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Lotus Emira V6 First Edition finally being delivered to customers

In July 2021, Lotus revealed the Emira, its final ICE-powered sports car before flipping to an all-electric lineup. By the time we got to drive it in December 2023, our Zac Palmer wrote, "you can’t spend $105,900 on a single car that would be more fun than the V6 First Edition I drove. There just isnÂ’t another option out there that drives like the Emira, putting it in a class of its own for the enthusiast who wants the most unfiltered experience possible." The problem for Emira buyers reading that — the ones sitting on reservations more than two years old — was that none of them had their cars. Last March, Gator Motorsports' franchise Indy Lotus in Indianapolis sent a letter to reservation holders explaining the holdup as U.S. certification, specifically certification by the California Air Resources Board (CARB). At the same time, CarBuzz reported that Emira V6 First Edition units destined for the U.S. would land here last summer but wouldn't be released to customers until between mid-October and mid-December. Except Lotus dealers then had to explain to buyers in January of this year that cars here were getting a software update, likely for certification purposes. The U.S. Environmental Protection Agency had given the Emira its blessing, but Lotus didn't want to deliver units that couldn't be registered in the 14 states that adhere to CARB mandates, so it held all of them (and perhaps prevented some car-flipping). At the end of last month, the Californians approved of what Lotus had done with its engine programming, freeing the Emira to head to good homes. At one point, Lotus planned to have cars here in time to get into the 2022 model year, now it's a 2024. On the Emira Forum, in a thread about USA and Canadian delivery that's grown to more than 500 pages, someone posted the CARB approval on March 2, page 461 of the thread. The first response from a forum member in Stage 4 of the Five Stages of Grief — mentioned just four posts earlier — was, "Is this legit? This isn't something you did as a joke on the forum?" It's no joke, other forum posters are reporting that they are receiving their cars. Nay, twas not a joke. What's also serious is a higher price for the eventual entry-level trim, the Emira First Edition powered by an AMG-sourced turbocharged 2.0-liter four-cylinder engine.

Lotus Type 132 gets another teaser in before debut

Lotus has teased the Type 132 for what could be the final time before the battery-electric crossover debuts next Tuesday, March 29. Swinging for the fences with a special guest star that would help forestall the inevitable discord about Lotus making what will be a weighty crossover, Lotus enlisted Clive Chapman, son of company founder and legend Colin. Clive mentions Colin keeping a practical family car in addition to some variety of orthodox Lotus sports car, and says he thinks his father would have loved the chance to design something like the Type 132. Perhaps it's true. Yet, although Clive mentions practicality and towing and farming and a popular explosion of four-wheel-drive vehicles in the 1970s, Colin is never shown with one in the video. The best Colin does for practical is a Lotus Eclat, which everyone, even today, would likely accept as Lotus' version of a family car.  The video does offer one unquestionably honest bit, which is a silhouette of the Type 132. It's going to be sharp and racy, no doubt about that, and we like the look of it. Separate to the video, additional honest views of the Type 132 have been uncovered in another set of patent images. The Australian patent office let slip renderings of the CUV's exterior early this month, Spanish outlet Cochespias landed on images of the interior placed with a different patent office. They show some expected EV features like a flat floor and a two-level center tunnel with a floating console up top. They show us some expected luxury features like shapely and powered front sport seats, powered rear seats, and a full-width climate control vent design in front. They show some unexpected inclusions like a what appears to be a giant glove box door, and rear seat surfaces that could be a toss-up for comfort — but of the shut lines are accurate, those seats fold down in ways to make the most of the load bay. There's a large infotainment screen that allegedly lies flat on the instrument panel when not in use. And note what might be two cupholders on the center console, one of which might be tiny.  The slim extensions on the exterior views from earlier this month weren't just conceptual. The door panel in the interior renderings shows a blank square ahead of a speaker that should be a screen displaying the feed from the side camera. If anything, the only thing the drawings leave out is how long the vehicle appears to be, based on spy shots of the Type 132 testing in China last month.

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