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Lotus Emira V6 First Edition finally being delivered to customers

In July 2021, Lotus revealed the Emira, its final ICE-powered sports car before flipping to an all-electric lineup. By the time we got to drive it in December 2023, our Zac Palmer wrote, "you can’t spend $105,900 on a single car that would be more fun than the V6 First Edition I drove. There just isnÂ’t another option out there that drives like the Emira, putting it in a class of its own for the enthusiast who wants the most unfiltered experience possible." The problem for Emira buyers reading that — the ones sitting on reservations more than two years old — was that none of them had their cars. Last March, Gator Motorsports' franchise Indy Lotus in Indianapolis sent a letter to reservation holders explaining the holdup as U.S. certification, specifically certification by the California Air Resources Board (CARB). At the same time, CarBuzz reported that Emira V6 First Edition units destined for the U.S. would land here last summer but wouldn't be released to customers until between mid-October and mid-December. Except Lotus dealers then had to explain to buyers in January of this year that cars here were getting a software update, likely for certification purposes. The U.S. Environmental Protection Agency had given the Emira its blessing, but Lotus didn't want to deliver units that couldn't be registered in the 14 states that adhere to CARB mandates, so it held all of them (and perhaps prevented some car-flipping). At the end of last month, the Californians approved of what Lotus had done with its engine programming, freeing the Emira to head to good homes. At one point, Lotus planned to have cars here in time to get into the 2022 model year, now it's a 2024. On the Emira Forum, in a thread about USA and Canadian delivery that's grown to more than 500 pages, someone posted the CARB approval on March 2, page 461 of the thread. The first response from a forum member in Stage 4 of the Five Stages of Grief — mentioned just four posts earlier — was, "Is this legit? This isn't something you did as a joke on the forum?" It's no joke, other forum posters are reporting that they are receiving their cars. Nay, twas not a joke. What's also serious is a higher price for the eventual entry-level trim, the Emira First Edition powered by an AMG-sourced turbocharged 2.0-liter four-cylinder engine.

Lotus is building 60 extra light, extra aerodynamic Exige Cup 380s

Lotus is never done adding lightness and once again turned its attention to the Exige. Like so many other special Lotuses, this one, called the Exige Cup 380, makes the same 375 horsepower from its supercharged 3.5-liter V6. However, the weight savings is a significant 117 pounds compared with the 2,447-pound Exige Sport 380. This savings comes from the inclusion of many carbon-fiber parts including a one-piece rear hatch, side intakes, hood, front splitter, side sills, and seats, among others. Lotus also removed the gas struts for the hatch to save 2.2 pounds. And if that's not enough, you can save another 2.2 pounds by choosing the optional HVAC and air vent surrounds, and 22 pounds with an optional exhaust system. The Exige Cup 380 also produces significantly more downforce than the Sport, 43-percent more to be exact. That results in maximum downforce of about 441 pounds at the Cup 380's top speed of 175 mph. The car achieves this thanks to a revised front bumper and splitter, vents above the front wheels, more vents behind the rear wheels, and a new rear wing. Even the windshield wiper rests in a vertical position to aid aerodynamics. The Cup 380 doesn't just benefit from better aerodynamics and less weight. The rear tires are wider than the Sport 380 at 285 mm. The Cup 380 also has two-way adjustable shocks and adjustable front and rear anti-roll bars. Even the stability control can be adjusted to the driver's needs. The car is stopped by four-piston brake calipers at all four corners, and a standard steel roll bar protects the driver. If owners wish, they can also add an FIA-certified full roll cage. Lotus will only build 60 of these Exiges, and they're only available in Europe. They're not cheap either. In the UK, buyers will spend GBP83,000 in the UK and ˆ109,900 in Europe. That means this Exige would cost between $106,000 and $118,000, at current exchange rates. Related Video:

Renault paid GBP1 to buy back its F1 team

Running a Formula One team is anything but cheap and straightforward, but it didn't cost Renault much to reacquire the Lotus team from Genii Capital. In fact, according to the latest reports, the French automaker paid just GBP1 – less than a buck fifty – for the privilege. Still, the process was deeply complicated. The reason Renault was able to get it so cheap is because the team was deeply in debt, part of which Renault will now assume. Less than a year ago, the team was said to be nearly $200 million in the red, and just a few months ago Renault came to its rescue to pay a $4 million tax bill to the British government. Under the terms of the new deal, Renault will assume the debt that the team's previous owners had accrued, but will be spared the nearly $150 million which its stakeholders loaned to the team. The history of the outfit based in Enstone dates back to 1981 when it was founded as Toleman Motorsport. French fashion giant Benetton bought the team in 1985, which in turn sold it to Renault in 2000. A decade later, after two world championship titles, Renault began stepping back its involvement in the team and gradually transferred ownership to investment firm Genii Capital, which has run it ever since under the Lotus name that it secured from the automaker under contract until 2017. Unable to fund a competitive team, Genii has now sold the team back to Renault, but the financial intricacies of the deal are far from straightforward. To start with, Genii and its subsidiary Gravity Motorsports (the team's parent company) didn't hold all the shares in the operation, so it bought back over 6 million shares from Whiterock Alliance to add to its own 60 million shares. The vast majority of those shares were then transferred (for that princely sum of GBP1) to Gringy (UK) Ltd, the shell company that technically owned the team in its Benetton days. Gringy (a wholly owned subsidiary of Renault) will hold a 90-percent stake in the team, with the last 10 percent remaining in Genii's hands and those of its investors. In the process, the outfit will now rejoin the likes of Ferrari and Mercedes among the F1 teams developing their own powertrains. Related Video: News Source: Motorsport.comImage Credit: Dimitar Dilkoff/AFP/Getty Earnings/Financials Motorsports Lotus Renault F1 genii capital