2005 Lotus Elise Base Convertible 2-door 1.8l on 2040-cars

Auto blog

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.

2020 Lotus Evora GT Road Test | Don’t forget about Lotus

Slipping into the leather, carbon fiber-backed seats and turning on the engine is an event in the 2020 Lotus Evora GT. Stick the stubby, unmarked key in the ignition, turn two notches; press a button on the remote; push the clutch in, and hold the “Engine Start” button down. The tachometer springs to life, zinging up past 2,000 rpm before settling into an even, but emphatic idle. If everybody wasnÂ’t already staring at the little British sports car in the parking lot, they are now. Once the astoundingly complex, but charming start procedure is done, the fun begins. Lotus has sold only one other more powerful version of the Evora in the United States, that being the GT430. This GT is rocking a poked and prodded version of the Toyota 3.5-liter V6 engine found in all Evoras, but as in some other versions, an Edelbrock supercharger has been added to boost output. With the six-speed manual, its output is 416 horsepower and 317 pound-feet of torque. Twist increases to 332 pound-feet with the six-speed automatic, but donÂ’t buy a Lotus with an automatic. Just donÂ’t do it.  The gear lever snicks into first with positive, notch-like action. LotusÂ’ analog gauges stare back, displaying the most important information in a legible size and font. ThereÂ’s a digital speedometer tucked into a little nook under the steering wheel's red center line, just the right height for a quick glance downward. Grippy leather covers the 9 and 3 positions on the wheel, while soft Alcantara contrasts with the leather on the top and flat bottom of the wheel. Lotus clearly knows that sweaty racetrack hands and Alcantara donÂ’t mix.  This clutch is heavy, is the first thought upon setting out on the road. It fits the car and makes the driver work a little to be smooth. Good. Driving a Lotus shouldnÂ’t be a walk in the park. The driving position is bang-on. Those manually-adjustable (and heated!) leather seats are mounted low, their bolsters large enough to be snug, but short enough to slip over getting in. The view forward doesnÂ’t leave much to be desired, but looking out the back is like looking through a mail slot. ThereÂ’s a tiny box of glass, but itÂ’s tinted, making it difficult to see whatever might be visible. Side mirrors it is, and those are plenty fine, even allowing a view of the wide rear hips.  At speed, racecar vibes abound instantly.

Lotus and Aston Martin to hook up?

This has been a tumultuous year for Lotus - to say the least - from the company being sold off back in January to its CEO Dany Bahar being fired in June to its questionable financial status and rumors of the British automaker being sold off to another automaker. First, we heard that Volkswagen was interested in acquiring Lotus and parent company Proton, a rumor that was later dismissed. Now Automobile is reporting that fellow Brit Aston Martin could be in the market to work with or possibly even merge with Lotus.
While this is pure speculation at this point, such a venture could prove to be beneficial for both independent companies. That's because with Lotus focused on lightweight, relatively affordable sports cars and Aston Martin producing high-end performance cars, there is virtually no product overlap between the companies. The article suggests that a person or company wanting to merge these two automakers would have to raise between $1.1 billion and $1.6 billion in order to make a go of it, however.
We're not sure what to think of this latest rumor, but anything that can help get the struggling brand back to health at least has our interest.