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Lotus & GE

Started by jonnoj , Jun 14 2011 20:38

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36 replies to this topic

#1 jonnoj

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Posted 14 June 2011 - 20:38

Team Lotus secures GE backing

Will this extra dosh help push Lotus further up the grid, or keep them just above water?

#2 billm99uk

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Posted 14 June 2011 - 21:41

Team Lotus secures GE backing

Will this extra dosh help push Lotus further up the grid, or keep them just above water?

Well considering the amount of $$$ Obama has given to his mate Geoffrey in the past few years I guess F1 really is being subsidised by the US taxpayer now. Maybe they should change the name to USF1 Mk.II

#3 Crafty

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Posted 14 June 2011 - 21:43

Well considering the amount of $$$ Obama has given to his mate Geoffrey in the past few years I guess F1 really is being subsidised by the US taxpayer now. Maybe they should change the name to USF1 Mk.II

And let me guess GE don't pay taxes either right :rolleyes:

And its Jeff, not Geoffrey.

#4 pingu666

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Posted 14 June 2011 - 21:54

curious, they used to have a involvement with highcroft racing last year or two, maybe still do

#5 Andy865

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Posted 14 June 2011 - 22:56

KERS?

#6 BRG

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Posted 15 June 2011 - 10:50

So how much is it worth? Will it become Team GE- Lotus- Renault? Any change in livery?

#7 Owen

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Posted 15 June 2011 - 11:17

Will Air Asia only buy planes with GE engines in them now then?

#8 Minardigp

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Posted 15 June 2011 - 15:21

I'm sure this had nothing to do with it...

Air Asia just bought some GE engines...
http://biz.thestar.c...p;if_height=609

As well as a major engine contract for AirAsia up for grabs with GE bidding

http://ca.reuters.co...E75D4N420110614

#9 highdownforce

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Posted 15 June 2011 - 16:25

So how much is it worth? Will it become Team GE- Lotus- Renault? Any change in livery?

Saward suggests it can be a deal of $30 Millions per year for three years.
http://joesaward.wor...m-lotus-and-ge/

Edited by highdownforce, 15 June 2011 - 16:26.

#10 Crafty

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Posted 15 June 2011 - 17:01

I'm sure this had nothing to do with it...

Air Asia just bought some GE engines...
http://biz.thestar.c...p;if_height=609

As well as a major engine contract for AirAsia up for grabs with GE bidding
http://ca.reuters.co...E75D4N420110614

Chicken feed - it could be in to 10s of billions.

I didn't even think of the composites side of things, but yeah GE can definitely help with that. In fact they have done it previously - GE Aviation took over a company called Smiths Aviation around 4/5 years ago. At the time smiths had a contract with McLaren for the Mercedes SLR cars and Koenigsegg for their cars, so applying their composite knowledge to cars is not an unknown. They might even still have the Koenigsegg contract.

If you look you'll also find information about regenerative systems on GE locomotives.

Potentially GE could also help with data analysis

#11 David M. Kane

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Posted 15 June 2011 - 17:31

Sounds like a legal kickback to me...smart move by both sides. I think Tony and GE brokered a good deal. :kiss:

#12 One

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Posted 15 June 2011 - 20:30

Good way to go forward. Another good move from Tony.

#13 peacockantony

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Posted 15 June 2011 - 20:34

So how much is it worth? Will it become Team GE- Lotus- Renault? Any change in livery?

I don't think GE will be included in the team title as they were announced a Premium Partner, not a title sponsor.

#14 onewingedangel

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Posted 15 June 2011 - 21:03

Wonder where the logo's will go on the car - I assume the sidepods (where EQ8 is at the moment) is reserved for a possible title sponsor - airbox cover possibly?

#15 Anssi

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Posted 15 June 2011 - 21:34

The Team is moving forwards and it's great to see that. There is actually some good businessman managing the business side of it!

These sort of deals may mean that the drivers and other key personnel may stick around longer.

But I will be disappointed if this team isn't scoring points next season. If they'd still only have the other new teams behind them that wouldn't be funny at all.

#16 primer

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Posted 15 June 2011 - 21:34

I wonder how much GE are paying for sponsorship. Considering there must be opportunities at Sauber, Williams and others, 1Malaysia would have been particularly cheap.

Edited by primer, 15 June 2011 - 21:35.

#17 mechadaniel

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Posted 15 June 2011 - 21:46

Wonder where the logo's will go on the car - I assume the sidepods (where EQ8 is at the moment) is reserved for a possible title sponsor - airbox cover possibly?

This is probably a clue:

http://twitpic.com/5blns6

And Naza get relegated

#18 mechadaniel

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Posted 15 June 2011 - 21:52

I wonder how much GE are paying for sponsorship. Considering there must be opportunities at Sauber, Williams and others, 1Malaysia would have been particularly cheap.

Get today's prize for missing the point entirely :rotfl:

And it's not because, as Tony Fernandes retweeted a few days ago, the cars are so slow TV viewers get a good look at the sponsors

"Sauber, Williams and others" do not also own an airline that spends billions on aero engines. It's a sweet deal for both sides.

#19 weston

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Posted 15 June 2011 - 21:58

I wonder how much GE are paying for sponsorship. Considering there must be opportunities at Sauber, Williams and others, 1Malaysia would have been particularly cheap.

It's said to be around $30m/year. I don't call it particularly cheap.

AirAsia placed a big aircraft engine order in the value of $600 millions and they signed letters of intent for further deliveries in the billion dollar range this week. Sauber or Williams can't offer such a deal.

Edited by weston, 15 June 2011 - 22:06.

#20 primer

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Posted 15 June 2011 - 22:12

So are GE actually paying any cash at all? Or did they just give AirAsia a concession on list prices (or maintenance packages) and fat Tony went to town celebrating this new 'conquest'?

#21 weston

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Posted 15 June 2011 - 22:15

So are GE actually paying any cash at all? Or did they just give AirAsia a concession on list prices (or maintenance packages) and fat Tony went to town celebrating this new 'conquest'?

You do hate him, don't you? :wave:

#22 Henrik B

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Posted 15 June 2011 - 22:24

AirAisa presumably needs engines anyway, but I don't think every engine supplier would have stepped in as sponsors to get that contract. It is probably mutually beneficial - or like this,I don't think AirAsia could have gotten a $90m rebate without having a F1 team to include in the deal.

#23 mechadaniel

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Posted 15 June 2011 - 22:44

AirAisa presumably needs engines anyway, but I don't think every engine supplier would have stepped in as sponsors to get that contract. It is probably mutually beneficial - or like this,I don't think AirAsia could have gotten a $90m rebate without having a F1 team to include in the deal.

I don't see why this is so difficult to understand...

Until recently AirAsia has spent billions on Rolls Royce engines. Now they are buying GE engines, oh and at the same time GE have become TL sponsors.

But it doesn't stop there - for Caterham to grow as planned they need access to people with large scale composite manufacturing experience and hybrid engine development.

They have got that now.

#24 Henrik B

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Posted 16 June 2011 - 08:45

I don't see why this is so difficult to understand...

I really have no clue what in my post you objected to.

#25 mechadaniel

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Posted 16 June 2011 - 16:16

I really have no clue what in my post you objected to.

Sorry - the fundamental point is that AirAsia aren't getting a "$90m rebate", TL is getting $90m(reputedly).

#26 David M. Kane

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Posted 16 June 2011 - 18:34

Savvy business move :up:

#27 MaxisOne

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Posted 16 June 2011 - 19:04

Savvy business move

Indeed...

Let the haters hate ... this is a damn good move. This guy seriously knows how to put good deals together ... Hats off to him

#28 Apollonius

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Posted 16 June 2011 - 19:32

It's a hell of a deal. GE is one of the top ten grossing conglomerates in the world, any team on the grid would have bitten GE's hand off to secure that deal - there will be some very envious teams out there.
Full credit to Fernandes for pulling this one off, it could propel TL up a level.

