Lotus: Elise Base Convertible 2-door on 2040-cars

Auto blog

Lotus F1 team $186 million in debt

The Lotus F1 team has fallen on some hard times. Majority-owned by investment firm Genii Capital and having little to do with the British automaker with which it shares its name, the Enstone-based outfit has been widely reported to be in serious financial trouble. The extent of those difficulties were until now unknown, but a new report from Germany's Auto Motor und Sport reveals that the team is in the red to the tune of £114 million - equivalent to $186 million at today's conversion rates.
The lack in cashflow is widely believed to have been the impetus for Kimi Raikkonen's departure from the team in order to return to cash-rich Ferrari, and was one of the major factors in selecting Pastor Maldonado to replace him instead of a more proven and accomplished driver of Raikkonen's caliber. Maldonado brings with him major sponsorship funds from Venezuelan state oil company PDVSA. In speaking with the German publication, however, Lotus F1 chairman (and Genii co-founder) Gerald Lopez revealed that the lion's share of the team's debt - £80 million or $130 million - is with Genii Capital itself, a negative balance that isn't likely to affect the team's day to day. That leaves about $56 million which the team owes to outside parties, including Raikkonen, who has yet to receive the full pay he was contracted for.
The team has opted to sit out the first test session of the Formula One season at Jerez. Its 2014 chassis isn't ready and, given the relatively cold temperatures at this point in the year, the team wouldn't expect to learn much about tire performance and degradation. As far as the new engine goes, Lopez says that any knowledge gleaned by Red Bull, Toro Rosso and Caterham at the test session will ultimately be shared with Renault and through it back to Lotus as well. Lotus engineers helped develop the new KERS system with Renault regardless, so the team already has the energy-recovery data it needs. The team will instead prepare for the second test session in Bahrain, by which point it aims to have its new car ready to kick off the season. Lopez says that it has secured the funding to offset its costs for the season ahead, and that it is working to pay down its debt.

In hindsight, Musk wouldn't use Lotus for Tesla Roadster

The world will be a different place after Elon Musk builds a time traveling device (don't ask us how we know that will happen). For one thing, the Tesla Roadster of the rewritten future will not have been built using the chassis of the Lotus Elise. Also, verb tenses will be becoming even more confusing and, possibly, awkward. "We ended up changing most of the damn car" – Elon Musk We know about the not-using-the-Lotus thing because the Tesla Motors CEO said as much yesterday at the World Energy Innovation Forum at the Tesla Factory in Fremont. The two-day event, which also offers Model S test rides and a factory tour for attendees, featured a fireside chat with the electric automaker's CEO and Ira Ehrenpreis. During the discussion, Musk revealed that if he had to do it over again, he would have built the Roadster from the ground up instead of using the Lotus Elise chassis. "We ended up changing most of the damn car, so we thought later, why did we do that," he said. Another problem with the original idea for the car was the drivetrain. At first, Tesla had meant to use the motor and other propulsive bits from AC Propulsion, only to find that powertrain didn't work well in a commercial application. Instead Tesla only licensed the reductive charging patent, which allowed some integration of the inverter and charger. Besides knocking Tesla's own early efforts, the outspoken entrepreneur took a couple swings at other technologies with quotable quotes such as: "The internal combustion engine is a ridiculous thing!" and "Current lithium ion technology is better than theoretical fuel cell limits. So, game over. Why bother with fuel cells?" Looks like there are some things Musk is not interested in going back in time and changing.

Lotus Exige Sport 410 Quick Spin Review | An unobtainable gem previews an American future

HETHEL, England — You can get the measure of a car brand by the environment in which its products are built. The narrow, bumpy, hedge-lined lanes of eastern England explain a lot about the way a Lotus goes. The character of a company's chief speaks to the brand's intentions as well. Jean-Marc Gales has been portrayed unflatteringly as a Eurocrat bean counter, but his approach has been to strip weight and cost out of the product to the benefit of performance on both track and bottom line, defining brand attributes that Chinese money can hopefully bring to a wider audience. He drives fast, thinks quickly and acts without hesitation. You sense he likes people who do the same, and the speed with which Autoblog posted the story announcing the new Exige Sport 410 is something he commented upon in flattering terms. Despite the fact that it'll never appear on American dealer lots, Gales made us very welcome at the factory to drive it. A quick update on where the Exige is at since it was last seen on American shores in 2011. Though it's still based around what's fundamentally the same extruded and bonded aluminum tub as every other Elise and Exige of the past 20 years, it's gained pounds, cylinders and performance to the point where it shows circuit pace that'll have 911 GT3 owners watching their mirrors. Since going from a 1.8-liter four-cylinder to the Evora-derived 3.5-liter supercharged V6, the Exige has evolved into a proper hot-rod, some way removed from its dainty roots and punching harder with each iteration. And there have been a few. Currently you can buy a Sport 350 or Cup 430 with the uprated, intercooled Evora engine and 430 horsepower, this new Sport 410 related to the latter and benefiting from many of its upgrades but tuned to be more road compliant. And a little cheaper. Unlike the Cup, you can also have it as a roadster, which, in an extreme example of the famed "add lightness" policy, basically equates to removing the roof panel. It's now arguably too much for the local roads, punching hard in angry bursts of acceleration between corners rather than dancing through them. With no power assistance to the steering and fat, grippy Michelin Pilot Sport Cup 2s, an Exige is a surprisingly physical car to drive, bearing in mind it weighs less than 2,500 pounds. A test track built on runways that once hosted U.S. Air Force B-24 Liberators is a better place to appreciate the Exige's talents.