It’s been a tumultuous few months for British automaker Lotus. Ex-CEO Dany Bahar officially got the axe, and then swift changes were made by new owners DRB-Hicom.
There might not be a bright light at the end of the tunnel either. The British automaker has pulled out of the 2012 Paris Motor Show, after being the star at the last one. Its advisory board was axed, and an announcement came that a more realistic model lineup would be on the horizon. Oh yeah, and then there’s Bahar, suing his former employer for $10.6 million.
That may just be the tip of the iceberg however, as reports are coming in that all current and future projects are either significantly delayed, or cancelled altogether. Suppliers are having trouble being paid on time; in fact, some are threatening to sue for non-payment. In attempts to stabilize its cash flow, the automaker has begun deferring payments and building up debt in these troubling times.
Of course we hope that Lotus finds a way out of these tough times and goes back to doing what it does bests: building great sports cars. DRB-Hicom does appear to plan on announcing its plan for Lotus in the near future. For now, it’s just a quiet waiting game.
[Source: Top Gear]