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Lotus to receive $16M government grant

Troubled British automaker Lotus is getting a second infusion of cash following a 100-million-pound ($161.5-million) investment by its parent company DRB-Hicom that was made in August. The substantially smaller investment, a mere 10 million pounds ($16.2 million), comes from the British government's Regional Growth Fund.
The fund, which is part of a 3-billion-pound ($4.8-billion) fund to spur economic growth in the UK, will allow Lotus to invest even further in research and development as it seeks to reinvent its lineup of lightweight sports cars. The fund will also allow the UK-based outfit to provide further training for its new crop of employees.
"This grant is part of a wider strategy for Lotus created to ensure we thrive and grow. We are responding to increased global demand for our cars and engineering consultancy services and this grant will help to position Lotus as the forefront of global automotive innovation," said Aslam Farikullah (shown above with UK Business Secretary Vince Cable MP), the chief operating officer at Lotus.

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 Evora, Exige, and Elise add lightness to Geneva

The folks at Lotus have been quite busy over the past few months adding lightness to their vehicles. Since December, the company has introduced lighter, quicker versions of the Evora, Exige, and Elise, and all three members of the trio are present at the 2016 Geneva Motor Show. Each one is special in its own way, but if you crave a nimble sports car, you probably wouldn't be disappointed with any of these new models. The Evora Sport 410 is the most luxurious member of the bunch, at least by Lotus standards. At 2,921 pounds, it's also the heaviest, but a 410-horsepower 3.5-liter supercharged V6 makes this one the most powerful, too. The coupe can rocket to 60 miles per hour in 3.9 seconds and to a 186-mph top speed. Lotus will make just 150 of these special Evoras per year, and they'll have carbon fiber parts for the roof, tailgate, sports seats, and more. Best of all, this will be the only one of these three that will get a North American version. The Exige Sport 350 Roadster is the coolest member of this group, featuring tartan seats that we absolutely love. It's also the quickest of the three, reaching 60 mph in just 3.7 seconds, and it tops out at 170 mph. The rapid sprint is possible because the 345-hp 3.5-liter supercharged V6 only needs to push 2,480 pounds. The Elise Cup 250 rounds out the group with the lightest weight at 2,053 pounds (2,030 pounds with the optional Carbon Aero Package) but the least power at 243 hp. However, it certainly isn't slow with a 60-mph run in 3.9 seconds and a top speed of 154 mph. Lotus plans to make just 200 of them year each year. If you could pick any one of the three, which would you choose? The Evora might be the most livable every day but chucking around the Elise could be a barrel of fun. There're also those fantastic seats in the Exige. Let us know in Comments which one you want the most.