1999 Lotus Esprit V8 on 2040-cars

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China's Geely buying majority stake in Lotus

Geely, the Hong Kong car company that owns Volvo, is acquiring control of British car company Lotus. Geely is purchasing a 51-percent stake in Lotus from struggling Malaysian car company Proton, and a 49.9 percent stake in Proton itself. Etika Automotive will gain the other 49 percent of Lotus. France's PSA Group and Japan's Suzuki had apparently also been interested in acquiring Proton. Geely says it plans to revive both Proton and Lotus. "The agreement lays the foundation for a wider framework for both Geely Holding, Proton and Lotus to explore joint synergies in areas such as research and development, manufacturing and market presence," Geely said in a news release. Those joint synergies will be highlighted by the lightweight chassis technology Lotus is known for, which could help Geely improve fuel efficiency. Geely CFO Daniel Donghui Li said the company aims to "unleash the full potential of Lotus Cars" by expanding and accelerating new products and technologies. Proton was nationally held but was privatized in 2007 to Malaysian conglomerate DRB-Hicom, which is owned by tycoon Syed Mokhtar Al-Bukhary. It was supposed to be the flagship for Malaysia's economic development.Though it owns two factories, Proton mainly rebadges foreign-made cars and sells them in Malaysia. What it has, what Geely presumably wants, is a distribution network in Southeast Asia to pit Chinese cars against Japanese automotive dominance in the region. Retaining a 50.1-percent stake in Proton is seen as a face-saving move. "Proton will always remain a national car and a source of pride, as Proton will still have a majority hold of 50.1 percent," Malaysian finance official Johari Abdul Ghani said. "Our very own much-loved brand now has a real chance in making a comeback, a huge one I hope." Related Video:

Lotus Esprit all but ready to go, but held back by management issues

Brief and disappointing is this report from Autocar on the status of the Lotus Esprit: it is finally ready and sitting at the light, but the light might not go green for a long time. The good news is that from being a concept two years ago at the Paris Motor Show, the aluminum and carbon fiber revival coupe is "purportedly almost finished." It is powered by a twin-turbo, 5.0-liter V8 with something like 650 horsepower, boosted by a kinetic energy recovery system (KERS) and shifting through a seven-speed paddleshift transmission. Even with all that, the UK price is said to be around that of a Porsche 911 4S Cabriolet, and the car only needs "signing off and minor tweaking."
The bad news is that former company owner Proton couldn't stay independent long enough to see through the company's ambitious five-concept-car assault - led by then-CEO Dany Bahar who was hired explicitly to lead such a campaign - and was swallowed up by Malaysian auto supplier DRB-Hicom. For a brief spell Lotus had to shut down production for lack of funds. Then the new owner cleaned house, sweeping out Bahar and, according to the Financial Times just one month ago, the Esprit and every other concept with it. Just after the FT piece came out, Lotus denied the Esprit had been canceled. Still, according to Autocar, the management whirlpool is keeping the Esprit "far from becoming a production reality."
If we're honest with ourselves, we'll keep in mind that the Esprit has been slipping into and out of a terminal ether for what seems like decades. None of us knows what is going on inside Hethel HQ, but the fact that there really is a lightweight, twin-turbo, 650-hp Lotus Esprit finally ready to be produced has to be, in spite of all else, very good news.

Volvo-based, Chinese-built Lotus SUV allegedly due out in 2020

Lotus will set foot in the lucrative SUV segment before the end of 2020, according to a recent report. It's preparing to unveil a high-riding model named Lambda that will be made in China with Swedish parts. Five-plus years in the making, the first Lotus-badged SUV will share its SPA platform with several members of the Volvo range, including the XC90, and with the plug-in hybrid Polestar 1. Citing unverified reports from China, Holland-based AutoWeek reported the Lambda will land in the same segment as the Porsche Cayenne Coupe and upmarket variants of the BMW X6. Patent images (pictured) suggest it will wear a fastback-like roof line. Using the flexible SPA platform will allow Lotus to offer a variety of powertrains, including gasoline-burning four-cylinder engines with forced induction and at least one plug-in hybrid option. SPA wasn't designed to accommodate six- or eight-cylinders, so leveraging electrification will likely be the easiest way for engineers to unlock more performance. An electric variant will reportedly join the range a little bit later in the 2020s. Production will begin in Wuhan, China, in late 2020, according to the same source. Whether the model will be sold in the United States is up in the air. It would make a significant amount of sense: Americans have an insatiable appetite for SUVs, and the company has often stressed it wants to increase its sales in our market. Lotus hasn't commented on the report, and it has remained quiet about its long-rumored SUV. We heard a lot about the model from Jean-Marc Gales, its former CEO; he notably said it will be to the Cayenne what the Evora is to the 911, and he pledged it would become the fastest and most agile model in its segment. He's gone, replaced by Phil Popham in 2018, so that strategy might have changed. If the rumor is accurate, we won't have to wait long to see how Lotus can apply its design language and its unique engineering philosophy to an SUV. Related Video: