2011 Lotus Evora S on 2040-cars

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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

Lotus spotted testing more extreme Elise on the Nordschleife

If we had a nickel for every version of the Elise that Lotus has rolled out over the years, we might actually have enough spare change to buy one ourselves. And we're not even talking about the entire separate models (like the Exige and Europa) that Lotus has based on the Elise's platform or the other automakers' cars (like the Tesla Roadster and Hennessey Venom GT) that have used the same. And now Lotus appears to be testing another one.
Spotted lapping the Nürburgring, what we're looking at here appears to be the track-bound Elise S Cup R, but our intrepid paparazzi by the side of the track tell us it's missing the switches for the battery isolator and fire extinguisher. In their place, this Elise is wearing an even bigger rear wing as part of an altogether rather aggressive aero kit - not to mention a rockin' matte red wrap.
All of these telltales make us think Lotus has something extreme in the works, and we could find out what exactly it is as early as the Paris Motor Show in October, so stay tuned and watch this space.

This Lotus Evora 410 is a custom tribute to the original Esprit

We love the Lotus Evora, whether it's in the current 400 trim or new 410 trim, and now an enthusiast has ordered up perhaps the coolest livery. It's an Evora 410 in an Esprit tribute scheme. And it isn't modeled after just any first-generation Esprit, but rather the car featured in the James Bond flick, The Spy Who Loved Me. The car is a one-off commissioned by a customer through the Lotus Exclusive program, which offers buyers the opportunity to have the car customized with special paint, graphics, body work, and interiors. In the case of this particular Evora 410, the car has a white paint job and features a bumper and blacked-out grille. Extending from the top of the grille is a black stripe that bisects the body. These cues represent the black bumper and stripes of the Esprit. Another nice touch is the Evora name on the panels just aft of the side windows. They've been written in the same font as the classic Esprit. Lotus also points out that the bare carbon-fiber engine cover is meant to look a bit like the glass hatch of the original car. They're all simple, subtle touches, but they come together to create a classy and convincing tribute. Inside, things only get better. The upholstery features Tartan inserts that were popular and common on '70s sports cars. The shift knob is also now made from wood. They're joined by a heaping helping of black Alcantara and red stitching. Mechanically, this Evora 410 is effectively unchanged from the standard model. But as we said, that's fine since the standard model, with its 410-horsepower supercharged V6, is excellent. It should be noted though that, being a standard 410, it does not have the ability to travel underwater. As mentioned at the top, this car is presently a one-off built for a customer using Lotus Exclusive. So don't expect to start seeing these at dealer lots. However, you probably could still order a similar car through Lotus Exclusive. Or you could use the program to customize your Evora 410 some other way, say in black and gold like the John Player Special Lotus F1 cars, or maybe the company's green and yellow racing colors. All we're saying is, as cool as this is, don't let that restrict you from trying something new. Related Video: