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Lotus Evija whirs onto Quail lawn to tempt 130 prospective customers

At last, we've met the Lotus Evija in its compact, electric-charged glory. The carbon-fiber-bodied electric supercar looks like liquid metal poured over some skeletal biologic form. The coupe represents the first all-new Lotus since the ten-year-old Evora went on sale, the first Lotus developed wholly under Geely ownership, the first in-house all-electric vehicle from Hethel, the first Lotus with a one-piece carbon fiber monocoque tub, and the first one Hethel HQ will send to the Nurburgring to break a lap record. Lotus announced that lap record tilt saying it should be "comfortably quicker" than the all-electric NIO EP9 road-legal EV that ran a 6:45. That has since been broken by the 6:05 figure Volkswagen achieved with its ID.R, a purpose-built electric race car. The 'Ring doesn't yet divide EV times into classes, so we'd still like to see Lotus go for outright honors. That is indeed unfair, but the Evija has the numbers to at least make a go of it. The four electric motors in the ID.R produce a combined 680 horsepower and 479 pound-feet of torque to move a car weighing 2,500 pounds. The Evija's 50 percent heavier at 3,700 pounds, but has almost triple the horses and more than double the torque, its two motors making a combined 2,000 horsepower and 1,254 pound-feet of torque. It does have active aerodynamics, including a moving rear wing, but it's still short a bunch of race aero, a giant front splitter, and a DRS button. No matter how the German caper turns out, we expect Lotus will be able to find homes for all the Evijas it offers for sale. Only 130 will be made, each one starting at around $2.1 million.

Lotus to layoff a quarter of its workforce

Lotus has issued a press release to day, wherein it indicates that a "need to both reshape its organisation and to reduce costs" may result in the loss of "up to 325" jobs. That's a fairly significant number of layoffs for any company, but considering that Lotus currently employs 1,215 people (per the company's bio in the same release), it could mean a full 25-percent of the automaker's workers could soon be sharpening their resumes.
CEO Jean-Marc Gales says in the statement that Lotus has "worked very hard to avoid the need to make this proposal," but admits that it is now "essential" to the future of the company. The chief indicates that post-restructuring, he expects Lotus to be a "leaner" and "more competitive" organization, one which - and we can all see a little silver lining here - is focused on "producing class-leading sports cars and innovative engineering."
The 325-job number appears to be soft at this point, with the statement indicating that some negotiation about which and how many posts will be cut is yet to come. Further, the company may "redeploy" some employees, and may even recruit new blood for "key roles," all with an eye toward running the strongest possible team going forward. Though, we imagine that the recruitment bit won't fly well for those employees getting the sack.

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.