1990 Lotus Esprit Se Turbo ! :service History: Lotus Dealer ! on 2040-cars

Auto blog

Why Lotus thinks its luxury EV game plan will succeed globally

  Luxury sports car and EV maker Lotus completed its SPAC merger last week in the U.S. and its stock was publicly traded for the first time on Friday. It’s an interesting turn of events for the Geely-backed automaker now known as Lotus Tech given the uncertain EV market, but one that may prove an exception to the struggles of other pure-play EV makers. Trading under the ticker LOT on the Nasdaq, Lotus Tech will focus on the higher end of the EV market with its Eletre SUV and Emeya sedan, which will not only be offered in the US but also in Europe and, more importantly, China. “What is most important here is that we are definitely going to more markets at the same time through more models and through more stores,” said Lotus Tech CFO Alexious Lee to Yahoo Finance from the Nasdaq market site. By the end of the year Lotus will have four vehicles in production, three of them EVs. “These four models are currently available in Asia Pacific and part of it is also available in UK and EU,” Lee said. “We're having the new [Eletre] SUV model coming into the U.S. in the third quarter of this year, so different markets have different strategies and different product offerings and different conditions." Lotus is able to go to market in a number of territories due to the backing of its majority owner, Chinese auto giant Geely. But it also raised a considerable amount of money through its SPAC merger. Lotus Tech said it raised more than $880 million in pre-closing and PIPE financing commitments, with a targeted valuation on listing day of nearly $7 billion. Lotus Tech also had an interesting partner with its SPAC merging, combining with L Catterton Asia Acquisition Corp (LCAA), which is backed by French luxury conglomerate LVMH. Lotus Eletre in Solar Yellow View 11 Photos As Lotus targets the luxury segment with its vehicles — the Eletre and Emeya will be playing in the $80,000 to $150,000 ballpark — having a partner like LVMH, with its deep connections and insights into the luxury consumer, could be hugely beneficial. “Now what is more important here is Anish Melwani, who is the CEO for LVMH North America, will be on the board of Lotus Tech,” Lee said.

Race Recap: 2013 Japanese Grand Prix flips several scripts [spoilers]

Japan's Suzuka circuit is a great track that all the drivers love, but it doesn't usually provide the most thrilling, head-to-head racing. Where it does excel, however, is with surprises and "What just happened there?!" moments, and this year it was no different.
It started with Mark Webber in his Infiniti Red Bull Racing out-qualifying his teammate Sebastian Vettel for the first time this year. They were followed closely by Lewis Hamilton in the first Mercedes-AMG Petronas, the still-solid Romain Grosjean again outdoing teammate Kimi Räikkönen, Felipe Massa racing for another seat in Formula One and putting his Ferrari in fifth, then Nico Rosberg in the second Mercedes, Nico Hülkenberg in the first Sauber, Fernando Alonso in the second Ferrari, and Räikkönen continuing to do himself no favors by qualifying tenth.
For the second year in a row, the lights going out was the cue to start the first corner action...

Lotus Type 132 electric crossover spotted testing in China

Thanks to Carscoops, we know that Weibo Chinese social media user Ductile Iron BX spotted a Lotus Type 132 prototype testing on Chinese roads. This is the vehicle that will inaugurate the English sports car maker's transition to a battery-electric future and its future as a purveyor of crossovers, the once dirty word among the light-and-simple crowd that's just too profitable to ignore. In profile, the long, low roof makes the Type 132 look more like a jacked-up Allroad-style wagon than a traditional crossover. The heavy camo can't hide the jutting tail that holds a deployable spoiler. Those regular-sized wheels look good, but they don't fill the arches that way we've come to expect from speedy SUVs; we won't be surprised if larger rims appear on the debut model, with an option for even larger rims. The treatment of the rear quarter glass, which looks like a vent, is a neat touch. We know black drapery hides other touches like an active lower grille, its hexagonal mesh peppered with panels that twirl open to provide the right combination of powertrain cooling and vehicle aerodynamics, and some kind of sensor unit rising from the roof. Nor can the camouflage hide the sharp lines throughout, from the concave front fascia to the arced rear fenders to the dramatic rear bumper. This could be a good looking start to Lotus' people-hauler era. The Type 132 is expected to debut this spring, riding on the firm's Evolution Architecture for premium vehicles and featuring 800-volt electrics and a battery with a possible 120-kilowatt capacity. Lotus has said the crossover will reach 60 miles per hour in under 3. seconds, an estimate that probably refers to the dual-motor version that might put out as much as 750 horsepower. Even though the Type 132's place in the luxury segment will see it lined up against entries like the Aston Martin DBX and Porsche Cayenne, this being the first super-sporty CUV from this OEM, it will undoubtedly spend the early part of its life thrown into battles with the Tesla Model X. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.