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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

Lotus suing former CEO Bahar over spending on homes, helicopters and watches

More details have come out about the legal suit and countersuit being contested between Lotus cars owner DRB-Hicom and former CEO of Lotus Dany Bahar. Bahar was brought in by Malaysian car company Proton in 2009 to turn Lotus around, and events during his tenure have made just about everyone wonder "What's going on?" That's not unusual - it can take a minute to figure things out when a new leader takes everything in a new direction - but in this case the clouds didn't clear quickly enough.
When the Malaysian government sold Proton to Malaysian auto supplier DRB-Hicom earlier this year, a forensic accounting team from Ernst & Young and The Rothschild Group started going over the books. Not long after, Bahar was suspended in June from his position and then fired. In his countersuit against DRB-Hicom, claims of lavish spending began to surface. Then the stories and leaks and rumors really began, the UK's Financial Mail reporting on more than one million pounds spent on private flights and home renovations, the New Zealand Herald talking about other executives sacked so that DRB could rearrange a 270-million-pound bank loan to Lotus, and rumors on forums about Bahar flying from his home in Norfolk to Hethel HQ and spending 30,000 pounds on motorsports books for his office.
In the latest Bloomberg report it is said that DRB-Hicom seeks 2.5 million pounds ($4 million US) from Bahar "for unauthorized expenses and overpaid salary and bonuses," including the purported expense of 3,000 pounds on watches for company managers. DRB-Hicom also says Bahar made damaging statements to the media, on top of breaching his contractual duties. Bahar's countersuit seeks $10.6 million from DRB-Hicom.

Lotus sells loads more cars, earns way more money

Sports-car company Lotus has reason to be excited. It released some facts on its sales and financial performance for the 2016 and 2017 fiscal year, and it has seen some impressive improvements. According to the company, it sold nearly 60 percent more cars in mainland Europe compared with the 2015/2016 fiscal year, and it sold six times as many cars in the U.S. compared with that year. This helped it go from a loss of GBP16.3 million for the previous year in earnings before interest, taxes, depreciation and amortization (EBITDA) to a GBP2 million profit EBITDA. The fact that those numbers are given before all those extra expenses is noteworthy, though, as it means the company isn't truly profitable yet, despite major gains. The company did report numbers that only excluded tax, and those show the company still lost money. But the good news is that it lost much, much less money than the year before. Before taxes for the 2015/2016 fiscal year, the company lost GBP41.2 million, and this year, it only lost GBP11.2 million. The company expects it will be profitable before tax in the coming year. So Lotus isn't perfectly healthy yet, but this, combined with Geely's recent acquisition, shows it's well on its way to becoming fit as a fiddle. We like the cars Lotus makes, so we hope that things keep getting better, and that we'll maybe get more Lotus models in the future, beyond just the Evora road car and 3-Eleven track car. Related Video: Featured Gallery 2017 Lotus Evora 400: First Drive View 29 Photos Image Credit: Lotus Earnings/Financials Lotus Coupe Lightweight Vehicles Performance