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Lotus pumps Exige up to 430 horsepower

It seems that every few months or so Lotus has yet another lighter, faster version of one of its cars, usually with an emphasis on the lighter part. This time, the latest, fastest Lotus gets a big bump in power. It's the Lotus Exige Cup 430, and it shares its supercharged V6 with the recently launched Evora GT430. That means it makes 430 horsepower, an impressive 55 more than the 375-horsepower Exige Cup 380. It also produces 325 pound-feet of torque. That engine is impressive enough in the Evora GT430, but it becomes pretty breathtaking in the Exige, which weighs about 2,410 pounds. Though that's slightly heavier than the Cup 380, the overall power-to-weight ratio has improved, and Lotus says the 430 can fly to 60 mph in just 3.2 seconds from a standstill. It also boasts a higher top speed than the 380, at 180 mph, which is 5 mph more than the 380. Perhaps more impressive is the fact the Exige Cup 430 is the fastest road car Lotus has tested at its Hethel race track, beating the track-oriented 3-Eleven road car by 1.2 seconds. Among the other interesting features of the Exige Cup 430 are the three-way adjustable shocks as well as adjustable front and rear anti-roll bars. More of the car's total downforce, 45 percent to be precise, acts on the front now, compared with 36 percent on the Cup 380. Four-piston brake calipers are used at each corner. It also comes with a number of weight-saving features as standard, including the lithium-ion battery and titanium exhaust. It can also be optioned to be a legitimate race car with an FIA-legal roll bar and airbag delete. But just the stock car isn't cheap. It has three different price tags depending on whether you purchase it in the U.K., Germany, or France. But the cheapest price in dollars comes from the U.K. where it retails for GBP99,800, or just shy of $131,000 at current exchange rates. Related Video: Featured Gallery Lotus Exige Cup 430 View 9 Photos Image Credit: Lotus Lotus Coupe Lightweight Vehicles Performance

The UK votes for Brexit and it will impact automakers

It's the first morning after the United Kingdom voted for what's become known as Brexit – that is, to leave the European Union and its tariff-free internal market. Now begins a two-year process in which the UK will have to negotiate with the rest of the EU trading bloc, which is its largest export market, about many things. One of them may be tariffs, and that could severely impact any automaker that builds cars in the UK. This doesn't just mean companies that you think of as British, like Mini and Jaguar. Both of those automakers are owned by foreign companies, incidentally. Mini and Rolls-Royce are owned by BMW, Jaguar and Land Rover by Tata Motors of India, and Bentley by the VW Group. Many other automakers produce cars in the UK for sale within that country and also export to the EU. Tariffs could damage the profits of each of these companies, and perhaps cause them to shift manufacturing out of the UK, significantly damaging the country's resurgent manufacturing industry. Autonews Europe dug up some interesting numbers on that last point. Nissan, the country's second-largest auto producer, builds 475k or so cars in the UK but the vast majority are sent abroad. Toyota built 190k cars last year in Britain, of which 75 percent went to the EU and just 10 percent were sold in the country. Investors are skittish at the news. The value of the pound sterling has plummeted by 8 percent as of this writing, at one point yesterday reaching levels not seen since 1985. Shares at Tata Motors, which counts Jaguar and Land Rover as bright jewels in its portfolio, were off by nearly 12 percent according to Autonews Europe. So what happens next? No one's terribly sure, although the feeling seems to be that the jilted EU will impost tariffs of up to 10 percent on UK exports. It's likely that the UK will reciprocate, and thus it'll be more expensive to buy a European-made car in the UK. Both situations will likely negatively affect the country, as both production of new cars and sales to UK consumers will both fall. Evercore Automotive Research figures the combined damage will be roughly $9b in lost profits to automakers, and an as-of-yet unquantified impact on auto production jobs. Perhaps the EU's leaders in Brussels will be in a better mood in two years, and the process won't devolve into a trade war. In the immediate wake of the Brexit vote, though, the mood is grim, the EU leadership is angry, and investors are spooked.

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: