1990 Lotus Esprit Stunning Flawless Condition on 2040-cars

Auto blog

Lotus names Jean-Marc Gales as new CEO

It's been about two years since DRB-Hicom took over Proton, and through it Lotus. One of its first courses of action was to fire the existing CEO, Dany Bahar, and proceed to scrap most if not all of his (arguably over-) ambitious plans. In his place they put one of their own - Aslam Farikullah - as Chief Operation Officer, but now the Malaysian-owned British automaker has attracted an industry heavyweight to lead it into the future.
That heavyweight is Jean-Marc Gales. The British- and German-educated Luxembourgian has spent the past couple of years running the European Association of Automotive Suppliers (CLEPA), but may be better known for his previous posting as CEO of PSA Peugeot Citroën between 2009 and 2012, during which time he introduced the Citroën DS line, amongst others, and increased the French automaker's sales. Before PSA he worked for Daimler, General Motors and Volkswagen.
As the new Chief Executive Officer of Group Lotus, Gales will face the difficult task of growing a business based on three models - the Elise, Exige and Evora - that date back to 1996, 2000 and 2009, respectively. Whether he'll push for new models like his predecessor did remains to be seen, but he'd be wise to learn from Bahar's mistakes and avoid overextending what has always been a relatively small automaker.

Why Lotus thinks its luxury EV game plan will succeed globally

  Luxury sports car and EV maker Lotus completed its SPAC merger last week in the U.S. and its stock was publicly traded for the first time on Friday. It’s an interesting turn of events for the Geely-backed automaker now known as Lotus Tech given the uncertain EV market, but one that may prove an exception to the struggles of other pure-play EV makers. Trading under the ticker LOT on the Nasdaq, Lotus Tech will focus on the higher end of the EV market with its Eletre SUV and Emeya sedan, which will not only be offered in the US but also in Europe and, more importantly, China. “What is most important here is that we are definitely going to more markets at the same time through more models and through more stores,” said Lotus Tech CFO Alexious Lee to Yahoo Finance from the Nasdaq market site. By the end of the year Lotus will have four vehicles in production, three of them EVs. “These four models are currently available in Asia Pacific and part of it is also available in UK and EU,” Lee said. “We're having the new [Eletre] SUV model coming into the U.S. in the third quarter of this year, so different markets have different strategies and different product offerings and different conditions." Lotus is able to go to market in a number of territories due to the backing of its majority owner, Chinese auto giant Geely. But it also raised a considerable amount of money through its SPAC merger. Lotus Tech said it raised more than $880 million in pre-closing and PIPE financing commitments, with a targeted valuation on listing day of nearly $7 billion. Lotus Tech also had an interesting partner with its SPAC merging, combining with L Catterton Asia Acquisition Corp (LCAA), which is backed by French luxury conglomerate LVMH. Lotus Eletre in Solar Yellow View 11 Photos As Lotus targets the luxury segment with its vehicles — the Eletre and Emeya will be playing in the $80,000 to $150,000 ballpark — having a partner like LVMH, with its deep connections and insights into the luxury consumer, could be hugely beneficial. “Now what is more important here is Anish Melwani, who is the CEO for LVMH North America, will be on the board of Lotus Tech,” Lee said.

The Stig bungees a Lotus F1 car in Durban

Remember a couple of months ago when a mischievous Stig broke into the Lotus racing headquarters in Enstone and made off with an F1 car? Well, now we know where he went with it.
In this humorous clip from Top Gear, the tamed racing driver in the white suit disembarks with Pastor Maldonado's Lotus-Renault E22 (not the E21 he took from the team's headquarters, eagle-eye viewers might notice) in Durban, South Africa, and takes it to Moses Mabhida Stadium for the Top Gear Festival. After having some fun on a dirt bike, a chrome Mustang drift car and a few other curiosities, he hooks it up to a bungee cord and jumps off a tower behind the wheel.
Now we're not quite convinced they actually did this and that it wasn't all CGI, but it's still worth a watch and a laugh.