Lotus has managed fairly well with a similar arrangement.
Except that Lotus has since it's sale always been owned by other large automotive companies (apart from the 3 years from 93 to 96 that the company belonged to Romano Artioli, the then owner of Bugatti). GM & Toyota, Proton, now Geely.
Lotus has lost substantial amounts of money for all of them, but presumably they have been able to justify this from what they have gained in technological know-how and the kudos of having a sexy brand as the flagship of their portfolio. Vulture capitalists will not be so indulgent; a company that fails to make them money will be disposed of.
