1988 Lotus Esprit Turbo 40th Anniversary Edition - Rare #57 Of 88 Made on 2040-cars

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Renault bailing out Lotus F1 Team to pay $4M tax bill

The road ahead looks to be clear for Renault to reacquire the Formula One team that once bore its name. The latest reports have it that the French automaker is prepared to pay a multi-million-dollar tax bill to the British government to keep the Lotus team from entering bankruptcy proceedings. According to the report from Autosport, the Lotus F1 Team owes a massive GBP2.7 million – equivalent to over $4 million at current exchange rates – to the Her Majesty's Revenue & Customs authority for income tax and national insurance (Brit-speak for social security). The team was supposed to have withheld and submitted the funds on behalf of its 400 employees dating back to June, but since it has yet to pay up, it's being taken to court by the UK government. Apparently unable to foot the bill, the cash-strapped team looked poised to enter bankruptcy just as the Caterham and Manor/Marussia teams did last year. But Renault is now poised to step in to the team's rescue. Those with a longer memory for F1 history will point out that the Lotus team – which has little to do with the sports car manufacturer of the same name – dates back to 1981, and has changed title and ownership several times over the years. What was founded as Toleman was then taken over by Benetton. Renault acquired the team in 2000, but sold it to its current owners Genii Capital in 2009. The team based in Enstone, UK, won back-to-back world championships with Michael Schumacher in 1994-95 and again with Fernando Alonso in 2005-06, but has struggled both competitively and financially over recent years. Consigned to an engine-supply role since divesting itself of majority interest in the Lotus team, Renault has been rumored to be preparing to reacquire the outfit from Genii – and in all likelihood switch it back from Mercedes power to its own. Paying the outstanding tax bill will likely emerge as the first step in that reacquisition. Once it takes over full ownership again, Renault is expected to rebrand the team in its own image, and will then have to decide on driver and other personnel contracts for next season. Related Video:

eBay Find of the Day: 2000 Lotus 340R, claimed only street-legal example in US

These days most of the news out of Lotus comes when it releases a lighter or faster version of the Elise, Exige or Evora. However, the stripped-out, Elise-based 340R might already show the logical conclusion of that concept, despite coming out in 2000. Now, one of the 340 made is up for auction on eBay Motors, and the seller in Fort Lauderdale, FL, claims that it's the only street-legal example available in the US.
Lotus founder Colin Chapman always had an obsession with making his vehicles as light as possible, and the 340R adhered to that adage about as closely as a street car could in 2000. These minimalist roadsters eschewed opening doors, windows and a roof in the pursuit of cutting the fat off the brand's hardly portly Elise. The company's engineers also trimmed away the fenders to give their creation a semi-open wheel design that looked as wild when new as today. For the interior, they installed two racing buckets, and the most of the rest was left in bare metal, including the pedals. All of the changes reportedly brought the 340R down to around 1,545 pounds.
Power comes from a 1.8-liter four-cylinder with a five-speed manual gearbox. The 340R is available with 177 horsepower or a tuned 187-hp version from that mill, but the seller doesn't specify which one this is. It's still a pretty fresh car, though, with just 3,577 miles claimed on the odometer.

Lotus announces Exige V6 Cup racer

The Lotus Exige is once of the most focused race cars that you can purchase on the market today, but for those individuals who desire to track the mid-engined racer, Lotus has released its latest no-frills, all-go racecar: the Exige V6 Cup.
The Exige Cup features a supercharged 3.5-liter V6 making 346 horsepower, enabling the 2,380-pound race car to get from zero to 62 mph in just 3.8 seconds. Power is put to the road with the help of Lotus Dynamic Performance Management, which allows for Touring, Sport and Race settings for the engine.
The Exige V6 Cup also features revised aerodynamics in the front fascia and rear diffuser, and it rides on a fully adjustable suspension that reaches the road with special wheels wrapped in Pirelli P-Zero Trofeo tires.