2005 Lotus Elise In Silver on 2040-cars

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The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.

The time Elon Musk paid $1 million for James Bond submarine car that cost a couple $100

Tesla CEO Elon Musk landed himself in court after insulting a diver who criticized his plan to rescue a Thai soccer trapped in a cave using a purpose-built mini submarine. Which reminded us that Musk's interest in submarines started years ago. The story begins in 1989, when a couple from Long Island put every barn-find hunter to shame by paying $100 for a locked storage unit, and cracking it open to find a 1976 Lotus Esprit buried under a pile of blankets. That's a cool find, the S1 Esprit is sought-after among enthusiasts, but CNBC reported they quickly learned their car was modified to star in the 1977 James Bond film "The Spy Who Loved Me." Ignoring Colin Chapman's "light is right" motto, the producers alchemized the Lotus into a fully functional submarine by welding in the wheel arches and the underbody, and adding winglets for more stability. Four propellers powered by a battery pack housed in the cabin moved the Esprit under water, and the coupe gained front-mounted missile launchers. The modifications reportedly cost $100,000. The couple had never seen a James Bond movie; they likely assumed it was a mad scientist's kit car, or a science fair project gone wrong. The $100 purchase price represents about $207 in 2019 dollars, so the unsuspecting buyers could have easily sold it as a parts car, made a small amount of money on it, and ended up with a free storage unit. However, they became aware of the Esprit's significance in Hollywood history when truckers identified it over CB radio while they were hauling it home. lotus-esprit-submarine-in-action-1 View 3 Photos They weren't collectors, and storing a submarine is terribly impractical, so they commissioned a cosmetic restoration and asked auction house RM Sotheby's to sell it in 2013. An enigmatic buyer paid $997,000 for the non-running movie prop. Musk later revealed himself as its new owner. "I was disappointed to learn that it can't actually transform. What I'm going to do is upgrade it with a Tesla electric powertrain, and try to make it transform for real," he announced. Even billionaire-owned project cars sit for longer than planned, and there's little evidence the Esprit is in swimming condition, let alone capable of morphing into a submarine at the simple push of a button. If it could, we're certain Musk would have hyped it up on Twitter. But while stalled projects normally draw the ire of loved ones as they take up garage space, Musk's turned into a well of inspiration.

Lotus reveals an even lighter version of the Elise Cup 250

For an automaker with very few resources, Lotus manages to keep things relatively fresh. The new Evora 400 is a blast to drive, even if it is just a heavily revised version of the car that debuted in 2009. The current Lotus Elise debuted back in 2010, and though it may have departed from our shores, Lotus keeps customers worldwide happy with a plethora of new variants. The latest model is the lightweight Lotus Elise Cup 250. Now, this isn't the same Elise Cup 250 that debuted last year, though the two cars are very, very similar. The main difference is weight, as is typical with a Lotus. Colin Chapman's tried and true saying, simplify and add lightness, is still true here. The new model weighs just 1,895 pounds, or 1,948 without the lightweight package. Last year's Elise Cup 250 was already quite svelte at 2,053 pounds. While you may think that shaving that much weight from an already light car must be the result of black magic or a localized black hole, the truth is far more simple. The Elise Cup 250 makes extensive use of carbon fiber, titanium, and aluminum for components like the bodywork, exhaust, and wheels. The rear window is plastic instead of glass, and the standard lead-acid battery is replaced with a lithium-ion battery. The rest of the car remains mostly unchanged. The car is propelled by a 243-horsepower supercharged 1.8-liter inline four. It can hit 60 mph in just 3.9 seconds, quicker than the more powerful Evora 400. There's plenty of aero to keep the car planted, but it's not a pure track car like the Exige. The Elise Cup 250 still comes with a full interior with a stereo, though there's no mention of cupholders. As exciting as all this may be, the Elise Cup 250 won't be coming to the US. Unfortunately, airbags and crash structures all add weight. For everyone else, the Elise Cup 250 is at dealers now. Related Video: Featured Gallery Lotus Elise Cup 250 News Source: Lotus Lotus Lightweight Vehicles Performance