2007 - Lotus Exige on 2040-cars

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Born-again Lotus Esprit will be a hybrid in more ways than one

Volvo parent company Geely is helping Lotus end its drought of new products. The storied British company is allegedly developing a mid-engined hybrid coupe it will position as a spiritual successor to the Esprit. The yet-unnamed model will slot above the existing Evora as a more usable and more refined alternative, according to sources who spoke to Autocar. It will ride on a modified Evora platform, but the two cars won't look anything alike; the upcoming hybrid will liberally borrow styling cues from the electric Evija hypercar.  The planned gasoline-electric powertrain will make the coupe a hybrid in more ways than one. The space directly behind the two-seater cabin will be occupied by a V6 sourced from the Toyota parts bin, and the electrified portion of the system will consist mainly of components provided by Volvo. An output over the 500-horsepower mark is likely, but more specific technical specifications remain guarded. What's nearly certain is that the Lotus engineering team will go to significant lengths to offset the weight added by the lithium-ion battery pack. Insiders described the coupe as a stop-gap between the current-generation Lotus models, including the Elise still sold in many global markets, and an array of upcoming sports cars that will ride on a new platform. Another one of the company's future models is an SUV — its first — built on Volvo bones and aimed at the Porsche Macan.  Lotus will introduce its mid-engined coupe during the first half of 2021, still according to Autocar, and sales will begin shortly after. It's too early to tell whether the model will be sold in the United States, but the company has previously indicated it wants to broaden its foothold in our market in order to grow, so we'd bet on seeing it here. This isn't the first time Lotus has tried to reboot the Esprit. In 2010, under the leadership of Dany Bahar, the company took the Paris auto show by storm when it unveiled five close-to-production concept cars including one that previewed a modern-day Esprit. The project was far too ambitious and none of the models shown in the French capital made it to production. In 2012, Lotus vehemently refuted rumors claiming it had canceled the Esprit, which was penciled-in for a 2013 launch, but hindsight is 20/20. Time will tell if two's the charm.

Lotus to add 2 new sports cars by 2020, SUV by 2022

British sports carmaker Lotus will bring two new sports cars in 2020 with an SUV right behind them in 2021 or '22, becoming the brand's first all-new vehicles since it began production of the Evora back in 2009.CAR Magazine reports the news in an interview with Lotus CEO Jean-Marc Gales. Of the two cars, he said only that one will be a replacement for an existing car, with the other likely to be a limited-edition, track-focused car slotted above the Evora. It'll base the cheaper of the two on an evolution of Lotus' bonded aluminum chassis, while the other will get a new carbon-fiber chassis and become the brand's new performance flagship. Chinese automaker Geely, which also owns Volvo, purchased a majority ownership stake in Lotus last year, adding what's hoped to be a measure of stability and badly needed investment to years of ownership changes and endless re-iterations of existing models. With Geely money backing the operation, it's likely these two vehicles will be more likely to come to fruition than the last batch of ambitious concepts from the company, which included a new Esprit, Elite, and Elan. Those never progressed beyond the concept stage. The company soon after revealed the Evora GT430 as its fastest, most-powerful road car to date, with a 0-to-60 time of 3.7 seconds, and it put the same supercharged V6 in the Exige to bump up horsepower to 430 and increase torque to 325 pound-feet. Meanwhile, Lotus is ending production of the 3-Eleven this year, and Gales has previously said the company was developing a new Elise for 2020, so it's likely that's one of the new cars. The Elise and Exige were withdrawn from the U.S. back in 2011. The new vehicles will benefit from technology from Geely's network of suppliers, and Geely is also apparently hiring new Lotus staff and investing "millions" in Lotus' production lines. Lotus said its sales were way up in both Europe and the U.S. during its last fiscal year, and while the brand still lost money it narrowed its financial losses and said it expected to be profitable before tax for the current fiscal year.Related Video:

Lotus F1 team $186 million in debt

The Lotus F1 team has fallen on some hard times. Majority-owned by investment firm Genii Capital and having little to do with the British automaker with which it shares its name, the Enstone-based outfit has been widely reported to be in serious financial trouble. The extent of those difficulties were until now unknown, but a new report from Germany's Auto Motor und Sport reveals that the team is in the red to the tune of £114 million - equivalent to $186 million at today's conversion rates.
The lack in cashflow is widely believed to have been the impetus for Kimi Raikkonen's departure from the team in order to return to cash-rich Ferrari, and was one of the major factors in selecting Pastor Maldonado to replace him instead of a more proven and accomplished driver of Raikkonen's caliber. Maldonado brings with him major sponsorship funds from Venezuelan state oil company PDVSA. In speaking with the German publication, however, Lotus F1 chairman (and Genii co-founder) Gerald Lopez revealed that the lion's share of the team's debt - £80 million or $130 million - is with Genii Capital itself, a negative balance that isn't likely to affect the team's day to day. That leaves about $56 million which the team owes to outside parties, including Raikkonen, who has yet to receive the full pay he was contracted for.
The team has opted to sit out the first test session of the Formula One season at Jerez. Its 2014 chassis isn't ready and, given the relatively cold temperatures at this point in the year, the team wouldn't expect to learn much about tire performance and degradation. As far as the new engine goes, Lopez says that any knowledge gleaned by Red Bull, Toro Rosso and Caterham at the test session will ultimately be shared with Renault and through it back to Lotus as well. Lotus engineers helped develop the new KERS system with Renault regardless, so the team already has the energy-recovery data it needs. The team will instead prepare for the second test session in Bahrain, by which point it aims to have its new car ready to kick off the season. Lopez says that it has secured the funding to offset its costs for the season ahead, and that it is working to pay down its debt.