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Alpine joins forces with Lotus to develop an electric sports car

Renault's performance-rooted Alpine division linked arms with Caterham to develop the current-generation A110, but it brought the project in-house after the partnership collapsed. It's again looking across the English Channel to design the model's replacement. It teamed up with Lotus to examine ways to create a nimble electric sports car. Both companies issued a statement to cautiously explain the project remains at the embryonic stage. Development work hasn't started yet. Executives simply agreed to conduct a comprehensive feasibility study for the joint engineering, design, and development of a battery-powered model. On the French side, the car (assuming it's approved) will replace the A110. In the United Kingdom, it's unclear whether the Lotus-badged variant will take the torch from an existing model (like the Elise), or if it will be positioned as a standalone car. While it sounds like nothing is set in stone yet, the match makes sense. Alpine and Lotus are both niche players in the automotive industry, though they're part of much larger groups (Geely owns Lotus). And they both made a name for themselves by building light sports cars. Neither has ever offered a rival to the Lamborghini Aventador, for example. Working together will allow them to find a common solution to the problem of offsetting the mass of an electric powertrain. Overlapping is certainly possible, but Alpine and Lotus can stay in opposite corners of the same room if they put their respective DNAs front and center. Their jointly-developed electric sports car will need to be small, nimble, and quick. From there, Lotus could shape its version as a convertible (or at least with removable roof panels) while Alpine could turn its model into a coupe, the body style it's most closely associated with. Design will be a major differentiating factor, too. Lotus previously hinted its future cars will borrow styling cues from the Evija. We don't know exactly where Alpine is headed, but nothing suggests its future cars will also look like the Evija. Alpine's reshuffling won't end there. Renault announced that the firm will gain responsibility for Renault Sport and Renault Sport Racing in the coming years, and that it will become 100% electric. It will introduce at least three new models during the first half of the 2020s: a car that looks like a city-friendly hatchback, its first crossover, inevitably, and the aforementioned A110 replacement.

Renault paid GBP1 to buy back its F1 team

Running a Formula One team is anything but cheap and straightforward, but it didn't cost Renault much to reacquire the Lotus team from Genii Capital. In fact, according to the latest reports, the French automaker paid just GBP1 – less than a buck fifty – for the privilege. Still, the process was deeply complicated. The reason Renault was able to get it so cheap is because the team was deeply in debt, part of which Renault will now assume. Less than a year ago, the team was said to be nearly $200 million in the red, and just a few months ago Renault came to its rescue to pay a $4 million tax bill to the British government. Under the terms of the new deal, Renault will assume the debt that the team's previous owners had accrued, but will be spared the nearly $150 million which its stakeholders loaned to the team. The history of the outfit based in Enstone dates back to 1981 when it was founded as Toleman Motorsport. French fashion giant Benetton bought the team in 1985, which in turn sold it to Renault in 2000. A decade later, after two world championship titles, Renault began stepping back its involvement in the team and gradually transferred ownership to investment firm Genii Capital, which has run it ever since under the Lotus name that it secured from the automaker under contract until 2017. Unable to fund a competitive team, Genii has now sold the team back to Renault, but the financial intricacies of the deal are far from straightforward. To start with, Genii and its subsidiary Gravity Motorsports (the team's parent company) didn't hold all the shares in the operation, so it bought back over 6 million shares from Whiterock Alliance to add to its own 60 million shares. The vast majority of those shares were then transferred (for that princely sum of GBP1) to Gringy (UK) Ltd, the shell company that technically owned the team in its Benetton days. Gringy (a wholly owned subsidiary of Renault) will hold a 90-percent stake in the team, with the last 10 percent remaining in Genii's hands and those of its investors. In the process, the outfit will now rejoin the likes of Ferrari and Mercedes among the F1 teams developing their own powertrains. Related Video: News Source: Motorsport.comImage Credit: Dimitar Dilkoff/AFP/Getty Earnings/Financials Motorsports Lotus Renault F1 genii capital

Lotus hands Pastor Maldonado a new Evora S in Monaco

Being a Formula One driver has its privileges. First off, you get to drive F1 cars for a living. You get treated like royalty and fly around the world. And if you're lucky, you might get a supercar thrown at you once in a while. It all depends on which team you drive for.
Fernando Alonso, for example, has had countless Ferraris, Maseratis, Abarths and Jeeps thrown his way. Lewis Hamilton was a little disappointed not to get the keys to that rare McLaren F1 LM when he won the championship. But Pastor Maldonado just got his hands on a new Lotus Evora S.
Pastor who now, you ask? Pastor Maldonado. The first Venezuelan driver in F1, Maldonado won the GP2 title in 2010 then made the jump to F1, driving for Williams for the past three seasons, impressively winning the Spanish Grand Prix in 2012. Now he's at Lotus filling Kimi Raikkonen's seat, and took delivery of his white Evora - complete with 3.5-liter supercharged V6 and six-speed sequential gearbox - in Monte Carlo last weekend during the Monaco Grand Prix.