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Lotus Emeya 'hyper-GT' teased before September 7 debut

The Lotus Type 130 became the battery-electric, 1,972-horsepower Evija coupe. After an ICE diversion for the Type 131 to become the Emira, the Type 132 became the battery-electric Eletre "hyper-SUV." The Type 133 four-door is nearly upon us, and we now know its name will be the Emeya. This corrects the error of thinking the sedan will be called the Envya, based on Lotus filing to trademark that name. A brief Emeya teaser for the "hyper-GT" before a debut September 7 announces a challenger to EVs like the Porsche Taycan, spicier variants of the Lucid Air, the Tesla Model S Plaid, and less obviously, the Polestar 5 from the also-Geely-owned sibling brand.  Naturally, the teaser offers just a small taste of what's ahead. We see a quartet of thin, hockey-stick LED headlights, finally exposed after Lotus hid the upper lights behind camouflage on prototypes. There's a full-width LED light bar in back, underneath the active spoiler at the base of the rear window. And a brief moment 18 seconds into the video shows a large front brake caliper in yellow, painted with the automaker's name and the words "Carbon Ceramic."    The Emeya will be based on the same internal package as the Eletre. If the sedan gets two output ratings like the SUV, the template indicates baseline performance from a dual-motor powertrain of around 595 or 893 horsepower, and battery packs of either 92 kWh or 120. European range estimates for the SUV come in at 373 miles for the less powerful S trim, 304 miles for the stouter R. With the sedan having less of a battle to fight against the wind, we'd expect those spec-sheet numbers to improve. Practical use could tell a different story, engineers saying they tuned the Emeya to be a driver's car and benchmarked the Taycan. The feature list should include an 800-volt architecture and fast charging up to 350 kW, all-wheel drive, rear-wheel steering, active roll control, and the Eletre's active front intake shutters. Figured to be less than two inches longer than a Taycan, spy shots from last year showed the same minimalist driving space as the Eletre, but a dedicated four-seat interior. That extended center console could have been part of an option package, though. The SUV isn't making it to the U.S. until next year. We figure the sedan should arrive here afterward, likely for the 2025 model year. We'll know more on September 7.  Video Green Lotus Electric Future Vehicles Luxury Performance Sedan

Renault paid GBP1 to buy back its F1 team

Running a Formula One team is anything but cheap and straightforward, but it didn't cost Renault much to reacquire the Lotus team from Genii Capital. In fact, according to the latest reports, the French automaker paid just GBP1 – less than a buck fifty – for the privilege. Still, the process was deeply complicated. The reason Renault was able to get it so cheap is because the team was deeply in debt, part of which Renault will now assume. Less than a year ago, the team was said to be nearly $200 million in the red, and just a few months ago Renault came to its rescue to pay a $4 million tax bill to the British government. Under the terms of the new deal, Renault will assume the debt that the team's previous owners had accrued, but will be spared the nearly $150 million which its stakeholders loaned to the team. The history of the outfit based in Enstone dates back to 1981 when it was founded as Toleman Motorsport. French fashion giant Benetton bought the team in 1985, which in turn sold it to Renault in 2000. A decade later, after two world championship titles, Renault began stepping back its involvement in the team and gradually transferred ownership to investment firm Genii Capital, which has run it ever since under the Lotus name that it secured from the automaker under contract until 2017. Unable to fund a competitive team, Genii has now sold the team back to Renault, but the financial intricacies of the deal are far from straightforward. To start with, Genii and its subsidiary Gravity Motorsports (the team's parent company) didn't hold all the shares in the operation, so it bought back over 6 million shares from Whiterock Alliance to add to its own 60 million shares. The vast majority of those shares were then transferred (for that princely sum of GBP1) to Gringy (UK) Ltd, the shell company that technically owned the team in its Benetton days. Gringy (a wholly owned subsidiary of Renault) will hold a 90-percent stake in the team, with the last 10 percent remaining in Genii's hands and those of its investors. In the process, the outfit will now rejoin the likes of Ferrari and Mercedes among the F1 teams developing their own powertrains. Related Video: News Source: Motorsport.comImage Credit: Dimitar Dilkoff/AFP/Getty Earnings/Financials Motorsports Lotus Renault F1 genii capital

Lotus stepping up to LMP1 in World Endurance Championship

Only a couple of years ago, it looked like the top tier of prototype endurance racing was in trouble. Peugeot shut down its program, leaving the LMP1 category all to Audi to dominate. Only six cars entered the Petit Le Mans in 2012, and the season was cut short. But the top class in the FIA World Endurance Championship has since blossomed. And it only looks poised to grow further.
Audi and Toyota will each be back on the grid this season, joined by Porsche. But the latest news has Lotus stepping up to the big leagues also. (Well, sorta: the German-run squad uses the Lotus name and colors, but has no more to do with the automaker than the Formula One team of the same name.)
The Lotus LMP1 will be based on the same Lola-based T129 chassis used until now in the LMP2 class, with former F1 driver Christijan Albers leading the driver lineup. In addition to Audi, Toyota and Porsche, the solitary Lotus entry will also compete against privateer Rebellion Racing in a nine-car LMP1 grid throughout the season.