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Lotus to receive $16M government grant
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MummyChunk
Jan 10, 2014, 4:57:02 AM1/10/14
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From ESPN
MULTI-MILLION POUND BOOST FOR LOTUS
Monday, November 25, 2013 - 12:30
Lotus has secured a ￜ10 million government grant which will see the
firm create more than 300 new jobs.
The Regional Growth Fund (RGF) has awarded Lotus ￜ10.44 million, which
will be used for research and development of products, along with
staff training. In addition Lotus is expected to create 313 new full
time jobs to support production over the coming years.
Business Secretary, Vince Cable MP visited Lotus' Norfolk headquarters
today, 25 November 2013, where he toured the engineering and factory
facilities and formally announced the grant to Lotus management.
The grant is a further boost for Lotus, following a ￜ100 million
investment by its owners DRB-HICOM which has allowed the company to
enhance its engineering, productivity, efficiency and quality. Lotus
is also recruiting for more than 130 new jobs, previously announced in
July 2013.
The Regional Growth Fund (RGF) is a flexible and competitive ￜ3.2
billion fund operating across England from 2011 to 2017. It supports
projects that are using private sector investment to create economic
growth and sustainable employment.
Aslam Farikullah, Chief Operating Officer at Lotus, said: "This
grant is part of a wider strategy for Lotus created to ensure we
thrive and grow. We are responding to increased global demand for our
cars and engineering consultancy services and this grant will help to
position Lotus at the forefront of global automotive innovation.
"We have very exciting plans for our sports cars and it's a very
positive move for Lotus that we're in a position to create new jobs
and to significantly contribute to Britain's automotive industry.
"The team here at Lotus have worked very hard to secure this
grant and every employee is playing their part in the stability,
growth and future success of our company."
Business Secretary Vince Cable said: "Lotus is an iconic British
car maker, with some of the most innovative engineers in the business.
The car industry is one of Britain's great success stories, employing
over 130,000 people and helping to build a stronger economy by
contributing ￜ11 billion a year. The Government's industrial strategy
is working and giving business the confidence to invest, creating more
high skilled, long term jobs in the UK"
"I am pleased to announce today that our flagship economic plan
to create jobs outside of London - the regional growth fund - is
awarding Lotus a ￜ10 million grant which will help them develop their
next generation of cars and create over 300 new jobs in East Anglia.
The Government has already supported over 400 projects with ￜ2.6
billion from the Regional Growth Fund, promoting growth in regions
across England. The latest round is still open for another two weeks
and I'd urge all businesses with a plan to support jobs in their local
areas to apply"
MULTI-MILLION POUND BOOST FOR LOTUS
Monday, November 25, 2013 - 12:30
Lotus has secured a ￜ10 million government grant which will see the
firm create more than 300 new jobs.
The Regional Growth Fund (RGF) has awarded Lotus ￜ10.44 million, which
will be used for research and development of products, along with
staff training. In addition Lotus is expected to create 313 new full
time jobs to support production over the coming years.
Business Secretary, Vince Cable MP visited Lotus' Norfolk headquarters
today, 25 November 2013, where he toured the engineering and factory
facilities and formally announced the grant to Lotus management.
The grant is a further boost for Lotus, following a ￜ100 million
investment by its owners DRB-HICOM which has allowed the company to
enhance its engineering, productivity, efficiency and quality. Lotus
is also recruiting for more than 130 new jobs, previously announced in
July 2013.
The Regional Growth Fund (RGF) is a flexible and competitive ￜ3.2
billion fund operating across England from 2011 to 2017. It supports
projects that are using private sector investment to create economic
growth and sustainable employment.
Aslam Farikullah, Chief Operating Officer at Lotus, said: "This
grant is part of a wider strategy for Lotus created to ensure we
thrive and grow. We are responding to increased global demand for our
cars and engineering consultancy services and this grant will help to
position Lotus at the forefront of global automotive innovation.
"We have very exciting plans for our sports cars and it's a very
positive move for Lotus that we're in a position to create new jobs
and to significantly contribute to Britain's automotive industry.
"The team here at Lotus have worked very hard to secure this
grant and every employee is playing their part in the stability,
growth and future success of our company."
Business Secretary Vince Cable said: "Lotus is an iconic British
car maker, with some of the most innovative engineers in the business.
The car industry is one of Britain's great success stories, employing
over 130,000 people and helping to build a stronger economy by
contributing ￜ11 billion a year. The Government's industrial strategy
is working and giving business the confidence to invest, creating more
high skilled, long term jobs in the UK"
"I am pleased to announce today that our flagship economic plan
to create jobs outside of London - the regional growth fund - is
awarding Lotus a ￜ10 million grant which will help them develop their
next generation of cars and create over 300 new jobs in East Anglia.
The Government has already supported over 400 projects with ￜ2.6
billion from the Regional Growth Fund, promoting growth in regions
across England. The latest round is still open for another two weeks
and I'd urge all businesses with a plan to support jobs in their local
areas to apply"
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