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Lotus sells loads more cars, earns way more money

Sports-car company Lotus has reason to be excited. It released some facts on its sales and financial performance for the 2016 and 2017 fiscal year, and it has seen some impressive improvements. According to the company, it sold nearly 60 percent more cars in mainland Europe compared with the 2015/2016 fiscal year, and it sold six times as many cars in the U.S. compared with that year. This helped it go from a loss of GBP16.3 million for the previous year in earnings before interest, taxes, depreciation and amortization (EBITDA) to a GBP2 million profit EBITDA. The fact that those numbers are given before all those extra expenses is noteworthy, though, as it means the company isn't truly profitable yet, despite major gains. The company did report numbers that only excluded tax, and those show the company still lost money. But the good news is that it lost much, much less money than the year before. Before taxes for the 2015/2016 fiscal year, the company lost GBP41.2 million, and this year, it only lost GBP11.2 million. The company expects it will be profitable before tax in the coming year. So Lotus isn't perfectly healthy yet, but this, combined with Geely's recent acquisition, shows it's well on its way to becoming fit as a fiddle. We like the cars Lotus makes, so we hope that things keep getting better, and that we'll maybe get more Lotus models in the future, beyond just the Evora road car and 3-Eleven track car. Related Video: Featured Gallery 2017 Lotus Evora 400: First Drive View 29 Photos Image Credit: Lotus Earnings/Financials Lotus Coupe Lightweight Vehicles Performance

Lotus opens the 2013 Formula One season with the launch of the E21 [w/video]

Lotus has broken the seal on the 2013 Formula One season, launching the E21 car at its factory in Enstone. With the regulations this year quite similar to those of last year, there are no dramatic changes in form compared to the E20. After some teams lobbied to be able to cover the stepped nose with a "vanity panel," Lotus retained the configuration, the team's technical director saying that the panel would add more weight and didn't make sense to put on the car unless it also added performance.
Beyond that, the E21 is said to be an comprehensive advance in its details - the suspension gets a new layout, the Coanda exhaust and the passive double DRS system are evolutions from last year, the front wing is "a continuation of concepts" from 2009.
After securing fourth in the Constructor's Championship last year, this is the chassis that drivers Kimi Räikkönen and Romain Grosjean will use to try and move the team up a place, which would mean beating one of the big three teams over the course of the season. The quietly and impressively consistent Räikkönen managed third in the Driver's Championship, and we're sure he wouldn't mind a move up in the standings, either.

Lotus Evija whirs onto Quail lawn to tempt 130 prospective customers

At last, we've met the Lotus Evija in its compact, electric-charged glory. The carbon-fiber-bodied electric supercar looks like liquid metal poured over some skeletal biologic form. The coupe represents the first all-new Lotus since the ten-year-old Evora went on sale, the first Lotus developed wholly under Geely ownership, the first in-house all-electric vehicle from Hethel, the first Lotus with a one-piece carbon fiber monocoque tub, and the first one Hethel HQ will send to the Nurburgring to break a lap record. Lotus announced that lap record tilt saying it should be "comfortably quicker" than the all-electric NIO EP9 road-legal EV that ran a 6:45. That has since been broken by the 6:05 figure Volkswagen achieved with its ID.R, a purpose-built electric race car. The 'Ring doesn't yet divide EV times into classes, so we'd still like to see Lotus go for outright honors. That is indeed unfair, but the Evija has the numbers to at least make a go of it. The four electric motors in the ID.R produce a combined 680 horsepower and 479 pound-feet of torque to move a car weighing 2,500 pounds. The Evija's 50 percent heavier at 3,700 pounds, but has almost triple the horses and more than double the torque, its two motors making a combined 2,000 horsepower and 1,254 pound-feet of torque. It does have active aerodynamics, including a moving rear wing, but it's still short a bunch of race aero, a giant front splitter, and a DRS button. No matter how the German caper turns out, we expect Lotus will be able to find homes for all the Evijas it offers for sale. Only 130 will be made, each one starting at around $2.1 million.