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Renault bailing out Lotus F1 Team to pay $4M tax bill

The road ahead looks to be clear for Renault to reacquire the Formula One team that once bore its name. The latest reports have it that the French automaker is prepared to pay a multi-million-dollar tax bill to the British government to keep the Lotus team from entering bankruptcy proceedings. According to the report from Autosport, the Lotus F1 Team owes a massive GBP2.7 million – equivalent to over $4 million at current exchange rates – to the Her Majesty's Revenue & Customs authority for income tax and national insurance (Brit-speak for social security). The team was supposed to have withheld and submitted the funds on behalf of its 400 employees dating back to June, but since it has yet to pay up, it's being taken to court by the UK government. Apparently unable to foot the bill, the cash-strapped team looked poised to enter bankruptcy just as the Caterham and Manor/Marussia teams did last year. But Renault is now poised to step in to the team's rescue. Those with a longer memory for F1 history will point out that the Lotus team – which has little to do with the sports car manufacturer of the same name – dates back to 1981, and has changed title and ownership several times over the years. What was founded as Toleman was then taken over by Benetton. Renault acquired the team in 2000, but sold it to its current owners Genii Capital in 2009. The team based in Enstone, UK, won back-to-back world championships with Michael Schumacher in 1994-95 and again with Fernando Alonso in 2005-06, but has struggled both competitively and financially over recent years. Consigned to an engine-supply role since divesting itself of majority interest in the Lotus team, Renault has been rumored to be preparing to reacquire the outfit from Genii – and in all likelihood switch it back from Mercedes power to its own. Paying the outstanding tax bill will likely emerge as the first step in that reacquisition. Once it takes over full ownership again, Renault is expected to rebrand the team in its own image, and will then have to decide on driver and other personnel contracts for next season. Related Video:

Yeah, it's more than 10 better | 2018 Lotus Evora Sport 410 Quick Spin

Doesn't it drive you crazy when you get a new toy and within weeks they announce a new, improved version? That's exactly what Lotus has done with the new Evora 400. Just as this two-plus-two coupe is wowing US buyers with its combination of light weight and old-school ride and handling, those sneaky devils have gone and produced a lightweight, sport version. Your correspondent attended the launch to test the waters, but in the process found that you'll still have time to enjoy your stock 400 model, since the Sport won't be gracing US shores before next summer – Lotus still has to engineer its lightweight construction for US safety regulations. And will you then want to swap for one at a likely price in excess of $105,000? Read on. Not if you plan to carry the kids, since the new Sport 410 is now strictly a two-seater. The vestigial rear perches, along with the air conditioning, stereo wireless, rear bulkhead glass, sound insulation, door trims, and even the mud flaps have been jettisoned to reduce mass. As a result, you can't see much out of the rear-view mirror except carbon-fiber stays. Other weight-saving measures include new carbon-fiber panels for the roof, rear deck, and front and rear panels. There's a new lithium-ion main battery saving 25 pounds and an optional titanium exhaust system that's lighter and sounds saucier. Total weight saving is 154 pounds compared to the 400, which makes the curb weight a feather-like 2,923 pounds despite the addition of a new transmission oil cooler. It pushes itself into the ground harder, too. Aerodynamic tweaks such as the front splitter and rear spoiler increase downforce from 19 pounds to 40 at 100 mph and from 71 pounds to 141 at 150 mph. Lotus has tweaked its inlet-charge-cooled and supercharged 3.5-liter V6 Toyota Camry engine to yield 10 extra horsepower for a total of 410 (hence the name) at 7,000 rpm and 302 pound-feet of torque at 3,500 rpm. The 410 will hit 60 mph in 4.0 seconds with the six-speed manual, or in 3.9 with the six-speed automatic. Suspension adjustments include re-valved dampers and an effective spring-rate increase thanks to the lighter weight. The hydraulically assisted steering and AP Racing brakes with two-piece rotors remain the same, as does the geared Torsen-type limited-slip differential. The Sport runs on specially forged Magnesium lightweight wheels shod with Michelin Pilot Sport Cup 19/20-inch tires front/rear.

2020 Lotus Evora GT First Drive | Exquisitely analog

OJAI, Calif. — WeÂ’ve glimpsed LotusÂ’s EV-powered, 2,000-horsepower, $2 million future, and itÂ’s a glorious vision, for sure. But the boutique brand has also updated its more attainable gas-powered offerings back here on Earth, in the form of the 2020 Lotus Evora GT. Our first drive offered a revealing (and thrilling) taste of what might be among HethelÂ’s last traditionally-powered sports cars. For those unfamiliar with the Evora, the diminutive 2+2 was launched in 2009 as a grand touring-capable alternative to the laser-focused, ultra-featherweight Elise. Power hails from a Toyota-sourced 3.5-liter V6 with Lotus-modified induction and exhaust hardware, with everything from the throttle calibration to the spark plugs tweaked, and oil sump baffles added to reduce sloshing during high g-force maneuvers. While supercharger oomph was added to the Evora 400Â’s powerplant in 2015 (breaking the, you guessed it, 400 horsepower barrier), the latest GT spinoff incorporates mods from the non-U.S.-spec Evora 430, which brings total output to 416 hp and 317 lb-ft of torque. As before, a six-speed manual comes standard (and accounts for approximately 70% of sales), while an automatic adds $2,700 to the $96,950 starting price. Thanks to an infusion of carbon fiber and composite bits, the Evora GT tips the scales at only 3,175 pounds – for context, thatÂ’s only 33 lbs more than a Porsche 911T – aided by a bonded aluminum tub that manages both light weight and excellent torsional rigidity. Opt for the carbon pack ($10,000), and youÂ’ll shave an additional 71 pounds from the equation. Further mass reduction is available via forged wheels ($3,250) and titanium exhaust ($8,000). Revised aerodynamics in the form of tucked-in wheel arch vents, a slight drop in ride height, and a larger rear spoiler conspire to double downforce, producing 160 lbs of force at the 188-mph top speed. If youÂ’ve ever endured the awkward ingress and egress of a Lotus Elise, the Evora feels refreshingly conventional: simply slide in, click in, and adjust your mirrors diligently because, at least if youÂ’ve ordered the carbon package, visibility through the rear windows is almost entirely obscured by thick louvers. Like that other British performance brand (looking at you, McLaren), Lotus stuck to its guns by retaining a hydraulic steering rack that conveys road surface nuances and feedback with refreshing accuracy.