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European commission investigating F1 finances and anti-competitive accusations

The Kingdom of Formula One reminds us of renaissance Florence - ruled by a singular chieftan behind a mask of representative involvement, rife with spectacularly convoluted machinations, awash in innovations that help define our world and far-flung, vindictive misery. If we found out Bernie Ecclestone's real last name was de Medici, well, it would explain a lot. Now after a bit of back-and-forth, the European Commission (EC) has taken aim at the kingdom, investigating whether F1 is anti-competitive and if the FIA has abused its antitrust agreement. The reason for EC scrutiny is that a British member of the European Parliament who represents an area in southwest England, Anneliese Dodds, has fielded complaints from engineering companies in her constituency that recent moves in F1 have put them out of business. She wrote to the EC to question why the FIA now has a stake in F1 when it signed an agreement in 2001 to be solely a governing body and abdicate any stakeholding in the sport. She also questioned the F1 Strategy Group, a group of the six top teams in F1 that makes decisions about the direction of the sport; she says that the Strategy Group not only appears to be a case of the F1 shirking its rule-making duty, it has resulted in unfair treatment of the small teams that aren't in the group. Dodds has a bit of a point. In 2001, the FIA sold F1's commercial rights to Ecclestone for 100 years for a sum of $313.7 million. That was done to placate European regulators who insisted that "the role of FIA will be limited to that of a sports regulator, with no commercial conflicts of interest." Although the rights are ultimately owned by the FIA and bring in a $10M fee every year from Formula One, those rights bring in $1.6 billion each year to Formula One Management (FOM), the company that owns F1. When Ecclestone was trying to get the new Concorde Agreement signed in 2013 that governs the running of the sport, the FIA wouldn't sign, saying it wanted F1 to share a larger slice of its revenue – the FIA has been losing money for years, see. To the get the FIA to sign, Ecclestone sold it a one-percent stake in F1 for $460,000 and gave the FIA a $5M signing 'bonus;' whenever F1 has its IPO, that stake is estimated to be worth about $120 million - not a bad return. Yet, according to the aforementioned 2001 agreement, the FIA can't have that equity stake.

Lotus slated to stop selling Evora in US

It's been three years now since Lotus stopped selling the Elise and Exige in North America, leaving the Evora as its only model available Stateside. But according to the latest from Car and Driver, even that model is on its way out.
The problem reportedly comes down to air bags. Lotus was granted a temporary exemption from fitting the latest-generation smart airbags to the Evora, but that exemption is set to expire at the end of the year. And once it does, Lotus apparently has no intention of developing and fitting the proper equipment to allow it to continue selling the Evora in the United States.
Once the Evora is gone from our market, Lotus will be reduced to selling only track-bound versions of the Elise and Exige in the US, so the prospect of actually buying a new Lotus and driving off the dealer lot will vanish into thin air.

Lotus Type 130 electric supercar officially named Evija

Only known as the Type 130 to this point, the new Lotus supercar finally has its official name: Evija. Lotus made the announcement at the 2019 Goodwood Festival of Speed, and some fans have the lucky opportunity to get a sneak preview of the all-electric performance vehicle during the event. The Evija, which is pronounced "ev-eye-a," will be the first car Lotus has produced under the ownership of Chinese umbrella company Geely. Evija means "the first in existence" or "the living one," according to Lotus, thought the company did not go into the origins of the word. With cars such as the Rimac C_Two already in existence, the Evija is not the first electric supercar, but Lotus says it is the "first all-electric hypercar" from a British automaker. It's also the first electric Lotus. The Evija is slated for its world debut in London on July 16, 2019, and production is expected to start in 2020. However, Lotus set up a light show experience at Goodwood that involves that car. So, fans won't see the full vehicle, but the experience will tease small yet-to-be-seen details.  Very little information is known about the car yet, save for a nebulous aero image and a couple short video teasers. It will have a push-button gear selector, a light-up rear Lotus badge, an electric charging dock cover, and it appears it will have a tablet style dash setup. And, of course, carbon fiber will be the material of choice inside and out. We'll have full specs, photos, and information shortly. Auto News Green Green Lotus Lotus Evija