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Lotus reveals new LMP1 at Le Mans

Lotus is at Le Mans this week where it has unveiled its new LMP1. Only it's not racing at Le Mans. And it's not really a Lotus, either.
The prototype belongs to an independent German team that ran a Lotus chassis in the LMP2 category last year, but was granted license by the FIA and ACO to step up to the top-tier LMP1 category to dice it with the front-running hybrids from Audi, Porsche and Toyota this year. Unfortunately, the team - which licenses the Lotus name from the automaker, much as the F1 team does - faced some setbacks. Not the least of those delays resulted from a mid-stream switch in engine suppliers from the Audi-sourced, naturally aspirated V8 it was originally set to use to a new turbocharged V6 from Advanced Engine Research.
As a result it wasn't ready for the Silverstone race that kicked off this season's World Endurance Championship in April. Nor was it ready for the second round at Spa in May or not for the headline event this weekend at Le Mans, but it aims to be on the track at the next round in Austin.

Lotus Exige S gets automatic transmission option

A vehicle as light and agile as the Lotus Exige is all about driver involvement, but those enticed by the nimble sports car's handling and performance who aren't keen on working a stick shift now have another option at their disposal.
Lotus has just announced the availability of an automatic transmission on both the Exige S and Exige S Roadster. For an extra couple thousand euros or pounds sterling, customers will now be able to order a six-speed automatic transmission. The two-pedal setup includes paddle shifters and Sport or Race modes that optimize shifting for "a more spirited drive."
Equipped with the slushbox, the Exige S Automatic is just as quick around Lotus' famous factory test track in Hethel, and even pips the manual version's 0-62 time by 0.1 second, now down to 3.9. Unfortunately, since the Exige isn't available Stateside anymore, however, American buyers can't get their hands on either version.

New Lotus owners ditch ambitious five-year plan

This didn't take long. The new overlords at Lotus have reportedly scrapped the company's five-year plan. DRB-Hicom ditched the turnaround strategy, penned by ousted CEO Danny Bahar, because it believes the market viewed the plan as overly ambitious.
The new product plan will slim the number of new model lines from five to three, and Lotus will likely slash the number planned consultants in favor of relying more heavily on in-house talent. According to The Star, the move should help expedite product development and save cash at the same time.
Even so, nothing is written in stone as of yet. DRB-Hicom says the new plan will take up to a year to finalize. The company has dumped around $242 million into Lotus so far this year, and the struggling automaker may require another $121 million by 2013. Lotus all but stopped production earlier this year during a loan freeze, but the lights came back on in April. The company now produces around 44 vehicles per week.