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European commission investigating F1 finances and anti-competitive accusations

The Kingdom of Formula One reminds us of renaissance Florence - ruled by a singular chieftan behind a mask of representative involvement, rife with spectacularly convoluted machinations, awash in innovations that help define our world and far-flung, vindictive misery. If we found out Bernie Ecclestone's real last name was de Medici, well, it would explain a lot. Now after a bit of back-and-forth, the European Commission (EC) has taken aim at the kingdom, investigating whether F1 is anti-competitive and if the FIA has abused its antitrust agreement. The reason for EC scrutiny is that a British member of the European Parliament who represents an area in southwest England, Anneliese Dodds, has fielded complaints from engineering companies in her constituency that recent moves in F1 have put them out of business. She wrote to the EC to question why the FIA now has a stake in F1 when it signed an agreement in 2001 to be solely a governing body and abdicate any stakeholding in the sport. She also questioned the F1 Strategy Group, a group of the six top teams in F1 that makes decisions about the direction of the sport; she says that the Strategy Group not only appears to be a case of the F1 shirking its rule-making duty, it has resulted in unfair treatment of the small teams that aren't in the group. Dodds has a bit of a point. In 2001, the FIA sold F1's commercial rights to Ecclestone for 100 years for a sum of $313.7 million. That was done to placate European regulators who insisted that "the role of FIA will be limited to that of a sports regulator, with no commercial conflicts of interest." Although the rights are ultimately owned by the FIA and bring in a $10M fee every year from Formula One, those rights bring in $1.6 billion each year to Formula One Management (FOM), the company that owns F1. When Ecclestone was trying to get the new Concorde Agreement signed in 2013 that governs the running of the sport, the FIA wouldn't sign, saying it wanted F1 to share a larger slice of its revenue – the FIA has been losing money for years, see. To the get the FIA to sign, Ecclestone sold it a one-percent stake in F1 for $460,000 and gave the FIA a $5M signing 'bonus;' whenever F1 has its IPO, that stake is estimated to be worth about $120 million - not a bad return. Yet, according to the aforementioned 2001 agreement, the FIA can't have that equity stake.

Lotus chief promises upcoming SUV will be true to brand

Lotus isn't the first sports car manufacturer getting into the crossover game. It's just the latest, and perhaps most surprising. That's because the British automaker made its name by keeping things as light as possible, and SUVs are anything but. Still, the company's chief executive is adamant that the crossover will be very light... and very Lotus. Speaking with TopGear.com, Lotus CEO Jean-Marc Gales asserted, "If Colin Chapman was alive I believe he would have done" a crossover. That's a pretty bold claim made in the name of the man known for his featherweight sports and racing cars, but Gales may not just be blowing hot air. "It will be the size of a Porsche Macan but only 1600kg, and will be the most agile and fastest of that class on a track," Gales told TG. "It's logical for us to make one in the Macan segment - the rest are all two tons, even a BMW X3. They take a normal car platform with big tires and brakes and transmission. We will use a four-cylinder engine." Keeping it light will be a vital part of the equation for Lotus, but it won't be all. It'll also have to bring up the quality, because quirks that owners might forgive in a sports car might not be tolerated to the same extent in a more mainstream product. Fortunately, Gales has been working on that ever since he took charge of the company just last year. He'll have that much more time to get it right by the time the crossover hits the Chinese market in 2019 or 2020. The vehicle is being designed principally for that market, and will be built locally. The design and engineering work is being carried out, however, at the company's headquarters in Hethel, England. Two designs are reportedly being considered, each with signature Lotus design traits to convey the image of light weight, with a profile reminiscent of the Elite four-seater from the 1970s. If the model proves a success in China, it could make its way back to the UK and Europe, though North American availability remains a question mark, and Lotus spokespeople have been cagey at best about plans to expand their US offerings. Gales also told TG that the crossover will end up only helping the company's sports car offerings, not hurting them. Increasing its quality will be one part, but developing more robust components (like air conditioning systems) will be another. At very least, it will help Lotus stay profitable and fund future sports car projects that may not be possible based on their own revenues alone.

Lotus Evora Sport 410 will come to North America this year

Just a year after debuting the 400-horsepower Evora 400, Lotus now reveals the Evora Sport 410, which sharpens the coupe even more. As the name suggests, power creeps up to 410 hp, but the more impressive change is the 154-pound drop in weight. Like the 400, the new model is even on the way to the US. "A specific North American version of the Evora Sport 410 will be announced later in 2016 along with the price," Alastair Florance, Lotus Group PR Manager, told Autoblog. We hope it's as light here as in the rest of the world. The Evora Sport 410's extra power and fewer pounds translate to improved performance. The run to 60 miles per hour now takes 3.9 seconds, versus 4.1 seconds for the Evora 400. The top speed remains the same at 186 mph. The latest model is also three seconds per lap faster around Lotus' Hethel test track compared to the 400. Lots of new carbon fiber parts are the key to the significant weight loss, which takes the coupe down to 2,921 pounds. The front splitter, roof, tailgate, rear diffuser, sport seats, and front access panel are now made from the lightweight material. Inside, there are single-piece door panels, which no longer have armrests or stowage pockets. Lotus plans to build 150 Evora Sport 410s a year, but it's not clear whether that figure includes the North American specific model. Prices in the UK start at the equivalent 79,900 pounds ($112,000 at current exchange rates). We don't yet know US numbers, but the Evora 400 sells for $89,900 here. You can assume a higher cost for this model's greater performance. Lightening strikes again: The Lotus Evora Sport 410 • 0-60 mph in 3.9 secs and a top speed of 186 mph • 70 kg slashed from the weight of the Evora 400 • Comprehensive carbon fibre package as standard • Increased power, reduced mass, sharper handling • Total production limited to one-hundred and fifty vehicles per year In a move that should surprise no one, Lotus has raised the bar once again by lightening the Evora in order to develop the sensational Evora Sport 410. Following on from the recently announced Elise Cup 250, and the Exige Sport 350, Lotus' famous Lightweight Laboratory has been hard at work cutting the weight of the Evora 400 by a massive 70kg. With a host of high-performance carbon fibre components as standard, and sharing the 410 hp supercharged engine with the track-bred 3-Eleven, the Lotus Evora Sport 410 clocks 0-60 in 3.9 seconds on its way to a top speed of 186mph.