1997 Lotus Esprit V8 Coupe 2-door 3.5l on 2040-cars

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Lotus will go public via SPAC with $5.4 billion valuation

Lotus Technology, the electric-car maker owned by China’s Zhejiang Geely Holding Group Co., agreed to merge with a blank-check company in a transaction that values the combined entity at about $5.4 billion. L Catterton Asia Acquisition Corp. will combine with the EV making subsidiary of the British carmaking group that Geely acquired back in 2017, the two said in a statement Tuesday. The special purpose acquisition companyÂ’s sponsor has ties to Bernard Arnault, the worldÂ’s richest man. Lotus Tech has been looking to go public since at least early last year. Management may have been encouraged by another luxury auto brandÂ’s recent listing: Porsche AG pulled off EuropeÂ’s largest initial public offering in a decade when it debuted in Frankfurt in September. A week later, Porsche overtook Volkswagen AG as EuropeÂ’s most valuable automaker. Rather than go the IPO route, Lotus Tech will merge with a SPAC whose sponsor combined with the private equity operations of ArnaultÂ’s luxury-goods powerhouse LVMH in 2016. LVMH is a passive minority investor in L Catterton, according to a spokeswoman. Arnault overtook Tesla Inc. Chief Executive Officer Elon Musk as the worldÂ’s richest man last month — the first time a European claimed the top spot on the Bloomberg Billionaires Index. While Group Lotus is tiny compared to Tesla, Geely has been steering it away from combustion engines and has several all-electric models planned for the coming years. Lotus Tech sees itself as a competitor to the likes of Ferrari and Aston Martin, and will get a jump on the first electric models from those brands. Lotus unveiled its all-electric Eletre sport utility vehicle last year and plans to launch a rival to PorscheÂ’s popular Taycan EV in 2023. Geely and other owners are expected to retain an 89.7% shareholding in Lotus Tech after the SPAC merger. GeelyÂ’s billionaire owner Li Shufu also controls Swedish carmaker Volvo Car AB and owns stakes in GermanyÂ’s Mercedes-Benz Group AG and the UKÂ’s Aston Martin Lagonda Global Holdings Plc. Deutsche Bank AG advised Lotus Tech on the deal, while Credit Suisse Group AG acted as capital markets adviser to the SPAC. Related video: Featured Gallery Lotus Eletre View 25 Photos Earnings/Financials Green Lotus Electric Luxury Performance

Bond in Motion car exhibit coming to L.A.'s Petersen Automotive Museum

The Petersen Automotive Museum was already a must-see for any car enthusiast visiting Los Angeles, and it's about to get a little better should you also be a James Bond fan. Opening Sept. 25 in the museum's appropriately named Grand Salon gallery will be the "Bond in Motion" exhibit of more than 30 cars, motorcycles, boats, submarines, helicopters and scale models used during the creation of the 24 official James Bond films. The timing corresponds with the Oct. 8 release of "No Time to Die," the upcoming 60th anniversary of the first Bond movie ... and hey, the release of our "All 24 James Bond movies ranked only by their cars." Highlights include many of the most famous Bond cars, including a 1977 Lotus Esprit S1 in submarine guise from "The Spy Who Loved Me," an Aston Martin V8 from "The Living Daylights," a 1999 BMW Z8 from "The World is Not Enough," the Aston Martin DB10 specially made for "Spectre," the post-flipped Aston Martin DBS from "Casino Royale," and one of the 1964 Aston Martin DB5s from the recent movies. I visited an exhibit of the same name back in 2013 at England's sensational Beaulieu Motor Museum. Although the one in L.A. won't be as comprehensive as that, simply due to logistics, many of the same vehicles and props will be present. You can see some of the photos from that exhibit below, and should you be a James Bond fan, can appreciate that it went much further than the Aston-heavy headliners above. In fact, it was hard to see what was missing from the collection. Tickets are on sale for the opening reception Sept. 23 featuring "one-night-only photo opportunities, live entertainment, food and martinis, shaken not stirred." Considering this is Los Angeles we're talking about, it's perfectly plausible this means noteworthy cast members from past films. Prices are $60 for general admission and $199 for VIP access, which includes exclusive access to the exhibit, "007 lounge" and a curated talk, plus complimentary food and a hosted bar.  The exhibit runs until October 2022.  AMC Hornet and Mercury Cougar XR7 View 22 Photos  

Lotus Eletre configurator welcomes virtual tire kickers

The Lotus Eletre configurator is ready to be toyed with. There aren't that many customization options to play with, but the total experience is quite fun. The exterior palette consists of seven colors. The odd bit is that, try what browser we may, we couldn't get the names of those seven colors to appear anywhere. The menu looks like black, green, red, yellow, and three shades of silver, but clicking the latter three reveals what looks like a metallic silver, a flat gray, and a rose-tinted-something. Same with the interior, which comes in green, black, white, or beige. All but black result in a two-tone cabin. Things are much easier when it comes to wheels. The floral petal rims either come in all black or black with polished accents, the center caps are either Lotus yellow or black, and the calipers are either yellow, red, green, black, or charcoal.  For those of you unsure about the Eletre's looks, the well stocked Animations, Beautyshots, and Environments sections could get you on board with the styling — it did for us; a red Eletre under a cosmopolitan setting spoke to us in a way the yellow debut model did not. A couple of notes, though. Choose your colors in one of the Environments; the ambient lighting in the Beautyshots changes the vehicle lighting like in real life, turning the bright yellow calipers into a dusty gray in one instance, for example. The animations that show off features like the aero shutters in the grille and the active rear spoiler need a couple of clicks to perform. And again, just like in real life, the Eletre only does what you tell it; if you leave the hatch up in the Boot animation then click the Spoiler or Front Left Door, the boot stays up. Click to a city environment with the driver's door and hatch open and you'll be crystal clear as to what the Eletre looks at the end of a shopping run, a feature we've never seen in a configurator before. You have your mission and your cautions, now go play. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. 2017 Lotus Evora 400 Review | Autoblog