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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.

New Lotus owners ditch ambitious five-year plan

This didn't take long. The new overlords at Lotus have reportedly scrapped the company's five-year plan. DRB-Hicom ditched the turnaround strategy, penned by ousted CEO Danny Bahar, because it believes the market viewed the plan as overly ambitious.
The new product plan will slim the number of new model lines from five to three, and Lotus will likely slash the number planned consultants in favor of relying more heavily on in-house talent. According to The Star, the move should help expedite product development and save cash at the same time.
Even so, nothing is written in stone as of yet. DRB-Hicom says the new plan will take up to a year to finalize. The company has dumped around $242 million into Lotus so far this year, and the struggling automaker may require another $121 million by 2013. Lotus all but stopped production earlier this year during a loan freeze, but the lights came back on in April. The company now produces around 44 vehicles per week.

Lotus Exige V6 Cup takes extreme to the extreme

What separates a road car from a race car? You're looking at it. It's the Lotus Exige V6 Cup, a model based on what is already one of the most hardcore performance machines on the road, albeit upgraded to an even harder-core spec. It's a good 130 pounds lighter than the Exige S (a vehicle which didn't have much flab to trim in the first place) and can hit 60 in under four seconds. With the notably exception of certain versions of the Porsche 911, there aren't a lot of six-cylinder cars that can claim that kind of performance.
In fact, the Exige V6 Cup is so close to race spec that it's already eligible for a number of racing series. Just bolt in the removable FIA-certified roll cage, maybe swap on some slick tires and you're good to go. Then you can drive it home again when you're done, just like in sports car racing's heyday. But don't take our word for it: the team over at XCar took the V6 Cup to the UK's Goodwood circuit to see how it compared to the Exige S it recently drove, and you can view the stirring results in the video below.