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Lotus' new position: Much improved, if Volvo's experience is a guide

Out today is the news that Geely Holding will acquire controlling interest in British sports car maker Lotus Cars. While some 20 years ago the Chinese acquisition of a British automaker might have inspired grumbling from aggrieved Brits (and the handful of Lotus enthusiasts), the world has moved on. And so – thankfully – can Lotus. To suggest Lotus' business history has been checkered is to broaden the definition of "checkered." With its beginnings in the early '50s as a maker of component cars for competition, Lotus founder Colin Chapman – in a manner not unlike his postwar contemporary, Enzo Ferrari – was always hustling, living a hand-to-mouth existence in the production of road cars to support a racing program. Regrettably, Chapman never found a Fiat, as Ferrari did toward the end of the 1960s. Lotus had Ford in its corner for racing and as a resource for powertrains, and later benefited from the corporate support of both GM and Toyota for relatively short periods. Lotus Cars, however, never enjoyed the corporate buy-in that would have allowed Chapman to race and let someone else build the cars. Regardless of what Consumer Reports or Kelley Blue Book might have thought (if they had ...) about those early Lotus cars, a great many are now regarded as classics. My first knowledge of a production Lotus was when Tom McCahill, the 'dean' of automotive journalists in the US, tested an early Elan for Mechanix Illustrated. While we're still not sure, some 50 years later, how McCahill's XXL frame fit into the tiny roadster, he had nothing but praise for the Elan's athletic chassis and now-timeless design. In today's Lotus portfolio, the Elise and Exige continue that light, athletic tradition, while the larger Evora seems to strike wide – literally and figuratively – of the "less is more" ideal. With the Toyota-powered Evora, more is more. But in an eco-sensitive era demanding more of the original Chapman mantra – add lightness – there's little reason that Lotus can't regain relevance if given the financial resources. Geely's acquisition of Volvo, the fruits of which appear regularly not only in the news but on the streets, suggests the Chinese investment will provide strategic vision (along with money) while allowing Lotus talent to do what it does best: Create an exciting product. And while at various periods in its history the product has been worthy, Lotus in the US has been ill-served by a flailing dealer network.

Volvo bringing Chinese-built cars to America beginning next year

Just because the penetration of the American automotive market by Chinese brands hasn't quite happened yet doesn't mean that Chinese-built cars are far off. According to a new report, we could very soon see long-wheelbase Volvo S60s that were assembled in the People's Republic arriving on US shores.
The report comes from Automotive News China, which cites an anonymous Volvo exec. An official Volvo spokesperson later corroborated ANC's report, although where the original source claimed that we could see the Chinese-built S60L in US dealers at some point in 2015, the company line was that a timeline hadn't been established to begin exports from the world's most populous nation.
According to Volvo, the benefit to exporting from China to the United States rather than from Sweden is the relationship between the US dollar and the Chinese yuan. Overall, it's a less tumultuous issue than the dollar-to-euro situation. By moving vehicles from China to the US, the Chinese-owned company is limiting the degree of risk it's taking with sudden currency swings.

Tony Nicolosi named CEO of Volvo Cars North America

Volvo announced today that it has named Tony Nicolosi, president and CEO of Volvo Car Financial Services VCFS), as the new CEO of Volvo Cars of North America (VCNA). Nicolosi replaces John Maloney, who chose to leave due to family obligations after Volvo offered him a position in Europe.
Volvo says Nicolosi will remain president and CEO of VCFS while he assumes VCNA's top position. The Swedish automaker also says a "permanent successor [to Maloney] as President and CEO will be the subject of a later announcement."
The move comes as part of a management shakeup that's part of a "larger transformation taking place at Volvo," the automaker says.