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Lotus' new position: Much improved, if Volvo's experience is a guide

Out today is the news that Geely Holding will acquire controlling interest in British sports car maker Lotus Cars. While some 20 years ago the Chinese acquisition of a British automaker might have inspired grumbling from aggrieved Brits (and the handful of Lotus enthusiasts), the world has moved on. And so – thankfully – can Lotus. To suggest Lotus' business history has been checkered is to broaden the definition of "checkered." With its beginnings in the early '50s as a maker of component cars for competition, Lotus founder Colin Chapman – in a manner not unlike his postwar contemporary, Enzo Ferrari – was always hustling, living a hand-to-mouth existence in the production of road cars to support a racing program. Regrettably, Chapman never found a Fiat, as Ferrari did toward the end of the 1960s. Lotus had Ford in its corner for racing and as a resource for powertrains, and later benefited from the corporate support of both GM and Toyota for relatively short periods. Lotus Cars, however, never enjoyed the corporate buy-in that would have allowed Chapman to race and let someone else build the cars. Regardless of what Consumer Reports or Kelley Blue Book might have thought (if they had ...) about those early Lotus cars, a great many are now regarded as classics. My first knowledge of a production Lotus was when Tom McCahill, the 'dean' of automotive journalists in the US, tested an early Elan for Mechanix Illustrated. While we're still not sure, some 50 years later, how McCahill's XXL frame fit into the tiny roadster, he had nothing but praise for the Elan's athletic chassis and now-timeless design. In today's Lotus portfolio, the Elise and Exige continue that light, athletic tradition, while the larger Evora seems to strike wide – literally and figuratively – of the "less is more" ideal. With the Toyota-powered Evora, more is more. But in an eco-sensitive era demanding more of the original Chapman mantra – add lightness – there's little reason that Lotus can't regain relevance if given the financial resources. Geely's acquisition of Volvo, the fruits of which appear regularly not only in the news but on the streets, suggests the Chinese investment will provide strategic vision (along with money) while allowing Lotus talent to do what it does best: Create an exciting product. And while at various periods in its history the product has been worthy, Lotus in the US has been ill-served by a flailing dealer network.

Lotus nearing decision on sedan versus crossover

Lotus may be comfortable for the time being developing newer and better versions of its existing sports cars, but it won't necessarily skate by on its aging product portfolio forever. According to a report from Reuters, Lotus and its Malaysian parent company DRB-Hicom are currently considering adding a new model to the British automaker's lineup. And in a further sign of the times, it seems likely that the new model would be either a sedan or crossover. "I'm a bit torn between an SUV and a four-door sports car – but in the end I can see that the SUV has the bigger market," Lotus CEO Jean-Marc Gales told Reuters. "We'd do an SUV that is very light, very fast on the track and has outstanding handling," in keeping with what Lotus is known for. It would not be the first sports car manufacturer to delve into either category, of course. Porsche rebuilt its business by expanding into both categories with models like the Panamera, Cayenne and Macan. Maserati has long offered successive versions of the Quattroporte, more recently launched the Ghibli sedan and will soon introduce the Levante crossover. Aston Martin has toyed with both, as has Lamborghini. Other marques like Ferrari and McLaren, however, remain resolutely opposed to either proposition. This past December, we reported that Lotus was preparing to go a slightly different route by offering a high-riding version of the Evora instead of a proper four-door sport-ute. This latest development, however, would appear to be quite different. The company's engineering division showcased the APX crossover concept back in 2006, and revealed the Eterne sedan concept as part of the grandiose plans of the previous Bahar administration in 2010. The last time the proposition came up this past August, nearly half of respondents to our online poll voted that Lotus should build a sedan, but not a crossover. Over a quarter of you said Lotus should built both, 2 percent voted for the crossover over the sedan, and 22 percent said Lotus should steer clear of either.

Lotus next F1 team to collapse?

With the big post-season game of musical chairs finally over, the FIA recently released the final entry list for the 2015 Formula One World Championship. And while most of it is exactly as we've reported along the way (with Sebastian Vettel switching to Ferrari and Fernando Alonso moving to McLaren), the list does have a couple of small surprises. Reigning champ Lewis Hamilton, for example, has opted to race under his own Number 44 instead of the Number 1 to which he is entitled, but it's the asterisks that are raising some eyebrows. Both the Caterham and Marussia teams (the latter listed as Manor Grand Prix Racing Ltd, the name of the racing outfit that technically owns the entry slot) are listed as "subject to confirmation," and while Caterham (unlike the liquidating Marussia team) is still fighting to recover in time for next season, its tentative listing comes as no big surprise. What is a surprise, however, is the inclusion of the Lotus F1 Team with the same caveat, prompting speculation that the Enstone-based outfit might not make the grid next year. Those schooled in F1 history will know that the Lotus team of today shares little in common with the British sports car manufacturer and engineering consultancy of the same name, or with the historic F1 team that previously raced under that banner. It started out as Toleman (the team with which Ayrton Senna got his start) before being bought out by Benetton (where Michael Schumacher won his first two World Champion titles). It was then taken over by Renault (where Alonso won his two titles) before Genii Capital took over and fostered a relationship with Lotus that allowed it to use the name. In a final breaking of ties with Renault, the team is switching to Mercedes power for next season. The Enstone team has struggled recently, however. From the title-winning operation it once was, Lotus dropped down to eighth place in the 2014 Championship, failing to land on the podium (let alone win a race) even once this season, suffering a dozen DNFs out of nineteen grands prix. Without factory backing, the team has struggled financially as well, and without an injection of funds, it could drop off the entry list altogether.