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China's Geely buying majority stake in Lotus

Geely, the Hong Kong car company that owns Volvo, is acquiring control of British car company Lotus. Geely is purchasing a 51-percent stake in Lotus from struggling Malaysian car company Proton, and a 49.9 percent stake in Proton itself. Etika Automotive will gain the other 49 percent of Lotus. France's PSA Group and Japan's Suzuki had apparently also been interested in acquiring Proton. Geely says it plans to revive both Proton and Lotus. "The agreement lays the foundation for a wider framework for both Geely Holding, Proton and Lotus to explore joint synergies in areas such as research and development, manufacturing and market presence," Geely said in a news release. Those joint synergies will be highlighted by the lightweight chassis technology Lotus is known for, which could help Geely improve fuel efficiency. Geely CFO Daniel Donghui Li said the company aims to "unleash the full potential of Lotus Cars" by expanding and accelerating new products and technologies. Proton was nationally held but was privatized in 2007 to Malaysian conglomerate DRB-Hicom, which is owned by tycoon Syed Mokhtar Al-Bukhary. It was supposed to be the flagship for Malaysia's economic development.Though it owns two factories, Proton mainly rebadges foreign-made cars and sells them in Malaysia. What it has, what Geely presumably wants, is a distribution network in Southeast Asia to pit Chinese cars against Japanese automotive dominance in the region. Retaining a 50.1-percent stake in Proton is seen as a face-saving move. "Proton will always remain a national car and a source of pride, as Proton will still have a majority hold of 50.1 percent," Malaysian finance official Johari Abdul Ghani said. "Our very own much-loved brand now has a real chance in making a comeback, a huge one I hope." Related Video:

Lotus offers Exige S Roadster for sale, but not in North America

The first thing you need to know is that this is the Lotus Exige S Roadster, unchanged from the Exige S even in price and officially the fastest convertible Lotus has ever made. The second thing you need to know is that if you live in the US, you won't be getting this car.
Now that that's out of the way, the lack of a roof, rear wing and front splitter help make it 22 pounds lighter than the coupe, coming in a 2,565 pounds, and the supercharged 3.5-liter V6 in this topless blossom discharges 345 horsepower and 295 pound-feet of torque. For historical comparison with a non-convertible, those numbers nearly match the 2004 Lotus Esprit V8 Final Run edition - which had twin Garrett turbochargers. Yet the Exige S gets from a stoplight to 60 miles per hour in 3.8 seconds, nearly a full second quicker than that Esprit. Fair play, though, the Esprit did weigh 3,040 pounds.
It will be fitted with a six-speed manual only, and cost 52,900 pounds ($79,667 US), 55,378 euros ($71,404 US) or 8,500,000 yen ($82,078 US), depending on where you live. Here in the US we'll be sticking with the track-only Exige V6 Cup and Cup R models. The press release below offers more on the fine points.

Elon Musk buys James Bond's Lotus submarine, wants to install Tesla powerplant

Remember when we reported the long-lost-but-found-again Lotus Esprit submarine used in the James Bond film The Spy Who Loved Me had sold at auction in London for $966,560 (well, $863,000 plus a 12-percent buyer's premium)? At the time, the buyer's identity remained a mystery, but Jalopnik has reported and confirmed that the man with money to burn is none other than billionaire Elon Musk, CEO of both Tesla Motors and SpaceX. What's even more shocking (maybe not for Musk) is that he wants to install a Tesla electric powertrain in it and make it transform into a road-going car.
The story of the submersible Lotus' journey from movie star to prized possession of the eccentric Musk is remarkable. After filming ended in the '70s, the car was shipped to Long Island, NY and placed in a storage container that was paid in advance by the studio for 10 years. After the money ran out, the contents of the container were sold off Storage Wars-style in 1989 and won by an area couple. It was shown in public on occasion throughout the years, but its value remained a mystery until the gavel fell in London last month. While far from the most valuable Bond car to be auctioned off (that honor goes to the Aston Martin DB5 used in Goldfinger and Thunderball, which sold for $4.6 million at auction in 2010), the Lotus submarine is definitely the most unique.
Also worth noting is that the Lotus sub is more than just a prop. Without the aid of CGI, the film's producers needed an actual submarine that looked like a Lotus Esprit, and so they hired a company called Perry Oceanographic in Florida to build it and hired former US Navy Seal Don Griffin to pilot the sub during the film.