Group Lotus

Elizabeth Truss Excerpts

Tuesday 24th April 2012 Commons Chamber

[Mr Bacon]

I can confirm that. I will talk later about the Tesla, which is a great example of the leading-edge technology that makes Lotus very interesting to a wide variety of potential financiers.

In common with many businesses since the beginning of the worldwide financial crunch, things have been more difficult, but many observers believe that Lotus continues to have a bright future and tremendous potential, particularly given the company’s expertise in areas such as those that my hon. Friend the Member for Great Yarmouth (Brandon Lewis) mentioned, including electric and hybrid vehicles. These skills make Lotus a very sought-after partner for car companies across the world.

[Elizabeth Truss (South West Norfolk) (Con)]

Does my hon. Friend agree that engineering skills are vital for Norfolk and that the creation of the proposed maths and science free school for 16 to 18-year-olds will be important to the development of those skills and to Lotus and other engineering companies across the county?

[Mr Bacon]

I agree that the so-called STEM subjects—science, technology, engineering and maths—are vital to firms such as Lotus, and I am keen to see those developed through the proposal for a school specialising in them.

It is important to note that although Lotus’s contribution to the history of technology and innovation is already imperishable, it has not stopped. In this Olympic year, it is worth pointing out that Chris Boardman won the 4,000 metre pursuit gold medal at the Barcelona Olympics riding a revolutionary lightweight and aerodynamic carbon composite monocoque bicycle developed by Lotus. He also rode the Lotus “superbike” to smash the world 5,000 metre pursuit record by more than 8 seconds.

Tesla Motors, which my hon. Friend the Member for Great Yarmouth mentioned, is a business based in California whose investors included, among others, the owners of Google. It asked Lotus to develop a fully electric car, and the Tesla roadster was built in Norfolk and then exported to California with extraordinary success.