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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 F1 team $186 million in debt

The Lotus F1 team has fallen on some hard times. Majority-owned by investment firm Genii Capital and having little to do with the British automaker with which it shares its name, the Enstone-based outfit has been widely reported to be in serious financial trouble. The extent of those difficulties were until now unknown, but a new report from Germany's Auto Motor und Sport reveals that the team is in the red to the tune of £114 million - equivalent to $186 million at today's conversion rates.
The lack in cashflow is widely believed to have been the impetus for Kimi Raikkonen's departure from the team in order to return to cash-rich Ferrari, and was one of the major factors in selecting Pastor Maldonado to replace him instead of a more proven and accomplished driver of Raikkonen's caliber. Maldonado brings with him major sponsorship funds from Venezuelan state oil company PDVSA. In speaking with the German publication, however, Lotus F1 chairman (and Genii co-founder) Gerald Lopez revealed that the lion's share of the team's debt - £80 million or $130 million - is with Genii Capital itself, a negative balance that isn't likely to affect the team's day to day. That leaves about $56 million which the team owes to outside parties, including Raikkonen, who has yet to receive the full pay he was contracted for.
The team has opted to sit out the first test session of the Formula One season at Jerez. Its 2014 chassis isn't ready and, given the relatively cold temperatures at this point in the year, the team wouldn't expect to learn much about tire performance and degradation. As far as the new engine goes, Lopez says that any knowledge gleaned by Red Bull, Toro Rosso and Caterham at the test session will ultimately be shared with Renault and through it back to Lotus as well. Lotus engineers helped develop the new KERS system with Renault regardless, so the team already has the energy-recovery data it needs. The team will instead prepare for the second test session in Bahrain, by which point it aims to have its new car ready to kick off the season. Lopez says that it has secured the funding to offset its costs for the season ahead, and that it is working to pay down its debt.

Volkswagen looking to acquire Proton, Lotus?

Let's say you're an automaker bent on world domination looking to grow your sales. That's going to have you looking at Asian markets, because that's where some of the biggest growth has been, and that's exactly what Volkswagen is doing as it considers making another run at Malaysia's Proton.
Reuters reports that Volkswagen is interested in at least a partial stake, if not a controlling interest in Lotus-parent Proton as a way to continue a production presence in the region without having to build its own factory.
Volkswagen already builds the Passat in a DRB-HICOM facility in Pekan, Malaysia, and plans are in place to build the Jetta and Polo there, as well. With both southeast Asia and its relationship with Proton figuring so importantly in Volkswagen's plans for expansion, buying into Proton can help ensure stability. Volkswagen is being tight-lipped about the whole idea, but CEO Martin Winterkorn did recently say, "it's our clear goal to continue the successful (expansion) course of past years with great dynamics and stability," which sounds an awful lot like deals are on the table to smooth the path to further growth.