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Lotus Evora 400 shows the new face of progress [w/video]

Lotus may have scrapped all the grandiose plans of the preceding administration, but don't think for one minute that it's going to just sit on its finely honed laurels. No, the British automaker plans to revitalize its existing lineup, starting with the new Evora 400. Based on the company's existing 2+2 sports car, the new Evora 400 features a revised version of the Toyota-sourced 3.5-liter supercharged V6 that now produces 55 more horsepower than the Evora S for a titular total of 400 hp and 302 lb-ft of torque. With revised aero, bodywork, electronics, differential, gearbox and brakes, the new Evora 400 debuting here at the 2015 Geneva Motor Show will now run to 60 in 4.1 seconds, reach a top speed of 186 miles per hour and lap the company's famously grueling test track six seconds faster than the previous model. If that's what resting on laurels looks like, we'll be taking our next vacation in Hethel, England. Featured Gallery Lotus Evora 400: Geneva 2015 View 15 Photos Related Gallery Lotus Evora 400 View 9 Photos Image Credit: Live photos copyright 2015 Drew Phillips / AOL Geneva Motor Show Lotus Coupe Performance Videos 2015 Geneva Motor Show lotus evora 400

China's Geely buying majority stake in Lotus

Geely, the Hong Kong car company that owns Volvo, is acquiring control of British car company Lotus. Geely is purchasing a 51-percent stake in Lotus from struggling Malaysian car company Proton, and a 49.9 percent stake in Proton itself. Etika Automotive will gain the other 49 percent of Lotus. France's PSA Group and Japan's Suzuki had apparently also been interested in acquiring Proton. Geely says it plans to revive both Proton and Lotus. "The agreement lays the foundation for a wider framework for both Geely Holding, Proton and Lotus to explore joint synergies in areas such as research and development, manufacturing and market presence," Geely said in a news release. Those joint synergies will be highlighted by the lightweight chassis technology Lotus is known for, which could help Geely improve fuel efficiency. Geely CFO Daniel Donghui Li said the company aims to "unleash the full potential of Lotus Cars" by expanding and accelerating new products and technologies. Proton was nationally held but was privatized in 2007 to Malaysian conglomerate DRB-Hicom, which is owned by tycoon Syed Mokhtar Al-Bukhary. It was supposed to be the flagship for Malaysia's economic development.Though it owns two factories, Proton mainly rebadges foreign-made cars and sells them in Malaysia. What it has, what Geely presumably wants, is a distribution network in Southeast Asia to pit Chinese cars against Japanese automotive dominance in the region. Retaining a 50.1-percent stake in Proton is seen as a face-saving move. "Proton will always remain a national car and a source of pride, as Proton will still have a majority hold of 50.1 percent," Malaysian finance official Johari Abdul Ghani said. "Our very own much-loved brand now has a real chance in making a comeback, a huge one I hope." Related Video:

Lotus to layoff a quarter of its workforce

Lotus has issued a press release to day, wherein it indicates that a "need to both reshape its organisation and to reduce costs" may result in the loss of "up to 325" jobs. That's a fairly significant number of layoffs for any company, but considering that Lotus currently employs 1,215 people (per the company's bio in the same release), it could mean a full 25-percent of the automaker's workers could soon be sharpening their resumes.
CEO Jean-Marc Gales says in the statement that Lotus has "worked very hard to avoid the need to make this proposal," but admits that it is now "essential" to the future of the company. The chief indicates that post-restructuring, he expects Lotus to be a "leaner" and "more competitive" organization, one which - and we can all see a little silver lining here - is focused on "producing class-leading sports cars and innovative engineering."
The 325-job number appears to be soft at this point, with the statement indicating that some negotiation about which and how many posts will be cut is yet to come. Further, the company may "redeploy" some employees, and may even recruit new blood for "key roles," all with an eye toward running the strongest possible team going forward. Though, we imagine that the recruitment bit won't fly well for those employees getting the sack.