Beautiful V-8 Esprit-ap Brakes on 2040-cars

Auto blog

Lotus recalls 2008-2011 Elise, Exige and 2011 Evora over fire fear

Lotus is recalling 860 vehicles after discovering that the oil cooler hose could detach from its fitting. Should the hose separate, it could spray oil on one of the lightweight car's tires, giving new meaning to the phrase "sudden loss of grip." The other case is, believe or not, more dire, as the spraying oil could hit the engine and ignite. Of course, neither situation is desirable, hence the recall.
The vast majority of the affected vehicles (780 of the 860) are the 2008 to 2011 Elise and Exige, built between November 2007 and July 2011. Another 80 Evora S coupes from 2011, manufactured between September 2010 and September 2011, are also included in the recall.
All repairs will, naturally, be completed free of charge. In the Elise/Exige's case, that means replacing the hose fittings, while the affected Evoras will get a new hose assembly.

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.

Lotus to add 2 new sports cars by 2020, SUV by 2022

British sports carmaker Lotus will bring two new sports cars in 2020 with an SUV right behind them in 2021 or '22, becoming the brand's first all-new vehicles since it began production of the Evora back in 2009.CAR Magazine reports the news in an interview with Lotus CEO Jean-Marc Gales. Of the two cars, he said only that one will be a replacement for an existing car, with the other likely to be a limited-edition, track-focused car slotted above the Evora. It'll base the cheaper of the two on an evolution of Lotus' bonded aluminum chassis, while the other will get a new carbon-fiber chassis and become the brand's new performance flagship. Chinese automaker Geely, which also owns Volvo, purchased a majority ownership stake in Lotus last year, adding what's hoped to be a measure of stability and badly needed investment to years of ownership changes and endless re-iterations of existing models. With Geely money backing the operation, it's likely these two vehicles will be more likely to come to fruition than the last batch of ambitious concepts from the company, which included a new Esprit, Elite, and Elan. Those never progressed beyond the concept stage. The company soon after revealed the Evora GT430 as its fastest, most-powerful road car to date, with a 0-to-60 time of 3.7 seconds, and it put the same supercharged V6 in the Exige to bump up horsepower to 430 and increase torque to 325 pound-feet. Meanwhile, Lotus is ending production of the 3-Eleven this year, and Gales has previously said the company was developing a new Elise for 2020, so it's likely that's one of the new cars. The Elise and Exige were withdrawn from the U.S. back in 2011. The new vehicles will benefit from technology from Geely's network of suppliers, and Geely is also apparently hiring new Lotus staff and investing "millions" in Lotus' production lines. Lotus said its sales were way up in both Europe and the U.S. during its last fiscal year, and while the brand still lost money it narrowed its financial losses and said it expected to be profitable before tax for the current fiscal year.Related Video: