2006 Lotus Elise In Chili Red/one Owner With 20k Miles on 2040-cars

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Why Lotus thinks its luxury EV game plan will succeed globally

  Luxury sports car and EV maker Lotus completed its SPAC merger last week in the U.S. and its stock was publicly traded for the first time on Friday. It’s an interesting turn of events for the Geely-backed automaker now known as Lotus Tech given the uncertain EV market, but one that may prove an exception to the struggles of other pure-play EV makers. Trading under the ticker LOT on the Nasdaq, Lotus Tech will focus on the higher end of the EV market with its Eletre SUV and Emeya sedan, which will not only be offered in the US but also in Europe and, more importantly, China. “What is most important here is that we are definitely going to more markets at the same time through more models and through more stores,” said Lotus Tech CFO Alexious Lee to Yahoo Finance from the Nasdaq market site. By the end of the year Lotus will have four vehicles in production, three of them EVs. “These four models are currently available in Asia Pacific and part of it is also available in UK and EU,” Lee said. “We're having the new [Eletre] SUV model coming into the U.S. in the third quarter of this year, so different markets have different strategies and different product offerings and different conditions." Lotus is able to go to market in a number of territories due to the backing of its majority owner, Chinese auto giant Geely. But it also raised a considerable amount of money through its SPAC merger. Lotus Tech said it raised more than $880 million in pre-closing and PIPE financing commitments, with a targeted valuation on listing day of nearly $7 billion. Lotus Tech also had an interesting partner with its SPAC merging, combining with L Catterton Asia Acquisition Corp (LCAA), which is backed by French luxury conglomerate LVMH. Lotus Eletre in Solar Yellow View 11 Photos As Lotus targets the luxury segment with its vehicles — the Eletre and Emeya will be playing in the $80,000 to $150,000 ballpark — having a partner like LVMH, with its deep connections and insights into the luxury consumer, could be hugely beneficial. “Now what is more important here is Anish Melwani, who is the CEO for LVMH North America, will be on the board of Lotus Tech,” Lee said.

In hindsight, Musk wouldn't use Lotus for Tesla Roadster

The world will be a different place after Elon Musk builds a time traveling device (don't ask us how we know that will happen). For one thing, the Tesla Roadster of the rewritten future will not have been built using the chassis of the Lotus Elise. Also, verb tenses will be becoming even more confusing and, possibly, awkward. "We ended up changing most of the damn car" – Elon Musk We know about the not-using-the-Lotus thing because the Tesla Motors CEO said as much yesterday at the World Energy Innovation Forum at the Tesla Factory in Fremont. The two-day event, which also offers Model S test rides and a factory tour for attendees, featured a fireside chat with the electric automaker's CEO and Ira Ehrenpreis. During the discussion, Musk revealed that if he had to do it over again, he would have built the Roadster from the ground up instead of using the Lotus Elise chassis. "We ended up changing most of the damn car, so we thought later, why did we do that," he said. Another problem with the original idea for the car was the drivetrain. At first, Tesla had meant to use the motor and other propulsive bits from AC Propulsion, only to find that powertrain didn't work well in a commercial application. Instead Tesla only licensed the reductive charging patent, which allowed some integration of the inverter and charger. Besides knocking Tesla's own early efforts, the outspoken entrepreneur took a couple swings at other technologies with quotable quotes such as: "The internal combustion engine is a ridiculous thing!" and "Current lithium ion technology is better than theoretical fuel cell limits. So, game over. Why bother with fuel cells?" Looks like there are some things Musk is not interested in going back in time and changing.

Caterham inks US distribution deal with Superformance

Sort of like an automotive big box store, Superformance is rapidly becoming the destination for anyone interested in modern kit cars. Besides the normal spattering of Shelby Cobra replicars, Superformance also offers replicas of the GT40 and Corvette Grand Sport. Now, we can add an altogether different type of DIY car to the company's portfolio - Caterham.
Superformance has just been announced as the new US distributor for Caterham Cars, effectively adding the entire suite of Lotus variants to the company's catalog. While there will be a large variety of models available, according to Caterham the mix will skew toward more powerful offerings. As much as we like the affordable appeal of a Seven 160 or Roadsport, simply having the wildly powerful 620 R or Superlight R500 available in the US is a good thing for enthusiasts.
"In the last two years, Caterham has significantly broadened its reach internationally and signing a new official distributor in the form of Superformance in America is a natural extension of how our brand is expanding, rapidly, across the globe," Caterham Group CEO Graham Macdonald said. Read more in the press release below.