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Watch Lotus F1 team careen through a mall in Renault Twizy EVs

The Lotus Formula One Team is sticking with drivers Romain Grosjean and Pastor Maldonado next year, but it's dropping Renault as an engine supplier in favor of Mercedes power. The 2014 F1 season is barely over, though, and that mean's there still a little time left to put those marketing dollars to work, while still having a little fun, too. To that, Renault has put Grosjean and Maldonado behind the wheel of two Twizy electric cars and unleashed them on The Dubai Mall for an ad for the little buggies. The place is one of the world's largest shopping centers, and it also houses an aquarium, an ice skating rink and even a dinosaur. It's a big place, and unsurprisingly, the two F1 pilots drift the little buggies with ease around every part of the complex. Grosjean even gets some time on the ice. Check out the ad for the quirky EV in the video above. Related Gallery Paris 2010: Renault Twizy View 15 Photos News Source: Renault Middle East via YouTubeImage Credit: Related images copyright 2014 Drew Phillips / AOL Marketing/Advertising Motorsports Lotus Renault Coupe Electric Videos renault twizy Romain Grosjean lotus f1 team pastor maldonado

Lotus will go public via SPAC with $5.4 billion valuation

Lotus Technology, the electric-car maker owned by China’s Zhejiang Geely Holding Group Co., agreed to merge with a blank-check company in a transaction that values the combined entity at about $5.4 billion. L Catterton Asia Acquisition Corp. will combine with the EV making subsidiary of the British carmaking group that Geely acquired back in 2017, the two said in a statement Tuesday. The special purpose acquisition companyÂ’s sponsor has ties to Bernard Arnault, the worldÂ’s richest man. Lotus Tech has been looking to go public since at least early last year. Management may have been encouraged by another luxury auto brandÂ’s recent listing: Porsche AG pulled off EuropeÂ’s largest initial public offering in a decade when it debuted in Frankfurt in September. A week later, Porsche overtook Volkswagen AG as EuropeÂ’s most valuable automaker. Rather than go the IPO route, Lotus Tech will merge with a SPAC whose sponsor combined with the private equity operations of ArnaultÂ’s luxury-goods powerhouse LVMH in 2016. LVMH is a passive minority investor in L Catterton, according to a spokeswoman. Arnault overtook Tesla Inc. Chief Executive Officer Elon Musk as the worldÂ’s richest man last month — the first time a European claimed the top spot on the Bloomberg Billionaires Index. While Group Lotus is tiny compared to Tesla, Geely has been steering it away from combustion engines and has several all-electric models planned for the coming years. Lotus Tech sees itself as a competitor to the likes of Ferrari and Aston Martin, and will get a jump on the first electric models from those brands. Lotus unveiled its all-electric Eletre sport utility vehicle last year and plans to launch a rival to PorscheÂ’s popular Taycan EV in 2023. Geely and other owners are expected to retain an 89.7% shareholding in Lotus Tech after the SPAC merger. GeelyÂ’s billionaire owner Li Shufu also controls Swedish carmaker Volvo Car AB and owns stakes in GermanyÂ’s Mercedes-Benz Group AG and the UKÂ’s Aston Martin Lagonda Global Holdings Plc. Deutsche Bank AG advised Lotus Tech on the deal, while Credit Suisse Group AG acted as capital markets adviser to the SPAC. Related video: Featured Gallery Lotus Eletre View 25 Photos Earnings/Financials Green Lotus Electric Luxury Performance

Lotus Eletre electric SUV reveal: Tune in today at 2:30 p.m Eastern

The upcoming electric Lotus SUV formerly known as the Type 132 officially has a name. It will be called the Lotus Eletre, and the vehicle’s full reveal is today, Tuesday, March 29. For those curious, Lotus says that Eletre means “coming to life” in some Eastern European languages. If you want to pronounce it properly, Lotus provides the phonetic spelling: “El-etra.” Basically, the "e" at the end is to be pronounced as an "a." Beyond the name announcement, Lotus doesnÂ’t have anything extra to share with us today. The name itself was revealed in a dramatic fashion, as a specially-made yellow cube containing the car was piloted up and down the River Thames in central London. Boats and cars being in the same news story as of late havenÂ’t always been for good reasons, but thankfully, this one seems to have gone just fine. If you want to watch the reveal live, make sure to tune in here at 2:30 p.m. ET Tuesday. WeÂ’ll have the live stream in this post waiting to start, so you can check back in right here at reveal time.