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Lotus Evija whirs onto Quail lawn to tempt 130 prospective customers

At last, we've met the Lotus Evija in its compact, electric-charged glory. The carbon-fiber-bodied electric supercar looks like liquid metal poured over some skeletal biologic form. The coupe represents the first all-new Lotus since the ten-year-old Evora went on sale, the first Lotus developed wholly under Geely ownership, the first in-house all-electric vehicle from Hethel, the first Lotus with a one-piece carbon fiber monocoque tub, and the first one Hethel HQ will send to the Nurburgring to break a lap record. Lotus announced that lap record tilt saying it should be "comfortably quicker" than the all-electric NIO EP9 road-legal EV that ran a 6:45. That has since been broken by the 6:05 figure Volkswagen achieved with its ID.R, a purpose-built electric race car. The 'Ring doesn't yet divide EV times into classes, so we'd still like to see Lotus go for outright honors. That is indeed unfair, but the Evija has the numbers to at least make a go of it. The four electric motors in the ID.R produce a combined 680 horsepower and 479 pound-feet of torque to move a car weighing 2,500 pounds. The Evija's 50 percent heavier at 3,700 pounds, but has almost triple the horses and more than double the torque, its two motors making a combined 2,000 horsepower and 1,254 pound-feet of torque. It does have active aerodynamics, including a moving rear wing, but it's still short a bunch of race aero, a giant front splitter, and a DRS button. No matter how the German caper turns out, we expect Lotus will be able to find homes for all the Evijas it offers for sale. Only 130 will be made, each one starting at around $2.1 million.

Lotus drops Renault for Mercedes F1 engines

With only three manufacturers supplying engines in Formula One this season, the teams have been fairly evenly split: Ferrari, Sauber and Marussia use Ferrari engines; Mercedes, McLaren, Williams and Force India run on Mercedes power; Red Bull, Toro Rosso, Lotus and Caterham employ Renault power units. But one important team is reportedly preparing to ditch Renault and switch to Mercedes for next year.
That team is Lotus, an outfit which has fallen off its pace the past few seasons but which has still been a vital partner for Renault. That's because until a few seasons ago, the team based in Enstone, UK, was owned by Renault and bore the company's name. The operation was founded in 1981 as Toleman, was rechristened Benetton in 1986, bought by Renault 2000, taking the company's name in 2002, sold to its current owners Genii Capital 2009 and adopting the black and gold Lotus livery in 2011. As Benetton, it ran Ford engines until switching to Renault in 1995, sticking with the French outfit ever since, but that decades-long partnership - which meandered through Renault ownership and back out again - is now apparently drawing to a close.
The departure of Lotus as a customer team ought to allow Renault to focus instead on its increasing ties with Red Bull, which has taken the Enstone team's place as Renault's principal team. It could prove a smart move for the Lotus team as well, as the Mercedes engines have been outperforming the Renault units this season by an order of magnitude: not only is Mercedes far outpacing Red Bull at the top of the standings, but each of Mercedes' customer teams is performing better than Renault's clients.

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.