1993 Lotus Esprit Turbo Se Coupe 2-door 2.2l on 2040-cars

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Lotus Type 130 electric hypercar confirmed for July 16 reveal

Lotus just formally announced that its electric hypercar will be revealed on July 16. It's called the Type 130, and it's confirmed for production at Lotus headquarters in Hethel, Norfolk. The name is derived directly from the production quantity, as Lotus is capping the car at just 130 units. This project is coming together at a rapid pace, as Lotus also says the first customer deliveries will happen in 2020. Meeting time goals for the production of EVs has proven troublesome for some manufacturers, so we'll see if Lotus is able to deliver in the next year and a half. The British sports car company has Chinese backing in the form of Geely now, so the funds to make this car happen appear to be there. Lotus says that it's had several hundred people express interest in buying the Type 130 since its confirmation at the Shanghai Auto Show. Of course, with only 130 slots available to buy the vehicle, we'll see how it all shakes out once Lotus announces what we expect will be an extravagant price tag. Hypercars, and especially electric hypercars, are never cheap. Lotus released a teaser photo that tells us next to nothing, but it is a photo of the car. The teaser video below is a bit more interesting with the "Hand Built in Britain By Lotus" emblem and the electric charge port hidden off to the left. It has an automatically closing door there, which doesn't exactly feel like Lotus' style. If something can be done mechanically to save weight, that's typically the path taken. We won't prejudge the car too harshly, though, as this represents an entirely new take on Lotus vehicles. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Renault paid GBP1 to buy back its F1 team

Running a Formula One team is anything but cheap and straightforward, but it didn't cost Renault much to reacquire the Lotus team from Genii Capital. In fact, according to the latest reports, the French automaker paid just GBP1 – less than a buck fifty – for the privilege. Still, the process was deeply complicated. The reason Renault was able to get it so cheap is because the team was deeply in debt, part of which Renault will now assume. Less than a year ago, the team was said to be nearly $200 million in the red, and just a few months ago Renault came to its rescue to pay a $4 million tax bill to the British government. Under the terms of the new deal, Renault will assume the debt that the team's previous owners had accrued, but will be spared the nearly $150 million which its stakeholders loaned to the team. The history of the outfit based in Enstone dates back to 1981 when it was founded as Toleman Motorsport. French fashion giant Benetton bought the team in 1985, which in turn sold it to Renault in 2000. A decade later, after two world championship titles, Renault began stepping back its involvement in the team and gradually transferred ownership to investment firm Genii Capital, which has run it ever since under the Lotus name that it secured from the automaker under contract until 2017. Unable to fund a competitive team, Genii has now sold the team back to Renault, but the financial intricacies of the deal are far from straightforward. To start with, Genii and its subsidiary Gravity Motorsports (the team's parent company) didn't hold all the shares in the operation, so it bought back over 6 million shares from Whiterock Alliance to add to its own 60 million shares. The vast majority of those shares were then transferred (for that princely sum of GBP1) to Gringy (UK) Ltd, the shell company that technically owned the team in its Benetton days. Gringy (a wholly owned subsidiary of Renault) will hold a 90-percent stake in the team, with the last 10 percent remaining in Genii's hands and those of its investors. In the process, the outfit will now rejoin the likes of Ferrari and Mercedes among the F1 teams developing their own powertrains. Related Video: News Source: Motorsport.comImage Credit: Dimitar Dilkoff/AFP/Getty Earnings/Financials Motorsports Lotus Renault F1 genii capital

Lotus Eletre configurator welcomes virtual tire kickers

The Lotus Eletre configurator is ready to be toyed with. There aren't that many customization options to play with, but the total experience is quite fun. The exterior palette consists of seven colors. The odd bit is that, try what browser we may, we couldn't get the names of those seven colors to appear anywhere. The menu looks like black, green, red, yellow, and three shades of silver, but clicking the latter three reveals what looks like a metallic silver, a flat gray, and a rose-tinted-something. Same with the interior, which comes in green, black, white, or beige. All but black result in a two-tone cabin. Things are much easier when it comes to wheels. The floral petal rims either come in all black or black with polished accents, the center caps are either Lotus yellow or black, and the calipers are either yellow, red, green, black, or charcoal.  For those of you unsure about the Eletre's looks, the well stocked Animations, Beautyshots, and Environments sections could get you on board with the styling — it did for us; a red Eletre under a cosmopolitan setting spoke to us in a way the yellow debut model did not. A couple of notes, though. Choose your colors in one of the Environments; the ambient lighting in the Beautyshots changes the vehicle lighting like in real life, turning the bright yellow calipers into a dusty gray in one instance, for example. The animations that show off features like the aero shutters in the grille and the active rear spoiler need a couple of clicks to perform. And again, just like in real life, the Eletre only does what you tell it; if you leave the hatch up in the Boot animation then click the Spoiler or Front Left Door, the boot stays up. Click to a city environment with the driver's door and hatch open and you'll be crystal clear as to what the Eletre looks at the end of a shopping run, a feature we've never seen in a configurator before. You have your mission and your cautions, now go play. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2017 Lotus Evora 400 Review | Autoblog