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Lotus confirms new Emira will be its last car powered by gasoline

Lotus is four years into the 10-year Vision80 plan that it announced at its 70th anniversary in 2018, and according to Matt Windle, managing director of Lotus Cars, the brand is "on track" to completely revitalize its line of sports cars as it branches out into profitable new automotive segments. Windle also confirmed the name of Lotus' upcoming new vehicle: "The spirit and passion that gave the world the Elise, Exige and Evora will live on in the next generation of cars – cars like the all-new Lotus Emira." The British company's sports car replacement, previously known as the Type 131, will make its virtual debut on July 6 before being shown in public at the Goodwood Festival of Speed that begins on July 8. Lotus confirmed that the Emira will be offered solely with internal combustion engine options and will not offer hybrid power, and that the powerplant comes from "an exciting new powertrain partnership" with options that are "new to Lotus." The company's Elise, Exige and Evora used four- and six-cylinder engines sourced from Toyota and tuned specifically for high-performance use. The Emira, which will be priced similarly to the Evora, will be the last production Lotus powered by gasoline, and it will be built atop a brand-new "Elemental" platform that relies on the brand's familiar extruded aluminum-intensive chassis. Three more platforms are currently in development, and these four architectures will provide the basis for the company's planned expansion. The next we expect to see in production is the Hypercar architecture that forms the basis of the upcoming Lotus Evija. The electric Evija and its "Extreme" platform will start rolling out of the Hethel headquarters later this year. Lotus' "Evolution" platform is next, and it will underpin "an all-new range of lifestyle vehicles" that "will catapult Lotus into a new era of higher retail volumes and significant revenues." We take that to mean SUVs. This Premium architecture was reportedly designed by Lotus in the UK with collaboration from other brands under the Geely umbrella in China and Sweden and Germany. Finally, Lotus and Alpine have consummated their recently announced partnership and will launch an "E-Sports" platform that will be "will be flexible and modular." We expect a range of electric vehicles on this architecture that could include everything from sports cars and hatchbacks to crossovers and other utility shapes.

China's Geely says it has no plan to buy Fiat Chrysler — as FCA stock leaps

HONG KONG — Chinese carmaker Geely Automobile denied media speculation on Wednesday that it planned to make a takeover bid for Fiat Chryslerk Automobiles (FCA), the world's seventh-largest automaker. Geely was one of several Chinese carmakers cited in by Automotive News, which said representatives of "a well-known Chinese automaker" had made an offer this month for FCA, which has a market value of almost $20 billion. "We don't have such a plan at the moment," Geely executive director Gui Shengyue told reporters at an earnings briefing, when asked if Geely was interested in Fiat. He said a foreign acquisition would be complicated, but he did not elaborate. "But for other (Chinese) brands, it could be a fast track for their development," Gui added. However, a source close to the matter said FCA and Geely Automobile's parent firm, Zhejiang Geely Holding Group, had held initial talks late last year, without disclosing their nature. The source confirmed Geely was no longer interested in FCA, noting that the parent company had only three months ago announced its first push into Southeast Asia with the purchase of 49.9 percent of struggling Malaysian carmaker Proton, a deal that also included a stake in Lotus. Geel's denial failed to dent FCA's stock. The price of its Milan-based shares has jumped more than 10 percent to a 19-year high since Automotive News first reported on Monday, citing unnamed sources, that FCA had rejected the Chinese offer as too low. FCA stock on the New York Stock Exchange rose sharply on Monday from $11.60 to $12.38 and on Wednesday was trading at $12.84. FCA declined to comment on Wednesday. FCA Chief Executive Sergio Marchionne has repeatedly called for mergers as a way of sharing the costs of making cleaner, more advanced cars, but he has repeatedly failed to find a partner and retreated from his search for in April, saying FCA would stick to its business plan. He has also spoken of spinning the successful Jeep and Ram divisions off from FCA. Europe's largest carmaker, Volkswagen, and General Motors have both said they are not interested in talks with FCA. On Wednesday, Geely Automobile reported a doubling of first-half profit, above expectations, as cars designed with Sweden's Volvo won over domestic consumers. Volvo is a unit of the Zhejiang Geely group, and has recently announced it will share its technology with Geely.

Lotus Esprit spied wearing mismatched Evora bodywork

The sorta funky looking Lotus Evora you see above isn't really an Evora at all. In fact, it's a mule for an upcoming new Lotus in the spirit of the Esprit, which, rumor has it, will be introduced in the first half of 2021. It may even be called the Esprit, reviving the name of one of the company's most recognizable and well-loved nameplates, though that has yet to be confirmed by the British automaker. Power is expected to come from a Toyota-sourced V6 engine, as is the case with the Evora. But instead of the Evora's 2+2 seating configuration, the reborn Esprit would be a two-seater. While we aren't privy to the automaker's engineering offices, it seems the space vacated by the vestigial rear seating area might be used to hold some battery packs, as the upcoming car is going to be a hybrid. The 2020 Lotus Evora spins 416 horsepower out of its supercharged 3.5-liter V6; the hybridized Esprit is rumored to pack over 500 ponies, buoyed by an electric motor and lithium ion battery pack that's thought to be cribbed from the Volvo parts bin. That makes sense, as Lotus and Volvo both fall under Chinese automaker Geely's umbrella. The Evora offers the choice of six-speed manual or automatic gearboxes, but we'll have to wait and see if those choices are shared with the Esprit. The mule seen above is sporting some mismatched Evora bodywork — seemingly sprayed black in haste, judging by the specks of blue and yellow at the front and rear along with the lone green pop just ahead of the rear wheels — that has been widened with some tacked on wheel arches. The production version is expected to crib styling elements from Lotus' range-topping electric Evija. We can't wait to see how it all turns out. Related Video: