1994 Lotus Esprit S4 Coupe 2-door on 2040-cars

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Fighter jet-inspired Lotus EV was developed for endurance racing in 2030

Lotus is about to start writing a new chapter in its long history, and the plot could include a renewed focus on racing. It unveiled a futuristic concept called E-R9 that explores what an endurance race car might look like in 2030. Developed by Lotus Engineering, the E-R9 is a digital design study that exists only in computer-generated renderings (shown above). It's finished in black and gold, a color scheme chosen as a tribute to the British company's past race cars, and it's equipped with a stunningly advanced suite of active aerodynamic add-ons. Its morphing body panels can be controlled automatically or manually, depending on the situation. On long straights, they flatten out to reduce drag. When a corner approaches, they generate more downforce. The vertical control surfaces on the back end of the triangle-shaped body adjust themselves as-needed to allow the car to pivot around a turn. "The result is a racer that’s partly driven like a car and partly flown like a fighter jet," Lotus promised. Fittingly, the driver sits in a fighter jet-like cockpit with a wrap-around windshield that provides excellent visibility. Photos of the cockpit haven't been released, however, but it's likely as science fiction-esque as the exterior design. Power for the E-R9 comes from a fully electric drivetrain that assigns each wheel its own motor. It's an evolution of the system fitted to the Evija, the first production-bound electric Lotus. Details like range, horsepower, torque and acceleration aren't available, but the firm hinted that its racer uses a battery pack built with a mixed-cell chemistry. Interestingly, it also pointed out the battery can theoretically be swapped out during pit stops, which solves the issue of pausing the race — or losing precious seconds — while the driver waits for the pack to take a charge. Many of the features showcased by the E-R9 are not in production, but Lotus says that could soon change. "The Lotus E-R9 incorporates technologies which we fully expect to develop and be practical. Lotus has an amazing history of developing unique solutions, and weÂ’ve done it many times in motorsport and with our road cars," said Lotus chief aerodynamicist Richard Hill in a statement. While that's not a confirmation that Lotus will send the E-R9 to the track in 2030, it's a strong signal that the company wants to continue racing for decades to come. Related video:

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 says it's hiring 200 new engineers in effort to expand

Lotus is making moves to rise back up in the automotive world. A report from The Telegraph says the British company will hire 200 new engineers. This batch of hiring comes from the pockets of new Chinese owner Geely. The plans also include the opening of a new engineering center in the U.K. away from its longtime home in Norfolk. Lotus CEO, Phip Popham said this about the new moves. "Lotus has been in survival mode for many years. We're taking on people here and also in the Midlands. We need to tap into the industrial resource outside Norfolk to help our growth," Popham said. These new hires are all part of a multi-billion dollar investment into Lotus from Geely to try and turn the company around. Ultimately, Lotus wants to triple its current production all the way up to 5,000 cars per year. One of the initiatives from this investment is an all-electric hypercar we saw teased not too long ago. Popham also spoke of making cars with a slightly different focus than the Lotus we know of today. "A car not just for the weekend, but one you can live with," Popham says. Ideas of a Lotus SUV or grand tourer have bounced around in the recent past, and those still appear to be in the company's plans. The British brand plans on tapping Geely for many items it doesn't already have, according to the report. These include modern items like digital display screens and parts required for electrification of its vehicles. A new platform meant to house these "livable" Lotus cars is said to be in the works.