1988 Lotus Esprit Turbo Coupe 2-door 2.2l on 2040-cars

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Lotus teases its sleek Type 130 electric hypercar

Lotus has shown a teaser image of a new concept, which will usher in the automaker's electric era. The Type 130 hypercar concept will be shown later this year in London, but this aerodynamic teaser is the first glimpse at its shapely flanks. The Type 130 is said to be in "advanced stages of development." According to Lotus, the Type 130 will spawn a production version, which will be the brand's first all-new vehicle in 11 years. It will be partially bankrolled by Lotus' parent company, the Chinese carmaker Geely, which also owns Volvo. Despite that, the hypercar will not be built in China, but in England. An earlier Autocar article estimated the eventual price at around $2.6 million. Last month, news broke that Lotus is also bringing another new car to market, but that one is likely to retain internal combustion technology along with engineering ties to older Lotus architecture, as it forms a sort of "bridge" between current Lotus products and its future cars. Hence, it can't be called "all-new" in the same sense as a fully electric halo model can. Lotus also noted some of its "firsts" when informing the media of the upcoming concept, which it calls "the world's first full-electric British hypercar." The 1995 Elise was the world's first aluminum and bonded extrusion construction production car, while the 1957 Elite was a production first in the sense that it first brought the composite monocoque within the reach of customers. Between those, there was a lot of groundbreaking F1 knowhow: ground effects for the '77 Type 78 F1 car, carbon fiber for the '81 Type 88, and active suspension in 1983.

Watch the Lotus 3-Eleven run down Porsches and destroy the Nurburgring

The Lotus 3-Eleven is the automaker's most powerful production machine to date. Roughly a year ago, Lotus set out to show just how capable the 3-Eleven is by sending the open-top track-focused machine to the Nurburgring. Lotus claims the car set a blistering time of 7:06 around the track. Now in a belated celebration, automaker released two new, short clips of the vehicle sprinting around the Green Hell. There's no questioning just how capable the 3-Eleven is. In both videos, which are shot from the driver's seat, the track car chases down various Porsches at an impressive rate. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. While there's some controversy over how Lotus set the time, the 3-Eleven's claimed Nurburgring pace is quicker than a Nissan GT-R Nismo and is just four seconds slower than a Lamborghini Aventador LP750-4 SV. Earlier this year, Germany's Sport Auto magazine took the 3-Eleven to the Hockenheimring where the track car managed to set a new record, besting the likes of the Porsche 918 Spyder. With a claimed dry weight of just 1,962 pounds, the 3-Eleven focuses emphasizes lightweight structure over massive power. Still, it's Lotus' most powerful production car with a 3.5-liter supercharged V6. In the right hands, the 3-Eleven can sprint to 60 mph in 3.0 seconds and managed to lap the automaker's test track 10 seconds quicker than the Evora 400. Marc Basseng, the racecar driver piloting the 3-Eleven, claimed the 3-Eleven could go even faster around the Nurburgring with less traffic. After watching these new clips, we would have to agree. Related Video:

European commission investigating F1 finances and anti-competitive accusations

The Kingdom of Formula One reminds us of renaissance Florence - ruled by a singular chieftan behind a mask of representative involvement, rife with spectacularly convoluted machinations, awash in innovations that help define our world and far-flung, vindictive misery. If we found out Bernie Ecclestone's real last name was de Medici, well, it would explain a lot. Now after a bit of back-and-forth, the European Commission (EC) has taken aim at the kingdom, investigating whether F1 is anti-competitive and if the FIA has abused its antitrust agreement. The reason for EC scrutiny is that a British member of the European Parliament who represents an area in southwest England, Anneliese Dodds, has fielded complaints from engineering companies in her constituency that recent moves in F1 have put them out of business. She wrote to the EC to question why the FIA now has a stake in F1 when it signed an agreement in 2001 to be solely a governing body and abdicate any stakeholding in the sport. She also questioned the F1 Strategy Group, a group of the six top teams in F1 that makes decisions about the direction of the sport; she says that the Strategy Group not only appears to be a case of the F1 shirking its rule-making duty, it has resulted in unfair treatment of the small teams that aren't in the group. Dodds has a bit of a point. In 2001, the FIA sold F1's commercial rights to Ecclestone for 100 years for a sum of $313.7 million. That was done to placate European regulators who insisted that "the role of FIA will be limited to that of a sports regulator, with no commercial conflicts of interest." Although the rights are ultimately owned by the FIA and bring in a $10M fee every year from Formula One, those rights bring in $1.6 billion each year to Formula One Management (FOM), the company that owns F1. When Ecclestone was trying to get the new Concorde Agreement signed in 2013 that governs the running of the sport, the FIA wouldn't sign, saying it wanted F1 to share a larger slice of its revenue – the FIA has been losing money for years, see. To the get the FIA to sign, Ecclestone sold it a one-percent stake in F1 for $460,000 and gave the FIA a $5M signing 'bonus;' whenever F1 has its IPO, that stake is estimated to be worth about $120 million - not a bad return. Yet, according to the aforementioned 2001 agreement, the FIA can't have that equity stake.