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Lotus CEO Jean-Marc Gales abruptly quits

Jean-Marc Gales is out as CEO at sports car maker Lotus after nearly four years and a track record of turning the company from years of financial losses to a small profit. He'll be replaced by Feng Qingfeng, vice president and chief technical officer of China's Geely Auto Group, who joined the company's board after Geely acquired a majority ownership stake a year ago. Gales will continue as chief strategic advisor to Lotus Chairman Daniel Donghui Li. "Jean-Marc has stabilized and turned Lotus to profitability for the first time in the iconic brand's history, with new industry-leading products and unique business models since joining the company in 2014," Daniel, who is also Lotus' chief financial officer, said in a statement. "Lotus is poised for the next phase of growth under Feng Qingfeng's leadership, where its expertise in lightweight materials and sports car engineering will form part of the wider expansion of Geely's automotive portfolio." Gales told Autocar he was leaving for "personal reasons" and said it was "time to move on." He will head up JD Classics, a British dealer and restorer of classic cars. Gales praised his successor, saying Feng could "unlock the synergies" between Geely stablemates Lotus, Volvo, Polestar and Chinese brand Lynk & Co. Lotus under Gales had been working on updating its aging portfolio of cars — the Elise, the Exige and the Evora — with plans to first update the Elise by 2020. Earlier this year came word that Gales had green-lighted two new sports cars, to be announced later this year and produced in 2020, and an SUV about the size of the Porsche Macan and possibly based on Volvo's SPA platform, which underpins the XC60 and XC90. Lotus under Gales saw sales increase 10 percent in 2017 to about 1,600 sports cars. Related Video:

Next Lotus Elise to draw from its roots

Recently-appointed Lotus CEO Jean-Marc Gales told Autocar that work on the new Lotus Elise, which is coming in 2020, is already underway, and thanks to growing sales, the automaker is set to make a profit for the first time in 20 years. Gales also dropped some details about the new sports cars' design philosophy and underpinnings. According to the report, the new Elise will utilize the same aluminum chassis technology found in the original Elise and won't bear any resemblance to the 2010 Elise concept. Instead, the upcoming vehicle will uphold its roots with a lightweight design that emphasizes driver involvement at an affordable price. The new Elise is rumored to weigh in at roughly 1,984 pounds, almost 384 pounds more than the original Elise. In order to meet US crash ratings, the Elise will most likely be wider, but have the same length as the current model. Power will probably come from a Toyota unit producing between 134 horsepower and 245 horsepower. The Elise is expected to come to the US where it will be offered with a manual and automatic transmission, which will both come from Toyota as well. Gales claims Lotus has more orders now than in any year in the last 10 years, with the US being one of the automaker's most important markets. Related Video:

Lotus bids farewell to the Elise and the Exige with Final Edition models

Lotus will put the Elise, the Exige, and the Evora out to pasture later in 2021 to make room for a new model that internally is being called Type 131. Before it embarks on this major lineup overhaul, the firm will send off the Elise and the Exige — two of its best-known and longest-running models — with a limited Final Edition. Fittingly, the Final Edition models represent the ultimate evolution of the Elise and the Exige, nameplates released 25 and 21 years ago, respectively. Lotus added power and, somewhat surprisingly, equipment without straying from the famous "light is right" philosophy that shaped both cars. Collectors have two variants of the Elise (Sport 240 and Cup 250) and three of the Exige (Sport 390, Sport 420, and Cup 430) to choose from. Stepping inside either Final Edition version of the Elise reveals a thin-film transistor (TFT) instrument cluster that can be configured with regular gauges or a racecar-like display, depending on whether motorists plan to hit the road or the track. Lotus also redesigned the steering wheel to give taller drivers more space. New upholstery and stitching patterns round out the major updates, and every Final Edition wears a specific metal plaque. Outside, the changes include new additions to the palette, including Azure Blue, which was one of the launch colors when the Elise was presented to the press in 1996. Racing Green, the hue worn by the model when it made its global debut at the 1995 edition of the Frankfurt auto show, makes a comeback as well. If 2,032 pounds is too heavy, Lotus offers optional parts (like carbon fiber panels) that shed 53 pounds. Power for the Elise still comes from a supercharged, 1.8-liter four-cylinder engine mounted directly behind the passenger compartment. It delivers 240 horsepower (23 more than stock) and 180 pound-feet of torque, figures that give the roadster a 4.1-second zero-to-60-mph time. Selecting the Cup model brings a full body kit that generates 145 pounds of downforce at 100 mph and 341 pounds at the Elise's 154-mph top speed. Like the Elise, the Exige range receives Final Edition-specific paint colors, decals, and other exterior accents. Inside, it's a similar story: Lotus added a TFT screen and a new steering wheel, among other updated parts. Instead of a four-cylinder, the Exige packs a meaner punch thanks to a supercharged, 3.5-liter V6 tuned to put 397 horsepower (a 47-horse increase) and 310 pound-feet of torque under the driver's right foot.