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James Bond Lotus submarine sells in London for $966,560

With the $966,560 sale ($863,000 plus a 12-percent buyer's premium) of the white 1977 Lotus Esprit S1 submarine used in the 1977 James Bond film The Spy Who Loved Me, we now know "the Roger Moore discount."
Recall that Sean Connery's silver 1964 Goldfinger Aston Martin DB5 was sold by RM Auctions in London in 2010 for $4.6 million. Three years later, the same auction company in the same city has sold the aforementioned Lotus for just under $1 million.
An unscientific poll of those in the room showed that people preferred Sean Connery's Bond to Roger Moore's by a rate of four to one. And thus it translated into the bidding for their respective cars. No word on the identity of the buyer or his plans for what is, in fact, a working submarine.

Lotus CEO Jean-Marc Gales abruptly quits

Jean-Marc Gales is out as CEO at sports car maker Lotus after nearly four years and a track record of turning the company from years of financial losses to a small profit. He'll be replaced by Feng Qingfeng, vice president and chief technical officer of China's Geely Auto Group, who joined the company's board after Geely acquired a majority ownership stake a year ago. Gales will continue as chief strategic advisor to Lotus Chairman Daniel Donghui Li. "Jean-Marc has stabilized and turned Lotus to profitability for the first time in the iconic brand's history, with new industry-leading products and unique business models since joining the company in 2014," Daniel, who is also Lotus' chief financial officer, said in a statement. "Lotus is poised for the next phase of growth under Feng Qingfeng's leadership, where its expertise in lightweight materials and sports car engineering will form part of the wider expansion of Geely's automotive portfolio." Gales told Autocar he was leaving for "personal reasons" and said it was "time to move on." He will head up JD Classics, a British dealer and restorer of classic cars. Gales praised his successor, saying Feng could "unlock the synergies" between Geely stablemates Lotus, Volvo, Polestar and Chinese brand Lynk & Co. Lotus under Gales had been working on updating its aging portfolio of cars — the Elise, the Exige and the Evora — with plans to first update the Elise by 2020. Earlier this year came word that Gales had green-lighted two new sports cars, to be announced later this year and produced in 2020, and an SUV about the size of the Porsche Macan and possibly based on Volvo's SPA platform, which underpins the XC60 and XC90. Lotus under Gales saw sales increase 10 percent in 2017 to about 1,600 sports cars. Related Video:

Lotus hits the track with new Elise S Cup R

If you want to take a Lotus to the track but the Exige V6 Cup is a bit too much to handle, the boys from Hethel have a new offering that may be of interest.
The new Elise S Cup R features all the track-tuned bells and whistles of its six-cylinder brethren, including a competition-spec aero kit, adjustable suspension, Yokohama racing slicks on 17-inch forged alloys, tow hooks, remapped ECU, cross-drilled and ventilated disc brakes and an interior with a HANS-compatible bucket seat, six-point racing harness and quick-release steering wheel. But instead of a heavier and more powerful V6, the Elise S Cup R "adds lightness" with the same 1.8-liter supercharged inline-four with 217 horsepower and 181 pound-feet of torque as the road-going Elise S. Yet with all that track-tuned gear, it's a good four seconds per three-mile lap faster than the showroom stock version in the automaker's testing.
Interested parties can pick one up in the UK for £39,125 (before taxes, equivalent to about $63k) and either lap it to their hearts' content at private track days or enter it in one of the dozen Lotus Cup series operating around the world. Lotus only released this one photo (click above to enlarge), but you can check out the full specs in the press release below.