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Lotus suing former CEO Bahar over spending on homes, helicopters and watches

More details have come out about the legal suit and countersuit being contested between Lotus cars owner DRB-Hicom and former CEO of Lotus Dany Bahar. Bahar was brought in by Malaysian car company Proton in 2009 to turn Lotus around, and events during his tenure have made just about everyone wonder "What's going on?" That's not unusual - it can take a minute to figure things out when a new leader takes everything in a new direction - but in this case the clouds didn't clear quickly enough.
When the Malaysian government sold Proton to Malaysian auto supplier DRB-Hicom earlier this year, a forensic accounting team from Ernst & Young and The Rothschild Group started going over the books. Not long after, Bahar was suspended in June from his position and then fired. In his countersuit against DRB-Hicom, claims of lavish spending began to surface. Then the stories and leaks and rumors really began, the UK's Financial Mail reporting on more than one million pounds spent on private flights and home renovations, the New Zealand Herald talking about other executives sacked so that DRB could rearrange a 270-million-pound bank loan to Lotus, and rumors on forums about Bahar flying from his home in Norfolk to Hethel HQ and spending 30,000 pounds on motorsports books for his office.
In the latest Bloomberg report it is said that DRB-Hicom seeks 2.5 million pounds ($4 million US) from Bahar "for unauthorized expenses and overpaid salary and bonuses," including the purported expense of 3,000 pounds on watches for company managers. DRB-Hicom also says Bahar made damaging statements to the media, on top of breaching his contractual duties. Bahar's countersuit seeks $10.6 million from DRB-Hicom.

Lotus announces race-ready Exige V6 Cup and Cup R

Lotus has pulled off the wraps on two new versions of the Exige: the V6 Cup and the V6 Cup R. Based on the Exige S, the V6 Cup is built to be a dual-purpose street and track machine. The 0-60 dash should take just under 3.8 seconds thanks to a full 345 horsepower from a supercharged 3.5-liter V6 engine. Weighing in at 2,380 pounds, the V6 Cup should be an absolute riot to drive, and with a full FIA-approved roll cage, fire extinguisher and six-point race harnesses on board, it's plenty safe, too. Two-way adjustable dampers are standard, as are AP Racing four-piston calipers on all four corners. More importantly, drivers can expect to find the Lotus Dynamic Performance Management system in the cockpit, complete with Touring, Sport and DPM Off modes.
The V6 Cup R, meanwhile, is both lighter and offers more horsepower than the standard V6 Cup. The same blown V6 dishes out 366 horsepower in R trim, and the whole contraption tips the scales at 2,292 pounds. Of course, the same spate of race hardware is stock, minus the DPM system. A lightweight battery, track-spec tow loops and quick-release engine cover help separate the Cup R from its more civil sibling, as do performance brake pads and better oil and water cooling systems.
Check out the brief press release below for more information. Both of the new models are headed for a debut at the 2013 Autosport International Show.

Lotus unveils new racing bike for British Olympics team

Lotus Engineering, the automotive consultancy and industrial design arm of the British performance car brand, has marked its return to competitive cycling with a sleek and lightweight new track bike that features novel fork, seat stays and handlebars. Developed in concert with Hope Technology, a British bike-components manufacturer, the bike is aimed at helping the Great Britain Cycling Team notch medals at the 2020 Tokyo Olympics. For Lotus, the bike represents a return to cycling after a 25-year absence. It’s also a nod to the Lotus Type 108 bike Chris Boardman rode to a gold medal at the 1992 Barcelona Olympics and in the 1994 Tour de France, where he won the prologue time trial to take the yellow jersey. Hope/Lotus British Cycling View 10 Photos WeÂ’re not given any details about the bikeÂ’s technology or specs, except that the Hope-designed frame is made of high-modulus composites with fabric woven in the U.K. Lotus was responsible for the unique fork and seat stays, with each characterized by slim polished metal tubing and a wide-flaring hooping design when viewed straight on. The handlebars similarly feature a flattened profile across the crossbar. Not surprisingly, the bike underwent lots of wind-tunnel testing, both with and without riders, plus testing to maximize strength with minimal weight. Lotus also said it worked to improve stiffness and front end feel. Much of the design and development was done after the 2016 Olympics, when the UCI governing body made changes to the rules governing bike development. Lotus and Hope were supported by British engineering firm Renishaw. The bikeÂ’s design must be approved by the UCI and be ridden by the Great Britain Cycling Team during the 2019–2020 Tissot UCI Track Cycling World Cup series by the end of this year in order to qualify to be ridden in the 2020 Olympics in Tokyo. TheyÂ’ll start riding it this weekend at the Minsk-Arena velodrome in Belarus, and November 8–10 in Glasgow, Scotland. ItÂ’ll also be displayed at the Rouler Classic event in London starting Friday and running through Sunday. Lotus Bicycle lotus engineering