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Lotus Exige Sport 350 adds even more lightness

Lotus is constantly looking for more weight to cut out of models like the Elise and Exige, as light as they already are. The company somehow found 112 lbs to carve out of the Exige, and the result is the new Sport 350 you see here. Following the reveal of the Elise Sport and Elise Sport 220, the new Exige Sport 350 weighs just 2,480 pounds. That's 112 pounds less than the existing featherlike Exige S, with its aluminum chassis and composite bodywork. To cut weight where there was so little to be cut, the engineers in Hethel fitted a new louvered tailgate, battery, engine mounts, center console, HVAC piping, and insulation materials. All of those new components are lighter than the ones they replace, fulfilling company founder Colin Chapman's ethos of "adding lightness." The 3.5-liter supercharged V6 carries over with the same output of 345 horsepower and 295 pound-feet of torque. But with less weight to move, the Exige Sport 350 will now reach 60 from a standstill in just 3.7 seconds, topping out at 170 miles per hour. With it, Lotus also retuned the suspension and the six-speed manual gearbox, which now features a deliciously exposed linkage. A six-speed automatic is also available, adding 12 lbs to the curb weight and altering performance only negligibly. Deliveries will begin in February across Europe before reaching markets overseas in March (around the same time that the Exige Sport 350 Roadster will follow). Unfortunately North America isn't one of those markets, since both the Elise and Exige were withdrawn from these shores in 2011. Hope springs eternal, however, that the next generation will reach us sometime after 2020. New Lotus Exige Sport 350 – Light is Right · 51 kg lighter than previous Exige S · 345 hp and in excess of 300 hp/tonne · 0-60 mph in 3.7 Seconds and top speed of 170 mph · Heritage Tartan interior and new colour and trim options As the ultimate incarnation of the world famous Exige, Lotus has revealed the Sport 350, the latest version of the class-leading and award winning sports car, that's lighter and faster than ever before. The new Exige Sport 350 is the next model in the range to mark the reintroduction of the renowned 'Sport' naming designation. It joins the recently announced Lotus Elise Sport and Elise Sport 220 – delivering a lighter and even more performance-focused driving experience.

Lotus to move immediately forward with new variants rather than new models

It took 1.5 years, but a DRB-Hicom managing director told Malaysia's Business Times that the company has "cleaned up" the situation at Lotus from its finances to its marketing and image. The clean-up job we're most interested in, the product portfolio, will be demonstrated by financial investment in a three-year program of "variants based on existing products - variants with improved technology, improved performance."
You'll notice mention of the word "variants" three times but no mention of the phrase "new models." We knew that with the death of the five-new-model turnaround plan dreamed up by ex-Lotus CEO Dany Bahar DRB-Hicom said there'd only be three distinct lines - which is the current number - but during Lotus' trouble-plagued 2012 it sold just 80 cars all year, and for a tense spell it really wasn't clear if DRB-Hicom would commit to even keeping Lotus alive, much less investing in it.
It's not clear how much is being put into in the three-year program of offshoot models like the 345-horsepower Exige S Roadster (pictured), but it might be fair to say this is where Lotus' revival really begins, and does so with baby steps. Autocar reports that DRB-Hicom has already put 100 million pounds into the English carmaker, and as its issues were worked through Lotus has sold almost as many cars in the first five months of this year as it did all of last. That has not only convinced the Malaysian minders to throw more money its way, but the UK's business secretary has also approved a 10-million-pound investment into Lotus through the Regional Growth Facility program.

Lotus F1 team $186 million in debt

The Lotus F1 team has fallen on some hard times. Majority-owned by investment firm Genii Capital and having little to do with the British automaker with which it shares its name, the Enstone-based outfit has been widely reported to be in serious financial trouble. The extent of those difficulties were until now unknown, but a new report from Germany's Auto Motor und Sport reveals that the team is in the red to the tune of £114 million - equivalent to $186 million at today's conversion rates.
The lack in cashflow is widely believed to have been the impetus for Kimi Raikkonen's departure from the team in order to return to cash-rich Ferrari, and was one of the major factors in selecting Pastor Maldonado to replace him instead of a more proven and accomplished driver of Raikkonen's caliber. Maldonado brings with him major sponsorship funds from Venezuelan state oil company PDVSA. In speaking with the German publication, however, Lotus F1 chairman (and Genii co-founder) Gerald Lopez revealed that the lion's share of the team's debt - £80 million or $130 million - is with Genii Capital itself, a negative balance that isn't likely to affect the team's day to day. That leaves about $56 million which the team owes to outside parties, including Raikkonen, who has yet to receive the full pay he was contracted for.
The team has opted to sit out the first test session of the Formula One season at Jerez. Its 2014 chassis isn't ready and, given the relatively cold temperatures at this point in the year, the team wouldn't expect to learn much about tire performance and degradation. As far as the new engine goes, Lopez says that any knowledge gleaned by Red Bull, Toro Rosso and Caterham at the test session will ultimately be shared with Renault and through it back to Lotus as well. Lotus engineers helped develop the new KERS system with Renault regardless, so the team already has the energy-recovery data it needs. The team will instead prepare for the second test session in Bahrain, by which point it aims to have its new car ready to kick off the season. Lopez says that it has secured the funding to offset its costs for the season ahead, and that it is working to pay down its debt.