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Lotus sells loads more cars, earns way more money

Sports-car company Lotus has reason to be excited. It released some facts on its sales and financial performance for the 2016 and 2017 fiscal year, and it has seen some impressive improvements. According to the company, it sold nearly 60 percent more cars in mainland Europe compared with the 2015/2016 fiscal year, and it sold six times as many cars in the U.S. compared with that year. This helped it go from a loss of GBP16.3 million for the previous year in earnings before interest, taxes, depreciation and amortization (EBITDA) to a GBP2 million profit EBITDA. The fact that those numbers are given before all those extra expenses is noteworthy, though, as it means the company isn't truly profitable yet, despite major gains. The company did report numbers that only excluded tax, and those show the company still lost money. But the good news is that it lost much, much less money than the year before. Before taxes for the 2015/2016 fiscal year, the company lost GBP41.2 million, and this year, it only lost GBP11.2 million. The company expects it will be profitable before tax in the coming year. So Lotus isn't perfectly healthy yet, but this, combined with Geely's recent acquisition, shows it's well on its way to becoming fit as a fiddle. We like the cars Lotus makes, so we hope that things keep getting better, and that we'll maybe get more Lotus models in the future, beyond just the Evora road car and 3-Eleven track car. Related Video: Featured Gallery 2017 Lotus Evora 400: First Drive View 29 Photos Image Credit: Lotus Earnings/Financials Lotus Coupe Lightweight Vehicles Performance

Lotus to produce new crossover in China

Lotus and its parent company recently signed a joint-venture agreement with Chinese automaker Goldstar to build vehicles in China for local consumption, and according to the latest report from Autocar, it'll all come down to a new sport-ute. That's because the market for C-segment compact crossovers in China is huge. So big that it's impossible for Lotus to ignore. Porsche is reportedly selling 30,000 Macans in China alone each year, and is expected to reach 50,000 per annum there in the near future. "Six million SUVs will be sold in China this year, and more than half of those are C-segment models," Lotus chief Jean-Marc Gales told Autocar. "That figure is forecast to rise to eight million in four years. C-segment SUV sales alone will be bigger than the entire German market." Little wonder, then, that Lotus and Proton are keen to dive in. Technical details for the new Lotus crossover are still being worked out, but we'll likely be looking at a steel monocoque chassis clad in composite and aluminum body panels, riding lower than a Macan and weighing a good 400-500 pounds less. Power will likely come (at least initially) from the same 1.8-liter four and 3.5-liter V6 that power Lotus' sports cars, but driving all four wheels. A hybrid system could follow, and the finished product is likely to adopt a nameplate starting with the letter E – in the grand tradition of the Elise, Exige, Evora, Esprit, Europa, Elan, et al. According to Gales, "Our car will drive beautifully. It will be supple and comfortable but the emphasis will be on handling. It will be the lightest and fastest of its class on the track." This would be the first crossover Lotus would design, engineer and actually bring to market, but not, strictly speaking, the first time it has toyed with the idea. There was the APX concept (pictured here) it showcased in 2006 and the T5 that Proton essentially licensed Chinese automaker Youngman to build with Lotus' name on it. But the former was never put into production and the latter wasn't a proper Lotus. The design is currently being worked out before a prototype can be put together so that the joint venture can get the manufacturing license it needs from the Chinese government. So we're likely looking at another year or two before we see something solid. "Let's get the design right, then make a prototype," said Gales. "Let's make it beautiful and very light.

Lotus Emeya concludes winter testing, brings unique treats

Think of the Lotus Emeya as the sedan form of the Eletre SUV, transferring Lotus' newest brand values into a body style closer in spirit to the old Lotus. As the automaker marches toward production later this year, we've got a few more details on what's to come with the English foe of the Taycan competitor. Battery size is said to be 102 kWh; if that's accurate, that would be down slightly on the Eletre SUV's gross 112-kWh battery that provides a usable 109-kWh. Lotus says the sedan's range will be "broadly similar" to the Eletre, which is rated to go up to 373 miles on the WLTP cycle. The sedan, like its brother, is built on an 800-volt system capable of 350-kW fast-charging, and uses two motors to power both axles. A top-shelf Emeya R trim should pack the same power as the Eletre R, 905 horsepower and 726 pound-feet, the Emeya's lower profile and lighter weight taking a coupe of tenths off the Eletre's 2.95-second sprint to 60 miles per hour.  At least two wild specs separate the Emeya from the Eletre: A 55-inch augmented-reality head-up display. Lotus says the projection on the Electre is 29 inches. In addition to being "the largest and most advanced in any Lotus," it offers "a Snow Mode which turns the display blue, helping the driver to see the outline of the road more easily against a white background." Who needs an Apple Vision Pro, eh?  The sedan also fits an active rear spoiler that's four inches broader than the SUV's from front to back, at 11.7 inches compared to 7.7 inches. Adjusting the spoiler's angle on the SUV can produce up to 112.5 kilograms of downforce. The sedan's spoiler rings up a maximum of 215 kg of downforce at speed. The Emeya's top speed is an electronically capped 159 mph, six miles per hour below the SUV's, done to preserve battery health.  Lotus recently concluded a series of winter tests that are part of the company's three-year development testing across 15 countries, working out the Emeya in temps as low as negative 13 Fahrenheit and locking the car in a freezer at -40 F to gauge how its systems performed.  After going on sale in China, the Emeya heads to Europe and then to the U.S., so we shouldn't expect it until sometime next year, joined by the Evija hypercar. Car magazine said it saw a Lotus presentation that mentioned an MSRP of $100,000, almost identical to the base Porsche Taycan's U.S. MSRP.  Related Video: