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Aston Martin and Lotus each issue recalls

A pair of head-turning high performance cars are catching some attention off a different kind, in the form of safety recalls. Aston Martin and Lotus have issued recalls for the V12 Vantage Coupe and Evora, respectively.
Aston Martin's affects 169 examples of the 2009-2012 V12 Vantage Coupe. It concerns the tire-pressure monitoring system, and is less a malfunction than it is a compliance issue. The TPMS does not alert the driver until the front tire is more than 25 percent below the recommended cold tire pressure. Federal Motor Vehicle Safety Standard No. 138 states that the alarm must sound when tire pressure is "equal to or less than either the pressure 25 percent below" the recommended cold inflation pressure. To address the issue, Aston Martin will notify owners and reprogram the software, free of charge.
As for Lotus, 80 supercharged Evoras have been recalled, all built between February and September, 2011. The problem involves an engine-mounted oil feed pipe, which could rupture, causing loss of engine oil or a possible fire if the oil sprays onto a hot engine.

Renault paid GBP1 to buy back its F1 team

Running a Formula One team is anything but cheap and straightforward, but it didn't cost Renault much to reacquire the Lotus team from Genii Capital. In fact, according to the latest reports, the French automaker paid just GBP1 – less than a buck fifty – for the privilege. Still, the process was deeply complicated. The reason Renault was able to get it so cheap is because the team was deeply in debt, part of which Renault will now assume. Less than a year ago, the team was said to be nearly $200 million in the red, and just a few months ago Renault came to its rescue to pay a $4 million tax bill to the British government. Under the terms of the new deal, Renault will assume the debt that the team's previous owners had accrued, but will be spared the nearly $150 million which its stakeholders loaned to the team. The history of the outfit based in Enstone dates back to 1981 when it was founded as Toleman Motorsport. French fashion giant Benetton bought the team in 1985, which in turn sold it to Renault in 2000. A decade later, after two world championship titles, Renault began stepping back its involvement in the team and gradually transferred ownership to investment firm Genii Capital, which has run it ever since under the Lotus name that it secured from the automaker under contract until 2017. Unable to fund a competitive team, Genii has now sold the team back to Renault, but the financial intricacies of the deal are far from straightforward. To start with, Genii and its subsidiary Gravity Motorsports (the team's parent company) didn't hold all the shares in the operation, so it bought back over 6 million shares from Whiterock Alliance to add to its own 60 million shares. The vast majority of those shares were then transferred (for that princely sum of GBP1) to Gringy (UK) Ltd, the shell company that technically owned the team in its Benetton days. Gringy (a wholly owned subsidiary of Renault) will hold a 90-percent stake in the team, with the last 10 percent remaining in Genii's hands and those of its investors. In the process, the outfit will now rejoin the likes of Ferrari and Mercedes among the F1 teams developing their own powertrains. Related Video: News Source: Motorsport.comImage Credit: Dimitar Dilkoff/AFP/Getty Earnings/Financials Motorsports Lotus Renault F1 genii capital

The Lotus Evija is the company’s first all-electric hypercar

Internally known as the Type 130, the new Lotus Evija combines several firsts for the British company into one wild shape. First of all, it’s the companyÂ’s first in-house all-electric car – the Lotus chassis provided to the likes of Tesla for the first Roadster doesnÂ’t count. ItÂ’s also the companyÂ’s first hypercar, claiming an astonishing (and provisional) 1,973 horsepower. Perhaps more importantly, itÂ’s the first all-new car from the company since the Evora, and the first to be conceived entirely under the ownership of ChinaÂ’s Geely. Yup, thatÂ’s a lot of firsts. ItÂ’s not the first EV hypercar – itÂ’ll have competition from the likes of Rimac and the upcoming Pininfarina Battista, plus the next-gen Tesla Roadster assuming that does eventually hit the market – but itÂ’s definitely early on the scene. And just look at it – the styling is wild, incorporating some continuing Lotus themes – particularly around the greenhouse – but with an overall direction thatÂ’s much brasher than the companyÂ’s other products. The deep side sculpting resembles is complex and stylized, as are the rounded, narrow quadrangle taillights supported by a massive rear diffuser. The front is arguably the least distinctive and biggest departure for the company. The verticality of the headlamps seems like a blend of the Ferrari F8 Tributo and the old Lamborghini Gallardo, without really aping either. Look closely and it appears to be an evolution of the shape of the EvoraÂ’s lamps, but without that context fresh in your mind itÂ’ll appear more generic supercar than something uniquely Lotus. The bodywork has some neat party tricks. Active aerodynamics allow for an F1-style Drag Reduction System, and thereÂ’s a deployable rear spoiler. There are no fixed side-mirrors; little cameras deploy from the front fenders and another camera embedded in the rear of the roof provides a rear view. ItÂ’s also different. The extruded, bonded aluminum architecture weÂ’re familiar with from the Elise/Exige line and the similar but unique Evora are gone, replaced by a company-first one-piece carbon fiber monocoque tub. Lotus is targeting a curb weight of approximately 3,700 lbs, and the lightweight tub (just 284 lbs) contributes to that.  The battery is housed behind the seats, and feeds power to four individual motors, providing all-wheel drive and infinitely variable torque vectoring.