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Lotus hops into Extreme E with Jenson Button ahead of first race weekend

The Extreme E racing series is filling out with a host of interesting names, and Lotus is the latest manufacturer to join the fray. Lotus is hopping in as technical partner to the Jenson Button Extreme E team, making it quite the British powerhouse. A single photo of the rally vehicle is above with a simple JBXE and Lotus livery. Seeing Lotus hop into electric racing makes sense given that it will be pushing the Evija hypercar out the door soon. The company says it will be leveraging the experience it gained in development of that car to help it succeed on the motorsports side. “We are on the cusp of an exciting new era of electrified motorsport, and weÂ’re delighted to support the JBXE team as Technical Partner,” says Matt Windle, managing director of Lotus Cars. “The complex technicalities of EV racing present a fascinating challenge, and using our learnings from more than a decade of electrifying sports cars – most recently with the Lotus Evija hypercar – we can bring valuable knowledge to the team.” Jenson Button is acting as both the team owner and driver of the car in the Extreme E series. Other notable car companies hopping into the series include GMC (a Hummer partnership), Fisker, Hispano Suiza and Cupra. Other racing outfits are also hopping on without the support of major car manufacturers. The field has just nine teams right now, but the slow trickle continues with promising entries. This latest development with Lotus and Jenson Button is just another feather in the seriesÂ’ cap. "Lotus is a great British brand that is inextricably linked to motorsport, so we are delighted to welcome Lotus Engineering to JBXE,” Button says. “Extreme E is a unique and exciting formula, full of 'world firsts' and challenges, and to announce that a brand such as Lotus Engineering is coming on this journey with us is a proud moment for myself and the team. We are very excited about our new technical partnership and canÂ’t wait to show what we can do in the first race this weekend.” That first race — termed the “Desert X Prix” — will take place in Saudi Arabia this weekend. ItÂ’s airing on Fox Sports in the U.S. The second race is nearly two months after this upcoming one and will take place in Senegal.

Lotus next F1 team to collapse?

With the big post-season game of musical chairs finally over, the FIA recently released the final entry list for the 2015 Formula One World Championship. And while most of it is exactly as we've reported along the way (with Sebastian Vettel switching to Ferrari and Fernando Alonso moving to McLaren), the list does have a couple of small surprises. Reigning champ Lewis Hamilton, for example, has opted to race under his own Number 44 instead of the Number 1 to which he is entitled, but it's the asterisks that are raising some eyebrows. Both the Caterham and Marussia teams (the latter listed as Manor Grand Prix Racing Ltd, the name of the racing outfit that technically owns the entry slot) are listed as "subject to confirmation," and while Caterham (unlike the liquidating Marussia team) is still fighting to recover in time for next season, its tentative listing comes as no big surprise. What is a surprise, however, is the inclusion of the Lotus F1 Team with the same caveat, prompting speculation that the Enstone-based outfit might not make the grid next year. Those schooled in F1 history will know that the Lotus team of today shares little in common with the British sports car manufacturer and engineering consultancy of the same name, or with the historic F1 team that previously raced under that banner. It started out as Toleman (the team with which Ayrton Senna got his start) before being bought out by Benetton (where Michael Schumacher won his first two World Champion titles). It was then taken over by Renault (where Alonso won his two titles) before Genii Capital took over and fostered a relationship with Lotus that allowed it to use the name. In a final breaking of ties with Renault, the team is switching to Mercedes power for next season. The Enstone team has struggled recently, however. From the title-winning operation it once was, Lotus dropped down to eighth place in the 2014 Championship, failing to land on the podium (let alone win a race) even once this season, suffering a dozen DNFs out of nineteen grands prix. Without factory backing, the team has struggled financially as well, and without an injection of funds, it could drop off the entry list altogether.

The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.