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Lotus cars to be 'Made in China' at new Geely plant, according to documents

BEIJING/SHANGHAI — The Chinese owner of Lotus plans to start producing the British sports car brand in China for the first time with the opening of a new 9 billion yuan ($1.3 billion) factory in Wuhan city, company job advertisements and government documents showed. The previously unreported plans are Zhejiang Geely Holding Group's first move to shake up the British brand since its purchase of a majority stake in 2017. The move is in line with Geely's ambitions to build more up-market cars and throw off its reputation for copycat designs and shoddy quality. For Lotus, it could mean greater production volumes and new models such as SUVs to boost sales. "For Geely, going high-end can help it take more market share," said Alan Kang, Shanghai based analyst at LMC Automotive. "Geely needs to do that to better compete with global brands." Lotus cars are currently built in Norfolk, England. Geely and Lotus said in a joint statement that while Norfolk was Lotus's manufacturing home, a key part of the firm's strategy to revive the brand was expanding the brand's manufacturing footprint globally. "Details on additional locations and models will be confirmed in due course," the company said in an e-mail to Reuters. The planning authority of Hubei province, whose capital is Wuhan, last month approved Geely's plans for the plant. The factory will be able to manufacture 150,000 cars annually, according to a document posted on the authority's website. The Wuhan Development Zone, where the factory will be based, said in a statement posted on its website last month that production at the plant would include "Geely's Lotus project". The Wuhan Development Zone did not respond to Reuters' request for comment. The documents did not say when the plant would start operations. The facility is approved to build all-electric battery cars, electric hybrids as well as combustion engine cars like Lotuses. Job advertisements on Geely's website show the automaker is looking to fill at least 20 Wuhan-based roles for the Lotus project. LUXURY AMBITIONS While is not clear what portion of the new Chinese production line would be devoted to the British brand, greater production volumes would be consistent with Geely's stated ambition to grow the market for Lotus by broadening its line-up. Geely sold only 1,630 Lotuses globally in 2018. Lotus currently produces models such as the Evora and Elise.

The Lotus Evija is the company’s first all-electric hypercar

Internally known as the Type 130, the new Lotus Evija combines several firsts for the British company into one wild shape. First of all, it’s the companyÂ’s first in-house all-electric car – the Lotus chassis provided to the likes of Tesla for the first Roadster doesnÂ’t count. ItÂ’s also the companyÂ’s first hypercar, claiming an astonishing (and provisional) 1,973 horsepower. Perhaps more importantly, itÂ’s the first all-new car from the company since the Evora, and the first to be conceived entirely under the ownership of ChinaÂ’s Geely. Yup, thatÂ’s a lot of firsts. ItÂ’s not the first EV hypercar – itÂ’ll have competition from the likes of Rimac and the upcoming Pininfarina Battista, plus the next-gen Tesla Roadster assuming that does eventually hit the market – but itÂ’s definitely early on the scene. And just look at it – the styling is wild, incorporating some continuing Lotus themes – particularly around the greenhouse – but with an overall direction thatÂ’s much brasher than the companyÂ’s other products. The deep side sculpting resembles is complex and stylized, as are the rounded, narrow quadrangle taillights supported by a massive rear diffuser. The front is arguably the least distinctive and biggest departure for the company. The verticality of the headlamps seems like a blend of the Ferrari F8 Tributo and the old Lamborghini Gallardo, without really aping either. Look closely and it appears to be an evolution of the shape of the EvoraÂ’s lamps, but without that context fresh in your mind itÂ’ll appear more generic supercar than something uniquely Lotus. The bodywork has some neat party tricks. Active aerodynamics allow for an F1-style Drag Reduction System, and thereÂ’s a deployable rear spoiler. There are no fixed side-mirrors; little cameras deploy from the front fenders and another camera embedded in the rear of the roof provides a rear view. ItÂ’s also different. The extruded, bonded aluminum architecture weÂ’re familiar with from the Elise/Exige line and the similar but unique Evora are gone, replaced by a company-first one-piece carbon fiber monocoque tub. Lotus is targeting a curb weight of approximately 3,700 lbs, and the lightweight tub (just 284 lbs) contributes to that.  The battery is housed behind the seats, and feeds power to four individual motors, providing all-wheel drive and infinitely variable torque vectoring.

Renault will buy back Lotus F1 Team

Renault's relationship with Red Bull may be about to crumble, but the French automaker isn't calling it quits on Formula One altogether. Instead, Renault will cease being an engine supplier and instead acquire Lotus F1 to become a full-fledged manufacturer and team owner again. The long-anticipated deal will see Renault re-acquire the team currently known as Lotus F1 from present owner Genii Capital, an investment fund. Renault owned the team outright before selling it to Genii back in 2009. This move will see the Enstone outfit move back under Renault's roof – and hopefully get more resources than Genii could muster. Renault recently had to come to the team's rescue after an outstanding tax bill threatened to send it into bankruptcy. The deal will likely mean the end of the Lotus name in F1 once again, after the rights were hotly contested between this team and the now-departed Caterham outfit. The Enstone-based outfit will become Renault's principal team, just as Mercedes and Ferrari run their own teams and also supply engines to others. Over its various eras of ownership, the team has shown that it has what it takes to win, given the right drivers and resources. The question is whether Renault can get its engines up to speed again to catch up to its rivals. The partnership between Daimler and the Renault Nissan Alliance created speculation that the two could strike a deal in F1 as well that could see Renault running Mercedes engines in the future - just like the Lotus team currently does. F1 : SIGNATURE OF A LETTER OF INTENT BETWEEN RENAULT GROUP AND GRAVITY MOTORSPORTS S.A.R.L Renault Group and Gravity Motorsports S.a.r.l., an affiliate of Genii Capital SA, are pleased to announce the signature of a Letter of Intent regarding the potential acquisition by Renault of a controlling stake in Lotus F1 Team Ltd. The signature of this Letter of Intent marks Renault's first step towards the project of a Renault Formula 1 team from the 2016 racing season thereby extending 38 years of commitment of the brand to world's premier motorsport championship series. Renault Group and Gravity will work together in the coming weeks to eventually turn this initial undertaking into a definitive transaction provided all terms and conditions are met between them and other interested parties. Related Video: Featured Gallery Lotus Renault GP 2011 livery News Source: Renault Earnings/Financials Motorsports Lotus Renault F1 genii capital