Lotus Engineering Gets More Investment
Lotus Engineering and Mubadala Development Company (Mubadala) are pleased to announce the signing of a long-term Memorandum of Understanding (MoU). The joint aim is to further enhance Abu Dhabi’s position at the forefront of environmentally orientated technologies and accelerate the development of its manufacturing and business infrastructure.
The agreement outlines the basis for a strategic relationship to discuss development in advanced technological disciplines. Activities will be focussed on reducing ‘well to wheel’ CO2 emissions through the use of advanced lightweight materials and hybrid technologies, thus supporting Abu Dhabi’s low carbon footprint philosophy and addressing the environmental imperatives facing the automotive industry globally.
Potential investments in the future of the worldwide automotive and associated industries can harness Abu Dhabi’s abundant natural resources and further support the achievement of Mubadala’s key strategic objective of diversifying and developing the rapidly growing economy of Abu Dhabi.
Located in the capital of the United Arab Emirates (UAE), Mubadala Development Company (Mubadala) is an investment firm that is helping to diversify Abu Dhabi’s economy through capital intensive investments and by building businesses.
Mubadala’s mandate is the establishment of new companies and the acquisition of strategic holdings in existing companies, either in the UAE or abroad. Mubadala focuses on generating sustainable economic benefits through a careful selection of business ventures – in partnership with local, regional and international investors. Mubadala invests in a wide range of strategic sectors including energy, utilities, real estate, public-private partnerships, basic industries and services so as to diversify and further develop the rapidly growing economy of Abu Dhabi, while achieving superior returns on its investments.
At the same time, Mubadala constantly benchmarks its activities and methods to the best-in-class, striving to develop its management team to its full potential and adding fresh and promising talent wherever possible.
Lotus Engineering provides comprehensive and versatile consultancy services to many of the world’s OEMs and Tier 1 suppliers, offering a full engineering service from initial concept and project design through development and integration of the complete vehicle to meet all worldwide markets and customers to full production. This includes third party ‘niche vehicle’ engineering and
manufacture worldwide.
Editor’s Note: Is the Mubadala investment of related to their investment in the Middle Eastern energy market, or are they harnessing the vehicle development expertise for something of their own device? Comments? See below.