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Lotus announces four EVs and moves its technology division to China

Lotus took a big leap towards the mainstream with the announcement it's building four new EVs, and only one is a sports car. The others include a sedan and two SUVs. And on top of the new product announcements, the automaker revealed its Lotus Technology division is going to set up headquarters in Wuhan, China. With the Elise out of the picture and its pockets full of cash from Geely – parent company to Volvo, too – Lotus is moving forward with its ambitious expansion plans. It announced it will grow its line-up of models with four electric cars shown in the sketch above: an SUV called Type 132 internally and due out in 2022, a sedan marketed as a four-door coupe known as Type 133 and expected to go on sale in 2023, a second SUV referred to as the Type 134 that will make its debut in 2025, and a sports car currently dubbed Type 135 that we'll allegedly see in 2026. This isn't the first time Lotus has made wild claims about its future, but this time it might actually have the funds to pull it off. We knew that an SUV was in the pipeline, leaked patent images may have revealed its exterior design, but the sedan and the second high-riding model are new additions to the company's product roadmap. Lotus explained its so-called "premium lifestyle" vehicles (read: four-door models) will all ride on a new platform called Lotus Premium that's said to be highly modular. Its wheelbase can vary from about 114 to 122 inches, and it can take battery packs with a capacity of 92 to 120 kilowatt hours. It's also compatible with an 800-volt charging system, and Lotus claims vehicles built on the new architecture will be capable of reaching 60 mph from a stop in less than three seconds. As for the other news, while Lotus ostensibly remains based in Hethel, England, its historic home, the Lotus Technology subsidiary broke ground on a new facility in China in August 2021. Lotus explained it formed the division to develop batteries and energy management systems, electric motors, electric control systems and other EV components. Investing in Wuhan rather than in Hethel will certainly raise more than a few eyebrows. It's a move that brings Lotus closer to its parent company and some of its key investors, such as Nio, while pivoting it away from its historic home and its main markets.

Lotus announces Exige V6 Cup racer

The Lotus Exige is once of the most focused race cars that you can purchase on the market today, but for those individuals who desire to track the mid-engined racer, Lotus has released its latest no-frills, all-go racecar: the Exige V6 Cup.
The Exige Cup features a supercharged 3.5-liter V6 making 346 horsepower, enabling the 2,380-pound race car to get from zero to 62 mph in just 3.8 seconds. Power is put to the road with the help of Lotus Dynamic Performance Management, which allows for Touring, Sport and Race settings for the engine.
The Exige V6 Cup also features revised aerodynamics in the front fascia and rear diffuser, and it rides on a fully adjustable suspension that reaches the road with special wheels wrapped in Pirelli P-Zero Trofeo tires.

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: