2010 Lotus Evora S Coupe 2-door 3.5l Supercharged on 2040-cars

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Why Lotus thinks its luxury EV game plan will succeed globally

  Luxury sports car and EV maker Lotus completed its SPAC merger last week in the U.S. and its stock was publicly traded for the first time on Friday. It’s an interesting turn of events for the Geely-backed automaker now known as Lotus Tech given the uncertain EV market, but one that may prove an exception to the struggles of other pure-play EV makers. Trading under the ticker LOT on the Nasdaq, Lotus Tech will focus on the higher end of the EV market with its Eletre SUV and Emeya sedan, which will not only be offered in the US but also in Europe and, more importantly, China. “What is most important here is that we are definitely going to more markets at the same time through more models and through more stores,” said Lotus Tech CFO Alexious Lee to Yahoo Finance from the Nasdaq market site. By the end of the year Lotus will have four vehicles in production, three of them EVs. “These four models are currently available in Asia Pacific and part of it is also available in UK and EU,” Lee said. “We're having the new [Eletre] SUV model coming into the U.S. in the third quarter of this year, so different markets have different strategies and different product offerings and different conditions." Lotus is able to go to market in a number of territories due to the backing of its majority owner, Chinese auto giant Geely. But it also raised a considerable amount of money through its SPAC merger. Lotus Tech said it raised more than $880 million in pre-closing and PIPE financing commitments, with a targeted valuation on listing day of nearly $7 billion. Lotus Tech also had an interesting partner with its SPAC merging, combining with L Catterton Asia Acquisition Corp (LCAA), which is backed by French luxury conglomerate LVMH. Lotus Eletre in Solar Yellow View 11 Photos As Lotus targets the luxury segment with its vehicles — the Eletre and Emeya will be playing in the $80,000 to $150,000 ballpark — having a partner like LVMH, with its deep connections and insights into the luxury consumer, could be hugely beneficial. “Now what is more important here is Anish Melwani, who is the CEO for LVMH North America, will be on the board of Lotus Tech,” Lee said.

Lotus Elise, Exige recalled over oil line fire risk

Lotus is recalling 451 examples of the Elise and Exige from the 2007 and 2008 model years. The cars in question, built from December 1, 2006 to October 31, 2007 could be affected by an oil cooler line that detaches from its fitting. If the line comes loose it could release oil onto the engine and possibly start a fire, or onto a tire and potentially cause a crash.
A bulletin from the National Highway Traffic Safety Administration indicates the recall is expected to begin on March 4. Notified owners can take their cars to their dealers for repairs to the lateral oil cooler hose and hose fittings. You'll find the full release from the NHTSA below with more information.

Lotus Evora 400 arrives in December for $89,900

It's been three months to the day since Lotus revealed the new Evora 400. And if you've spent the intervening time pining and wondering just how much you'd need to set aside to put one in your driveway, you need wonder no longer. The British sports car manufacturer has just released pricing for the new-and-improved Evora 400, which will retail at Lotus showrooms in America for $89,900. Now that's a fair bit more than it was charging just last year for an Evora ($68,400) or the Evora S ($78,480), but for all that extra scratch, you get a lot more. The 400-horsepower model packs 55 more horses than the Evora S, weighs almost 50 pounds less, features a new diff, carbon-ceramic brakes, bodywork and interior, and benefits from returned electronics, suspension, gearbox, and more. (Buyers will also be able to opt for an automatic transmission, upgraded interior trim, appearance package, forged alloys and painted calipers, all at additional cost.) The result of all those upgrades – costly as they are – is a 0-60 time of just 4.1 seconds, a top speed of 186 miles per hour and a lap time around the company's test track at Hethel clocked at 1:32 – a full six seconds faster than the existing Evora S. If that sound enticing, North American deliveries are set to commence in December. Related Video: Show full PR text Lotus announces prices for Evora 400 · Prices start at GBP72,000 (UK) · High level of standard specification · Fastest and most powerful production Lotus ever · Deliveries from August 2015 Lotus Cars is delighted to announce the prices of the new Evora 400. The latest supercar from Lotus combines high performance with the legendary Lotus benchmark handling and is lighter, more efficient and dynamically better than ever, providing a purer driving experience. UK prices will start from GBP72,000 (for other markets, see table below). For this price the car benefits from a high level of standard specification including 370 mm composite two piece brake discs from AP Racing, a Limited Slip Differential, automatic air-conditioning and infotainment system including satellite navigation. In addition to this, the options list includes automatic transmission at GBP2,000, Alcantara or Leather trim upgrades at GBP2,500 and metallic paint at GBP900.