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Lotus says it's hiring 200 new engineers in effort to expand

Lotus is making moves to rise back up in the automotive world. A report from The Telegraph says the British company will hire 200 new engineers. This batch of hiring comes from the pockets of new Chinese owner Geely. The plans also include the opening of a new engineering center in the U.K. away from its longtime home in Norfolk. Lotus CEO, Phip Popham said this about the new moves. "Lotus has been in survival mode for many years. We're taking on people here and also in the Midlands. We need to tap into the industrial resource outside Norfolk to help our growth," Popham said. These new hires are all part of a multi-billion dollar investment into Lotus from Geely to try and turn the company around. Ultimately, Lotus wants to triple its current production all the way up to 5,000 cars per year. One of the initiatives from this investment is an all-electric hypercar we saw teased not too long ago. Popham also spoke of making cars with a slightly different focus than the Lotus we know of today. "A car not just for the weekend, but one you can live with," Popham says. Ideas of a Lotus SUV or grand tourer have bounced around in the recent past, and those still appear to be in the company's plans. The British brand plans on tapping Geely for many items it doesn't already have, according to the report. These include modern items like digital display screens and parts required for electrification of its vehicles. A new platform meant to house these "livable" Lotus cars is said to be in the works.

Renault will buy back Lotus F1 Team

Renault's relationship with Red Bull may be about to crumble, but the French automaker isn't calling it quits on Formula One altogether. Instead, Renault will cease being an engine supplier and instead acquire Lotus F1 to become a full-fledged manufacturer and team owner again. The long-anticipated deal will see Renault re-acquire the team currently known as Lotus F1 from present owner Genii Capital, an investment fund. Renault owned the team outright before selling it to Genii back in 2009. This move will see the Enstone outfit move back under Renault's roof – and hopefully get more resources than Genii could muster. Renault recently had to come to the team's rescue after an outstanding tax bill threatened to send it into bankruptcy. The deal will likely mean the end of the Lotus name in F1 once again, after the rights were hotly contested between this team and the now-departed Caterham outfit. The Enstone-based outfit will become Renault's principal team, just as Mercedes and Ferrari run their own teams and also supply engines to others. Over its various eras of ownership, the team has shown that it has what it takes to win, given the right drivers and resources. The question is whether Renault can get its engines up to speed again to catch up to its rivals. The partnership between Daimler and the Renault Nissan Alliance created speculation that the two could strike a deal in F1 as well that could see Renault running Mercedes engines in the future - just like the Lotus team currently does. F1 : SIGNATURE OF A LETTER OF INTENT BETWEEN RENAULT GROUP AND GRAVITY MOTORSPORTS S.A.R.L Renault Group and Gravity Motorsports S.a.r.l., an affiliate of Genii Capital SA, are pleased to announce the signature of a Letter of Intent regarding the potential acquisition by Renault of a controlling stake in Lotus F1 Team Ltd. The signature of this Letter of Intent marks Renault's first step towards the project of a Renault Formula 1 team from the 2016 racing season thereby extending 38 years of commitment of the brand to world's premier motorsport championship series. Renault Group and Gravity will work together in the coming weeks to eventually turn this initial undertaking into a definitive transaction provided all terms and conditions are met between them and other interested parties. Related Video: Featured Gallery Lotus Renault GP 2011 livery News Source: Renault Earnings/Financials Motorsports Lotus Renault F1 genii capital

Watch Lotus F1 team careen through a mall in Renault Twizy EVs

The Lotus Formula One Team is sticking with drivers Romain Grosjean and Pastor Maldonado next year, but it's dropping Renault as an engine supplier in favor of Mercedes power. The 2014 F1 season is barely over, though, and that mean's there still a little time left to put those marketing dollars to work, while still having a little fun, too. To that, Renault has put Grosjean and Maldonado behind the wheel of two Twizy electric cars and unleashed them on The Dubai Mall for an ad for the little buggies. The place is one of the world's largest shopping centers, and it also houses an aquarium, an ice skating rink and even a dinosaur. It's a big place, and unsurprisingly, the two F1 pilots drift the little buggies with ease around every part of the complex. Grosjean even gets some time on the ice. Check out the ad for the quirky EV in the video above. Related Gallery Paris 2010: Renault Twizy View 15 Photos News Source: Renault Middle East via YouTubeImage Credit: Related images copyright 2014 Drew Phillips / AOL Marketing/Advertising Motorsports Lotus Renault Coupe Electric Videos renault twizy Romain Grosjean lotus f1 team pastor maldonado