#29 DoodoolTalla

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Posted 16 June 2011 - 21:00

http://motorsport.ne...extgen-Auto.com

lotus will use GE kers from next year.

#30 saudoso

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Posted 16 June 2011 - 21:05

Will Air Asia only buy planes with GE engines in them now then?

This ^^^^

#31 mechadaniel

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Posted 16 June 2011 - 21:08

http://motorsport.ne...extgen-Auto.com

lotus will use GE kers from next year.

Here is the original announcement/interview:

http://edition.cnn.c...andes.lotus.cnn

Not too sure about that, I'd rather they use a system with a years development - with a bit of luck RB will have the kinks out of their system by the end of the year

#32 Henrik B

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Posted 16 June 2011 - 21:11

Sorry - the fundamental point is that AirAsia aren't getting a "$90m rebate", TL is getting $90m(reputedly).

The point I was trying to make (in perhaps too few words) was that any other manufacturer could have given AirAisia 90m rebate on engines. That would free up 90m that AirAisa could use to increase sponsorship in TL, if they so wished. That the other manufacturers didn't, and that GE offered the sponsorship, points to GE not JUST doing this for the engine deal, that they were not adverse to the idea. I think it is a given that the other engine manufacturers had a chance to do this deal aswell. Essentially, it was a answer to primer.

#33 mechadaniel

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Posted 16 June 2011 - 21:41

The point I was trying to make (in perhaps too few words) was that any other manufacturer could have given AirAisia 90m rebate on engines. That would free up 90m that AirAisa could use to increase sponsorship in TL, if they so wished.

But that's not how it works, if AirAsia decided to put $90m into TL, the AirAsia shareholders would be somewhat bemused

So instead TF starts taking calls from GE Aero sales people, is out of the country when RR call, and TL mysteriously gets a new sponsor.

I think it is a given that the other engine manufacturers had a chance to do this deal aswell.

Hmm, it is not really my area, but as far as I understand it, there are only two games in town, GE and RR. And I'm not too sure that Rolls could sponsor TL, if the fake Lotus is being sponsored by the fake Rolls Royce this board would crash in a troll frenzy :lol:

#34 tifosi

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Posted 16 June 2011 - 22:28

As a GE shareholder, will this get me into the owners's box????

#35 peacockantony

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Posted 17 June 2011 - 13:39

I wonder how much GE are paying for sponsorship. Considering there must be opportunities at Sauber, Williams and others, 1Malaysia would have been particularly cheap.

The bolded part, you not calling them by the team name but by the name of the holding company pretty much cums up your opinion of the team. If you have nothing good to say. Go worship the Renault team trying to be Lotus through a sponsorship deal.

This is probably a clue:

http://twitpic.com/5blns6

And Naza get relegated

Could just be that the RWEP is the only part of the car that they can easily transport. I still say that the GE logos will be on the engine covers

Hmm, it is not really my area, but as far as I understand it, there are only two games in town, GE and RR. And I'm not too sure that Rolls could sponsor TL, if the fake Lotus is being sponsored by the fake Rolls Royce this board would crash in a troll frenzy

That really would put some more fuel on the fire, given that there is no fake Lotus and no fake Rolls-Royce. They are both companies that were split to do separate things using the same name.

#36 saudoso

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Posted 17 June 2011 - 17:33

A new 200 planes order with GE providing the turbo fans, that's incentive enough for the deal http://t.co/tMmHjm1

#37 Crafty

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Posted 20 June 2011 - 18:58

Hmm, it is not really my area, but as far as I understand it, there are only two games in town, GE and RR. And I'm not too sure that Rolls could sponsor TL, if the fake Lotus is being sponsored by the fake Rolls Royce this board would crash in a troll frenzy

Umm ever heard of Pratt & Whitney ?
They are probably just as big competition as RR

Don't read too much into these deals - yes they are big but they aren't exactly unusual, GE have a big deal with COMAC thats going to run and run and this was announced today too : http://finance.yahoo...s...ml?x=0&.v=1

Edited by Crafty, 20 June 2011 - 19:00.