Filed under: Lotus, Earnings/Financials, UK
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This didn’t take long. The new overlords at Lotus have reportedly scrapped the company’s five-year plan. [DRB-Hicom](http://www.autoblog.com/tag/drb hicom) ditched the turnaround strategy, penned by ousted [CEO Danny Bahar](http://www.autoblog.com/tag/danny bahar), because it believes the market viewed the plan as overly ambitious.
The new product plan will slim the number of new model lines from five to three, and Lotus will likely slash the number planned consultants in favor of relying more heavily on in-house talent. According to The Star, the move should help expedite product development and save cash at the same time.
Even so, nothing is written in stone as of yet. DRB-Hicom says the new plan will take up to a year to finalize. The company has dumped around $242 million into Lotus so far this year, and the struggling automaker may require another $121 million by 2013. Lotus all but stopped production earlier this year during a loan freeze, but the lights came back on in April. The company now produces around 44 vehicles per week.New Lotus owners ditch ambitious five-year plan originally appeared on Autoblog on Thu, 26 Jul 2012 10:13:00 EST. Please see our terms for use of feeds.
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