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Renault bailing out Lotus F1 Team to pay $4M tax bill

The road ahead looks to be clear for Renault to reacquire the Formula One team that once bore its name. The latest reports have it that the French automaker is prepared to pay a multi-million-dollar tax bill to the British government to keep the Lotus team from entering bankruptcy proceedings. According to the report from Autosport, the Lotus F1 Team owes a massive GBP2.7 million – equivalent to over $4 million at current exchange rates – to the Her Majesty's Revenue & Customs authority for income tax and national insurance (Brit-speak for social security). The team was supposed to have withheld and submitted the funds on behalf of its 400 employees dating back to June, but since it has yet to pay up, it's being taken to court by the UK government. Apparently unable to foot the bill, the cash-strapped team looked poised to enter bankruptcy just as the Caterham and Manor/Marussia teams did last year. But Renault is now poised to step in to the team's rescue. Those with a longer memory for F1 history will point out that the Lotus team – which has little to do with the sports car manufacturer of the same name – dates back to 1981, and has changed title and ownership several times over the years. What was founded as Toleman was then taken over by Benetton. Renault acquired the team in 2000, but sold it to its current owners Genii Capital in 2009. The team based in Enstone, UK, won back-to-back world championships with Michael Schumacher in 1994-95 and again with Fernando Alonso in 2005-06, but has struggled both competitively and financially over recent years. Consigned to an engine-supply role since divesting itself of majority interest in the Lotus team, Renault has been rumored to be preparing to reacquire the outfit from Genii – and in all likelihood switch it back from Mercedes power to its own. Paying the outstanding tax bill will likely emerge as the first step in that reacquisition. Once it takes over full ownership again, Renault is expected to rebrand the team in its own image, and will then have to decide on driver and other personnel contracts for next season. Related Video:

Race Recap: 2013 Korean F1 Grand Prix crazy enough for Psy [spoilers]

The end of qualifying for the 2013 Korean Formula One Grand Prix left us with five pairs: two chassis each from Infiniti Red Bull Racing, Mercedes-AMG Petronas, Lotus, Ferrari and Sauber. Yes, Sauber. The last time the Swiss team had two drivers in the top ten was Japan last year, when Kamui Kobayashi converted the grid spot into a podium.
But let's start at the front of the top ten, where Sebastian Vettel put his Red Bull on pole for the 42nd time in his career. He was followed by Lewis Hamilton in second place by two-tenths of a second, Mark Webber in the second Infiniti Red Bull, and Romain Grosjean in the Lotus in fourth. Out-qualifying teammate Kimi Räikkönen again, the Finn would line up in tenth. Nico Rosberg put the second Mercedes in fifth, Fernando Alonso got the first Ferrari into sixth ahead of teammate Felipe Massa, while Nico Hülkenberg led with the first Sauber in eighth, teammate Esteban Gutiérrez showing the promise he was hired for (okay, and his money) in ninth. Except they'd all move up a place because Webber had to serve his ten-place grid penalty after getting his third reprimand of the season in Singapore. That would get Sergio Perez in his McLaren into tenth. Yes, McLaren needed a grid demotion ahead to make it into the top ten.
It was an entertaining top ten that no one would have expected. When the red lights went out, we were treated to one of the most entertaining races of the year - it was Gangnam Style at 300 kilometers per hour.

2024 Lotus Eletre First Drive Review: And now for something completely different ...

OSLO, Norway — It doesnÂ’t get much more future-forward than the 2024 Lotus Eletre, a ginormous leap into electrification that looks, feels and drives like nothing before it. The EletreÂ’s all-new everything pushes into uncharted territory for Lotus: this is the brandÂ’s first EV and SUV, entering a crowded market that is critical to the future of the 75-year-old British nameplate. No pressure Lotus, weÂ’re here for it. First off, the design. As frivolous as it seems to address the subjectivity of looks, appearance matters with six-figure statement pieces. Despite the EletreÂ’s underpinnings being developed in Sweden and Germany, and the fact that it's built in China by majority stakeholder Geely, the design hails from the spot where the brandÂ’s late, great founder Colin Chapman first set up shop: Hethel, England. The design is triggering for many, from the split front grille and bifurcated headlamps to the height of the midsection and the sweep of the tail. Now that the SUV field is utterly oversaturated, the EletreÂ’s looks are easily relatable to other more familiar vehicles. In person, thereÂ’s far more to the Eletre than the internet comments of “Hey, that just looks like (blank)” would suggest. Yes, certain bits feel derivative, particularly the nebulous headlamp zone. But thereÂ’s also inventiveness in the details, like the vented hood and creased door surfaces that summon a familiar design language as the Emira. Also distinctive is the wagon-like rear overhang and concave tail thatÂ’s accentuated with a long, uninterrupted LED lightstrip, a la Bugatti Chiron. Spec plays a big part in this large crossoverÂ’s looks. The launch color, Kaimu Grey, makes it come across as rather plain and unremarkable, while Galloway Green and the Solar Yellow pictured here taps into the brand heritage in a good way. Outfitted in splashier hues, Eletre stands out as an SUV that looks nimbler and more lithe than its dimensions suggest. At 16.7 feet in length and 7 feet wide (measured with the conventional mirrors weÂ’ll get in the States), Eletre is no skinny Minnie. ItÂ’s 6.8 inches longer than a Cayenne, 5.1 inches lengthier than a Purosangue and 2.5 inches greater than a DBX. ItÂ’s 0.4 inch shorter than an Urus, but is 2 inches wider. Inside, the feeling is spacious, with decent leg, shoulder and head room.