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Lotus Eletre opens a new front in electric SUVs

Ladies and gentlemen, the new era of Lotus as an EV maker begins with this, the Eletre. It takes elements we've seen on the Evija battery-electric hypercar and Emira ICE sports car, wraps them in a larger package, jacks them up, and throws in a lot of new tech for the brand and the market. Let's start with size, which is the easy bit. The Eletre is 201 inches long on a 118.9-inch wheelbase, about 79 inches wide, and 64 inches high. Every one of those dimensions puts the Lotus within a couple of inches of the Aston Martin DBX: the EV being a little longer, with a slightly shorter wheelbase, a little wider, and a roof a couple of inches lower. For us, the side view most closely represents the form we had in mind based on recent spy shots. The front is intense, the yellow of the hero car making the greatest contrast with the polygonal void below. The lights above the leading edge are DRLs and turn signals, the main beams are recessed into that void, hugging the upper edge. The rear, with its Lotus script and full-width light bar fading into triangular intakes along the sides, clearly comes from the sports cars. It can glow in four colors depending on what it needs to communicate, and forms a connection with the light bar across the instrument panel. The SUV proportions and black roof are still playing tricks with our eyes, though; we can't help feeling the Eletre carries its bulk up high. The wheels are an optional set of 23-inchers that hide optional 10-piston (ten!) calipers gripping ceramic composite rotors. Lotus isn't ready to divulge specific battery capacity and motor outputs between those wheels. All we're told is the pack is more than 100 kWh and output starts at 600 horsepower. Every Eletre is all-wheel-drive, with a motor on each axle. The 800-volt electrical architecture can handle up to 350-kW fast-charging, 20 minutes at a station at that charge rate restoring 248 WLTP miles of the Eletre's estimated 373-mile range in WLTP testing. EPA numbers will come eventually. Lotus says the hauler will get to 62 miles per hour in under 3 seconds and hit a top speed of 161 mph. The electronic side mirror housings each contain three cameras, one camera for the rear views, one to help stitch a 360-degree overhead view, and one to help enable self-driving. The charge port is on the front left fender, but keen eyes might notice more shutlines atop the front wheel arches.

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.

Lotus teases its sleek Type 130 electric hypercar

Lotus has shown a teaser image of a new concept, which will usher in the automaker's electric era. The Type 130 hypercar concept will be shown later this year in London, but this aerodynamic teaser is the first glimpse at its shapely flanks. The Type 130 is said to be in "advanced stages of development." According to Lotus, the Type 130 will spawn a production version, which will be the brand's first all-new vehicle in 11 years. It will be partially bankrolled by Lotus' parent company, the Chinese carmaker Geely, which also owns Volvo. Despite that, the hypercar will not be built in China, but in England. An earlier Autocar article estimated the eventual price at around $2.6 million. Last month, news broke that Lotus is also bringing another new car to market, but that one is likely to retain internal combustion technology along with engineering ties to older Lotus architecture, as it forms a sort of "bridge" between current Lotus products and its future cars. Hence, it can't be called "all-new" in the same sense as a fully electric halo model can. Lotus also noted some of its "firsts" when informing the media of the upcoming concept, which it calls "the world's first full-electric British hypercar." The 1995 Elise was the world's first aluminum and bonded extrusion construction production car, while the 1957 Elite was a production first in the sense that it first brought the composite monocoque within the reach of customers. Between those, there was a lot of groundbreaking F1 knowhow: ground effects for the '77 Type 78 F1 car, carbon fiber for the '81 Type 88, and active suspension in 1983.