Geely

With the backing of Chinese automaker Geely, Lotus is no longer happy to tread water. Instead, it has aggressive expansion plans. Phil Popham, CEO of Lotus Cars, has confirmed details about the company's ambitious plan with The Telegraph. The automaker will hire around 200 engineers to help it triple sales to 5000 vehicles per year. In addition to this, the company will also open a new engineering centre in the UK Midlands, the company's first facility outside its Norfolk headquarters.

Three sources have told The Financial Times Daimler, owner of Mercedes-Benz, is close to selling a 50 per cent stake in the Smart brand to Chinese automaker Geely. A deal could be announced as soon as the Shanghai motor show, which takes place in the middle of April. If the sale goes ahead, it would fit both Smart's future vision for itself and Geely's acquisitive streak.

Geely Design UK, which Burgess is set to lead, will be based in Coventry, and will have around 100 designers and support staff within five years. The Coventry-based facility will work on the Geely, Lynk & Co, Proton and Lotus brands, as well as providing support for the London Electric Vehicle Company (LEVC), which makes the city's iconic black taxi cabs.

Daimler, parent company of Mercedes-Benz and Smart, is reportedly considering starting a 50-50 joint-venture ride-hailing service with Chinese carmaker Geely. Sources have told Bloomberg the ride-hailing system would be for the Chinese market. Daimler is reportedly considering using vehicles from its Denza electric car brand, which itself is a joint venture with BYD and produces EVs based on the first-generation B-Class.

Geely is reportedly considering authorising £1.5 billion ($2.7 billion) to revitalise British sports car maker Lotus. Sources have told Bloomberg the plan under investigation includes hiring an additional 200 engineers, and building a second UK factory, probably in the West Midlands.