Lotus published a rant yesterday, through its CEO, Dany Bahar. Apparently, some journalists together with Caterham representatives have been spreading false rumors about Lotus. Lotus' official press release starts by mentioning that Dany Bahar is still the CEO of Group Lotus and that Dato' Sri Syed continues to be the Managing Director of Proton. Lotus continues with a joke saying that Mike Gascoyne, Caterham Group’s Chief Technical Officer has gone missing, because he is looking for the points his team predicted for the 2011 Formula 1 season.
Another important point made by Lotus is that they will continue their involvement in Formula 1, even though the governance agreement has been changed.
Group Lotus owners Proton offered a £30m loan to Genii, who are the team owners, repayable within three years. Genii offered 100% of the F1 team's assets as collateral. Proton also has the right to purchase 10% of the team.
Even though Proton is the process of being taken over by DRB-HICOM, Lotus' five-year plan of expanding its business is still in effect.
