToy/> After four months, Toyota sold GM its stake. By October 1986, GM had acquired a 91% stake in Group Lotus for £22.7 million, which allowed GM to legally force the company buyout.<ref name=LEWToy/>

On 27 August 1993, GM sold the company for £30 million, to A.C.B.N. Holdings S.A. of [[Luxembourg]], a company controlled by Italian businessman [[Romano Artioli]], who also owned [[Bugatti#Bugatti Automobili SpA|Bugatti Automobili SpA]]. In 1996, a majority share in Lotus was sold to Malaysian car company [[PROTON Holdings|Proton]].

Lotus Cars was awarded the [[Queen's Award for Enterprise]] for contribution to international trade, one of 85 companies receiving the recognition in that category in 2002. Lotus cars wore the badge of the award for several years.<ref>{{cite news |title=The Queen's Awards for Enterprise 2002: international trade – Focus: Queen's Awards |newspaper=The Times |publisher=Times Newspapers Limited  |location=London |format=NewsBank |date=22 April 2002 |url=http://docs.newsbank.com/openurl?ctx_ver=z39.88-2004&rft_id=info:sid/iw.newsbank.com:AWNB:LTIB&rft_val_format=info:ofi/fmt:kev:mtx:ctx&rft_dat=0F92034CC007C0A6&svc_dat=InfoWeb:aggregated5&req_dat=0EAD847D4966C8AF |access-date=14 February 2011 }}</ref>

On 24 May 2017, Chinese multinational [[Geely]] announced that it was taking a 51% controlling stake in Lotus.<ref>{{cite web|url=https://www.topgear.com/car-news/chinese-car-giant-geely-has-bought-lotus|title=Chinese car giant Geely has bought Lotus|website=topgear.com|date=24 May 2017 |access-date=25 May 2017}}</ref><ref>{{cite web|url=https://money.cnn.com/2017/05/24/autos/lotus-geely-china-proton/index.html|title=Lotus has been purchased by Chinese automaker Geely|first=Alec|last=Macfarlane|date=24 May 2017|website=CNNMoney|access-date=25 May 2017}}</ref> The remaining 49% was acquired by [[Etika Automotive]], a holding company of Proton's major shareholder [[Syed Mokhtar Albukhary]].<ref>{{cite web|author=Anthony Lim |url=https://paultan.org/2017/05/24/drb-hicom-to-sell-lotus-in-its-entirety-for-100-million-geely-to-acquire-51-etika-automotive-to-buy-49/ |title=DRB-Hicom to sell Lotus in its entirety for £100 million – Geely to acquire 51%, Etika Automotive to buy 49% |publisher=Driven Communications |date=24 May 2017 |access-date=27 May 2017 |archive-url=https://web.archive.org/web/20170527074901/https://paultan.org/2017/05/24/drb-hicom-to-sell-lotus-in-its-entirety-for-100-million-geely-to-acquire-51-etika-automotive-to-buy-49/ |archive-date=27 May 2017 |url-status=live }}</ref>

In January 2021, Geely announced a joint venture with [[Renault–Nissan–Mitsubishi Alliance]] and its [[Automobiles Alpine|Alpine]] division to develop a range of electric performance cars sharing some of their future platforms.<ref>{{cite web | url = https://www.autoblog.com/2021/01/14/alpine-lotus-electric-sports-car/| title = Alpine joins forces with Lotus to develop an electric sports car | access-date=January 23, 2021 | work=Autoblog |date=Jan 14, 2021 |first=Ronan |last=Glon }}</ref> In April 2021, Lotus announced plans to produce only electric cars by 2028 and increase production numbers from around 1,500 per annum to tens of thousands. Geely and Etika Automotive provided two billion pounds (US$2.8 billion) to fund the changes.<ref name="electric">{{cite news |last=Carey |first=Nick |date=April 27, 2021 |title=British sports carmaker Lotus aims to expand, go all-electric by 2028 |url=https://uk.news.yahoo.com/british-sports-carmaker-lotus-aims-111657140.html |website=Yahoo News |agency=Reuters |location=London |access-date=April 27, 2021}}</ref>

Lotus Technology, the electric-vehicle division of Lotus, which has a different ownership structure (30% by Etika and the rest by Geely and Nio Capital), was listed on [[Nasdaq]] in February 2024, following the completion of a merger with a [[special-purpose acquisition company]] affiliated with [[L Catterton]].<ref>{{Cite web |title=Lotus Technology Celebrates Public Listing on Nasdaq
 |url=https://ir.group-lotus.com/news-releases/news-release-details/lotus-technology-celebrates-public-listing-nasdaq |access-date=2024-08-27 |website=ir.group-lotus.com}}</ref> After the listing, 10.3% of shares are held by the public.<ref>{{cite news | url=https://www.theguardian.com/business/2023/jan/31/chinese-owner-of-lotus-technology-to-list-a-stake-in-us-via-blank-cheque-firm | title=Chinese owner of Lotus Technology to list a stake in US via blank cheque firm | newspaper=The Guardian | date=31 January 2023 | last1=Lawson | first1=Alex }}</ref>