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Renault bailing out Lotus F1 Team to pay $4M tax bill

The road ahead looks to be clear for Renault to reacquire the Formula One team that once bore its name. The latest reports have it that the French automaker is prepared to pay a multi-million-dollar tax bill to the British government to keep the Lotus team from entering bankruptcy proceedings. According to the report from Autosport, the Lotus F1 Team owes a massive GBP2.7 million – equivalent to over $4 million at current exchange rates – to the Her Majesty's Revenue & Customs authority for income tax and national insurance (Brit-speak for social security). The team was supposed to have withheld and submitted the funds on behalf of its 400 employees dating back to June, but since it has yet to pay up, it's being taken to court by the UK government. Apparently unable to foot the bill, the cash-strapped team looked poised to enter bankruptcy just as the Caterham and Manor/Marussia teams did last year. But Renault is now poised to step in to the team's rescue. Those with a longer memory for F1 history will point out that the Lotus team – which has little to do with the sports car manufacturer of the same name – dates back to 1981, and has changed title and ownership several times over the years. What was founded as Toleman was then taken over by Benetton. Renault acquired the team in 2000, but sold it to its current owners Genii Capital in 2009. The team based in Enstone, UK, won back-to-back world championships with Michael Schumacher in 1994-95 and again with Fernando Alonso in 2005-06, but has struggled both competitively and financially over recent years. Consigned to an engine-supply role since divesting itself of majority interest in the Lotus team, Renault has been rumored to be preparing to reacquire the outfit from Genii – and in all likelihood switch it back from Mercedes power to its own. Paying the outstanding tax bill will likely emerge as the first step in that reacquisition. Once it takes over full ownership again, Renault is expected to rebrand the team in its own image, and will then have to decide on driver and other personnel contracts for next season. Related Video:

Lotus Advanced Performance offers hints about special projects

Four months ago, Lotus teased the creation of an Advanced Performance division. The legendary sports car maker divulged that the department would build "ultra-exclusive and unique vehicles" outside of the firm's regular-production lineup, developing Lotus race cars, manage Lotus motorsports programs, work on customer commissions and create customer experiences from Hethel production tours and track days to global driving academies and "money can't buy" opportunities. In further comments to Autocar and Auto Express, the head of Lotus Advanced Performance (LAP), Simon Lane, gave clues about what's coming. Lane suggested a number of creations, but the part we're most excited about is "while wider Lotus Group moves towards full-on electrification, LAP is 'reserving the right to still play with combustion engines.'" These ICE powerplants could be slated for coming restomod projects based on plans and technical drawings for Lotus products in the 1960s and 1970s that were never produced. Lane said his 15-person team is "well advanced" on work on what he calls "scratch build" vehicles that will hearken to vintage wares but be "easier to drive and maybe [have] a better power-to-weight ratio and better brakes." We love our electric cars here at Autoblog, but the idea of lightweight revivals recalling Lotus' best years with classic lines, small-displacement engines and maybe even manual transmissions would be glorious. These won't be continuation cars, but all-new products with production runs said to be smaller than anyone would expect.    It's possible we could see something this year, 2022 being the 50th anniversary of Emerson Fittipaldi and Lotus winning the 1972 Formula 1 Driver's and Constructor's Championships in the Lotus-Ford 72D. That might explain the teaser image from February, if not the colors of the car in the teaser. Know what other momentous Lotus moment occurred in 1972? The Esprit concept debuted at the Turin Motor Show. Lane, who comes from service in Aston Martin's Q division, calls LAP "the most all-encompassing special operations department" among automakers. That means there will be work done on the electric side, too, potential services being electric drivetrain conversions of traditional Lotus cars, and creating new bodywork for the new range of battery-electric cars.

Lotus responds to rumors of demise, promises 2016 MY Evora

It's not been a great week for Lotus. Seven days ago, the UK-based automaker laid off a quarter of its workforce, terminating "up to 325 jobs." And then, just a few days ago, it was reported that the company would be ending US sales of its well-received Evora due to the expiration of an airbag exemption. The Evora is the only vehicle Lotus sells in the US, meaning its end effectively removes the brand from the market.
That was apparently a bridge too far, though, as the company has issued defiant statement, claiming it'll be back, in both the US and Canada, for model year 2016, with an air-bag compliant Evora.
"I know that this will be welcome news to our thousands of owners and fans in North America, but the reality is that there was never any intention to leave. The North American market is vitally important for us and we intend to expand our dealer network and grow our sales volumes in the future," Jean-Marc Gales, CEO of Group Lotus said in a statement. "I would like to thank our fantastic Lotus following for their support over the years and remind them that we are working on many exciting products for the future. We will continue to explore our core values on how to make a sports car better by making it faster, lighter and maintain the pure driving experience."