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Renault will buy back Lotus F1 Team

Renault's relationship with Red Bull may be about to crumble, but the French automaker isn't calling it quits on Formula One altogether. Instead, Renault will cease being an engine supplier and instead acquire Lotus F1 to become a full-fledged manufacturer and team owner again. The long-anticipated deal will see Renault re-acquire the team currently known as Lotus F1 from present owner Genii Capital, an investment fund. Renault owned the team outright before selling it to Genii back in 2009. This move will see the Enstone outfit move back under Renault's roof – and hopefully get more resources than Genii could muster. Renault recently had to come to the team's rescue after an outstanding tax bill threatened to send it into bankruptcy. The deal will likely mean the end of the Lotus name in F1 once again, after the rights were hotly contested between this team and the now-departed Caterham outfit. The Enstone-based outfit will become Renault's principal team, just as Mercedes and Ferrari run their own teams and also supply engines to others. Over its various eras of ownership, the team has shown that it has what it takes to win, given the right drivers and resources. The question is whether Renault can get its engines up to speed again to catch up to its rivals. The partnership between Daimler and the Renault Nissan Alliance created speculation that the two could strike a deal in F1 as well that could see Renault running Mercedes engines in the future - just like the Lotus team currently does. F1 : SIGNATURE OF A LETTER OF INTENT BETWEEN RENAULT GROUP AND GRAVITY MOTORSPORTS S.A.R.L Renault Group and Gravity Motorsports S.a.r.l., an affiliate of Genii Capital SA, are pleased to announce the signature of a Letter of Intent regarding the potential acquisition by Renault of a controlling stake in Lotus F1 Team Ltd. The signature of this Letter of Intent marks Renault's first step towards the project of a Renault Formula 1 team from the 2016 racing season thereby extending 38 years of commitment of the brand to world's premier motorsport championship series. Renault Group and Gravity will work together in the coming weeks to eventually turn this initial undertaking into a definitive transaction provided all terms and conditions are met between them and other interested parties. Related Video: Featured Gallery Lotus Renault GP 2011 livery News Source: Renault Earnings/Financials Motorsports Lotus Renault F1 genii capital

Lotus cars to be 'Made in China' at new Geely plant, according to documents

BEIJING/SHANGHAI — The Chinese owner of Lotus plans to start producing the British sports car brand in China for the first time with the opening of a new 9 billion yuan ($1.3 billion) factory in Wuhan city, company job advertisements and government documents showed. The previously unreported plans are Zhejiang Geely Holding Group's first move to shake up the British brand since its purchase of a majority stake in 2017. The move is in line with Geely's ambitions to build more up-market cars and throw off its reputation for copycat designs and shoddy quality. For Lotus, it could mean greater production volumes and new models such as SUVs to boost sales. "For Geely, going high-end can help it take more market share," said Alan Kang, Shanghai based analyst at LMC Automotive. "Geely needs to do that to better compete with global brands." Lotus cars are currently built in Norfolk, England. Geely and Lotus said in a joint statement that while Norfolk was Lotus's manufacturing home, a key part of the firm's strategy to revive the brand was expanding the brand's manufacturing footprint globally. "Details on additional locations and models will be confirmed in due course," the company said in an e-mail to Reuters. The planning authority of Hubei province, whose capital is Wuhan, last month approved Geely's plans for the plant. The factory will be able to manufacture 150,000 cars annually, according to a document posted on the authority's website. The Wuhan Development Zone, where the factory will be based, said in a statement posted on its website last month that production at the plant would include "Geely's Lotus project". The Wuhan Development Zone did not respond to Reuters' request for comment. The documents did not say when the plant would start operations. The facility is approved to build all-electric battery cars, electric hybrids as well as combustion engine cars like Lotuses. Job advertisements on Geely's website show the automaker is looking to fill at least 20 Wuhan-based roles for the Lotus project. LUXURY AMBITIONS While is not clear what portion of the new Chinese production line would be devoted to the British brand, greater production volumes would be consistent with Geely's stated ambition to grow the market for Lotus by broadening its line-up. Geely sold only 1,630 Lotuses globally in 2018. Lotus currently produces models such as the Evora and Elise.

This Lotus Evora 410 is a custom tribute to the original Esprit

We love the Lotus Evora, whether it's in the current 400 trim or new 410 trim, and now an enthusiast has ordered up perhaps the coolest livery. It's an Evora 410 in an Esprit tribute scheme. And it isn't modeled after just any first-generation Esprit, but rather the car featured in the James Bond flick, The Spy Who Loved Me. The car is a one-off commissioned by a customer through the Lotus Exclusive program, which offers buyers the opportunity to have the car customized with special paint, graphics, body work, and interiors. In the case of this particular Evora 410, the car has a white paint job and features a bumper and blacked-out grille. Extending from the top of the grille is a black stripe that bisects the body. These cues represent the black bumper and stripes of the Esprit. Another nice touch is the Evora name on the panels just aft of the side windows. They've been written in the same font as the classic Esprit. Lotus also points out that the bare carbon-fiber engine cover is meant to look a bit like the glass hatch of the original car. They're all simple, subtle touches, but they come together to create a classy and convincing tribute. Inside, things only get better. The upholstery features Tartan inserts that were popular and common on '70s sports cars. The shift knob is also now made from wood. They're joined by a heaping helping of black Alcantara and red stitching. Mechanically, this Evora 410 is effectively unchanged from the standard model. But as we said, that's fine since the standard model, with its 410-horsepower supercharged V6, is excellent. It should be noted though that, being a standard 410, it does not have the ability to travel underwater. As mentioned at the top, this car is presently a one-off built for a customer using Lotus Exclusive. So don't expect to start seeing these at dealer lots. However, you probably could still order a similar car through Lotus Exclusive. Or you could use the program to customize your Evora 410 some other way, say in black and gold like the John Player Special Lotus F1 cars, or maybe the company's green and yellow racing colors. All we're saying is, as cool as this is, don't let that restrict you from trying something new. Related Video: