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Detroit Electric SP:01 electric Lotus project not dead yet

Detroit Electric is still on board to produce the Lotus Exige-based SP:01 electric sports car, which has been delayed more than once already. According to the carmaker, the SP:01 prototype is currently undergoing testing at a facility in Europe, as we can see in the above photo provided by Detroit Electric. Details about the production schedule and on-sale date for the SP:01 are still unclear, but Detroit Electric says it will announce more about that in the coming weeks. Production was originally supposed to begin last year, but was delayed when plans to build the car in Plymouth, MI fell through. Production is now planned to take place in Holland, but there's still potential for future models to be made in Detroit. The company has stated that the SP:01 will come with a base price tag of $135,000. Like the Tesla Roadster, the Detroit Electric SP:01 uses a Lotus chassis. The car's electric motor provides 201 horsepower and 166 pound-feet of torque to the rear wheels, pushing the car to 62 miles per hour in 3.7 seconds, with a top speed of 155 mph. Range on a full charge is said to be more than 180 miles. The SP:01 has been off to a bit of a rocky start, but this bit of news shows there's still life in the project. Let's just hope it all continues smoothly. See what Detroit Electric has to say for itself in the press release below, or check out our original post about the SP:01 for all the details about the car. World's Fastest Production Electric Vehicle Prepares for Launch Detroit Electric, the international electric vehicle manufacturer, is finalising dynamic testing of its SP:01 pure-electric sportscar at a facility in Europe ahead of its introduction in several world markets. The lightweight, two-seat, rear-wheel-drive, open-top sportscar promises to thrill the EV market with its blistering performance and exhilarating dynamics. This latest version of the SP:01 has seen additional development work carried out by Detroit Electric's engineers and designers since a pre-production version of the vehicle was revealed to the media at events in Detroit, USA, and Shanghai, China, last year. Further details of the car and Detroit Electric's production and sales plans will be announced in the coming weeks. Related Gallery Detroit Electric SP:01: Live View 11 Photos Related Gallery Detroit Electric SP:01 View 9 Photos News Source: Detroit Electric Green Lotus Electric prototype testing detroit electric detroit electric sp:01 sp:01

Lotus to move immediately forward with new variants rather than new models

It took 1.5 years, but a DRB-Hicom managing director told Malaysia's Business Times that the company has "cleaned up" the situation at Lotus from its finances to its marketing and image. The clean-up job we're most interested in, the product portfolio, will be demonstrated by financial investment in a three-year program of "variants based on existing products - variants with improved technology, improved performance."
You'll notice mention of the word "variants" three times but no mention of the phrase "new models." We knew that with the death of the five-new-model turnaround plan dreamed up by ex-Lotus CEO Dany Bahar DRB-Hicom said there'd only be three distinct lines - which is the current number - but during Lotus' trouble-plagued 2012 it sold just 80 cars all year, and for a tense spell it really wasn't clear if DRB-Hicom would commit to even keeping Lotus alive, much less investing in it.
It's not clear how much is being put into in the three-year program of offshoot models like the 345-horsepower Exige S Roadster (pictured), but it might be fair to say this is where Lotus' revival really begins, and does so with baby steps. Autocar reports that DRB-Hicom has already put 100 million pounds into the English carmaker, and as its issues were worked through Lotus has sold almost as many cars in the first five months of this year as it did all of last. That has not only convinced the Malaysian minders to throw more money its way, but the UK's business secretary has also approved a 10-million-pound investment into Lotus through the Regional Growth Facility program.

Renault bailing out Lotus F1 Team to pay $4M tax bill

The road ahead looks to be clear for Renault to reacquire the Formula One team that once bore its name. The latest reports have it that the French automaker is prepared to pay a multi-million-dollar tax bill to the British government to keep the Lotus team from entering bankruptcy proceedings. According to the report from Autosport, the Lotus F1 Team owes a massive GBP2.7 million – equivalent to over $4 million at current exchange rates – to the Her Majesty's Revenue & Customs authority for income tax and national insurance (Brit-speak for social security). The team was supposed to have withheld and submitted the funds on behalf of its 400 employees dating back to June, but since it has yet to pay up, it's being taken to court by the UK government. Apparently unable to foot the bill, the cash-strapped team looked poised to enter bankruptcy just as the Caterham and Manor/Marussia teams did last year. But Renault is now poised to step in to the team's rescue. Those with a longer memory for F1 history will point out that the Lotus team – which has little to do with the sports car manufacturer of the same name – dates back to 1981, and has changed title and ownership several times over the years. What was founded as Toleman was then taken over by Benetton. Renault acquired the team in 2000, but sold it to its current owners Genii Capital in 2009. The team based in Enstone, UK, won back-to-back world championships with Michael Schumacher in 1994-95 and again with Fernando Alonso in 2005-06, but has struggled both competitively and financially over recent years. Consigned to an engine-supply role since divesting itself of majority interest in the Lotus team, Renault has been rumored to be preparing to reacquire the outfit from Genii – and in all likelihood switch it back from Mercedes power to its own. Paying the outstanding tax bill will likely emerge as the first step in that reacquisition. Once it takes over full ownership again, Renault is expected to rebrand the team in its own image, and will then have to decide on driver and other personnel contracts for next season. Related Video: