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

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Lotus F1 apologizes for tweeting support for LGBT Olympians

The Lotus Formula One Team is apologizing after its official Twitter account posted this image of two men kissing in connection to the opening of the Winter Olympics on Friday, February 7. It claims that the original tweet was "unauthorized."
The tweet, which Lotus deleted later that day, can be viewed to the right and was promptly replaced an apology that said, "We would like to sincerely apologise for an unauthorized message posted on our Twitter account today & will ensure this cannot happen again." Responses to the kerfuffle on its Twitter page have mostly focused on confusion as to what the original tweet was and why it was removed.
While the Sochi Olympics have been controversial among LBGT groups because of Russia's laws banning so-called "gay propaganda," the country has a growing importance in F1. In fact, the first Russian Grand Prix is scheduled to run later this season on a circuit around the Sochi Olympic Park. Genii Capital, the team's owner, has business interests in Russia, and according to the BBC, the Lotus F1 team is working on a deal to with Russian mobile phone company Yotaphone to sell it 10 percent of the team.

Lotus to add 2 new sports cars by 2020, SUV by 2022

British sports carmaker Lotus will bring two new sports cars in 2020 with an SUV right behind them in 2021 or '22, becoming the brand's first all-new vehicles since it began production of the Evora back in 2009.CAR Magazine reports the news in an interview with Lotus CEO Jean-Marc Gales. Of the two cars, he said only that one will be a replacement for an existing car, with the other likely to be a limited-edition, track-focused car slotted above the Evora. It'll base the cheaper of the two on an evolution of Lotus' bonded aluminum chassis, while the other will get a new carbon-fiber chassis and become the brand's new performance flagship. Chinese automaker Geely, which also owns Volvo, purchased a majority ownership stake in Lotus last year, adding what's hoped to be a measure of stability and badly needed investment to years of ownership changes and endless re-iterations of existing models. With Geely money backing the operation, it's likely these two vehicles will be more likely to come to fruition than the last batch of ambitious concepts from the company, which included a new Esprit, Elite, and Elan. Those never progressed beyond the concept stage. The company soon after revealed the Evora GT430 as its fastest, most-powerful road car to date, with a 0-to-60 time of 3.7 seconds, and it put the same supercharged V6 in the Exige to bump up horsepower to 430 and increase torque to 325 pound-feet. Meanwhile, Lotus is ending production of the 3-Eleven this year, and Gales has previously said the company was developing a new Elise for 2020, so it's likely that's one of the new cars. The Elise and Exige were withdrawn from the U.S. back in 2011. The new vehicles will benefit from technology from Geely's network of suppliers, and Geely is also apparently hiring new Lotus staff and investing "millions" in Lotus' production lines. Lotus said its sales were way up in both Europe and the U.S. during its last fiscal year, and while the brand still lost money it narrowed its financial losses and said it expected to be profitable before tax for the current fiscal year.Related Video:

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.