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Driving the 2020 Lotus Evora GT, and Defenders at a trickle | Autoblog Podcast #631

In this week's Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Senior Producer Christopher McGraw and Road Test Editor Zac Palmer. First, they talk about driving the 2020 Lotus Evora GT. Then they take some time to update any new happenings and opinions on our long-term Subaru Forester and Volvo S60 T8 plug-in hybrid. In the news this week, the new Land Rover Defender is in short supply, and Tesla is rumored to be creating a 12-passenger shuttle for use in The Boring Company tunnels. Finally, we reach into the mailbag to help a listener replace a Mazda3 hatch with something to better match their lifestyle. Autoblog Podcast #631 Get The Podcast iTunes – Subscribe to the Autoblog Podcast in iTunes RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Cars we're driving: 2020 Lotus Evora GT 2019 Subaru Forester long-term update 2020 Volvo S60 T8 long-term update The 2020 Land Rover Defender is in short supply Tesla may be working on 12-passenger shuttle for The Boring Co. Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on iTunes Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Lotus Advanced Performance division wants to make your dreams come true

Lotus took a big step in its quest to position itself as a British alternative to Porsche by launching a division called Advanced Performance. Run by a former Aston Martin executive, Lotus Advanced Performance will design and build one-off and few-off models, among other tasks. Most high-end and specialty carmakers operate a program that gives customers some degree of freedom in terms of customization. Lotus was, until now, largely an exception to this rule. It hopes to make up for lost time by giving its Advanced Performance division a surprisingly long list of responsibilities. First the department will be responsible for building "ultra-exclusive and unique vehicles" that will not be part of the firm's regular-production line-up. One of these (shown in a sketch above) looks like it draws inspiration from classic Formula One cars. Details are few and far between, but the massive rear wing speaks volumes about the kind of halo cars we'll see in the not-too-distant future. What's unclear is whether Lotus will take customer requests. We've reached out, and we'll update this story if we learn more. Designing limited-edition models and developing race cars will also fall within the scope of Advanced Performance's responsibilities. And, it's the door that buyers who want to customize their car will need to knock on; they'll be able to select different paint colors, trim materials, and upholsteries. Optional extras and a range of Lotus-branded accessories will also emerge from Advanced Performance's headquarters. Immersing customers and enthusiasts into the Lotus world is important as well, so Advanced Performance will organize tours of the brand's production lines, organize driving academies around the world (including on the Hethel test track in England) and prepare "money can't buy" opportunities for clients. There's no word yet on what these experiences will look like; more information should emerge later in 2022. Lotus put Simon Lane in charge of its Advanced Performance division. He's a good choice: his resume includes leading Aston Martin's Q division, whose list of responsibilities looks a lot like Advanced Performance's. Q notably brought us the V8-powered Cygnet in 2018 and the one-of-a-kind Victor unveiled in 2020. Some of its other projects have been more tame: it gave the DBX a long list of carbon fiber parts. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Lotus will go public via SPAC with $5.4 billion valuation

Lotus Technology, the electric-car maker owned by China’s Zhejiang Geely Holding Group Co., agreed to merge with a blank-check company in a transaction that values the combined entity at about $5.4 billion. L Catterton Asia Acquisition Corp. will combine with the EV making subsidiary of the British carmaking group that Geely acquired back in 2017, the two said in a statement Tuesday. The special purpose acquisition companyÂ’s sponsor has ties to Bernard Arnault, the worldÂ’s richest man. Lotus Tech has been looking to go public since at least early last year. Management may have been encouraged by another luxury auto brandÂ’s recent listing: Porsche AG pulled off EuropeÂ’s largest initial public offering in a decade when it debuted in Frankfurt in September. A week later, Porsche overtook Volkswagen AG as EuropeÂ’s most valuable automaker. Rather than go the IPO route, Lotus Tech will merge with a SPAC whose sponsor combined with the private equity operations of ArnaultÂ’s luxury-goods powerhouse LVMH in 2016. LVMH is a passive minority investor in L Catterton, according to a spokeswoman. Arnault overtook Tesla Inc. Chief Executive Officer Elon Musk as the worldÂ’s richest man last month — the first time a European claimed the top spot on the Bloomberg Billionaires Index. While Group Lotus is tiny compared to Tesla, Geely has been steering it away from combustion engines and has several all-electric models planned for the coming years. Lotus Tech sees itself as a competitor to the likes of Ferrari and Aston Martin, and will get a jump on the first electric models from those brands. Lotus unveiled its all-electric Eletre sport utility vehicle last year and plans to launch a rival to PorscheÂ’s popular Taycan EV in 2023. Geely and other owners are expected to retain an 89.7% shareholding in Lotus Tech after the SPAC merger. GeelyÂ’s billionaire owner Li Shufu also controls Swedish carmaker Volvo Car AB and owns stakes in GermanyÂ’s Mercedes-Benz Group AG and the UKÂ’s Aston Martin Lagonda Global Holdings Plc. Deutsche Bank AG advised Lotus Tech on the deal, while Credit Suisse Group AG acted as capital markets adviser to the SPAC. Related video: Featured Gallery Lotus Eletre View 25 Photos Earnings/Financials Green Lotus Electric Luxury Performance