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Lotus Type 135 electric sports car mixes the Emira with some Esprit

Over the next four years, English sports car maker will make its oft-attempted transformations real by unveiling three "lifestyle vehicles" on its new Premium Architecture. The first is the Type 132 electric crossover, expected to debut in the next few months. After that will come the Type 133 four-door coupe, then the Type 134 crossover that's smaller than the Type 132. In that fourth year, we'll get the Type 135, an electric sports car that will recall the Lotus of old. This electric coupe, sitting on the firm's E-Sports architecture, is being called "a spiritual successor of the Elise," which would be a good thing. The teaser sketch Lotus released to hype up the car also makes us think Esprit, which, as far as we're concerned, is an even better thing. True, there's Elise and Exige and Emira in those exaggerated fenders, but the pointy ends are vintage early Esprit. But the looks aren't the point right now. The reason for the hubbub is Lotus signing a Memorandum of Understanding with British battery firm Britishvolt "to collaborate on research and development of advanced EV technology." The cooperation would put Lotus in charge of "electric propulsion technologies" like motors and control systems, while Britishvolt oversees a "new battery cell package." Goals for the pack are energy density, fast charging and weight reduction. Novel placement is on the menu, too, the E-Sports architecture laid out so that it can also accept batteries in the traditional style under the floor, or behind the cockpit a la a mid-engined sports car. The MOU could give the battery company two clients in one, as the Type 135 will be shared with Alpine across the Channel as well. By the time the Type 135 shows, Britishvolt's $5.1 billion battery factory in Northumberland should have been up and running for two years, ready to supply cells to the Type 135 that will be built at Lotus' historic Hethel, England headquarters (the other Types will be built in Wuhan, China at a manufacturing facility being developed by Lotus parent company Geely). The sports car will come in single- and dual-motor versions powering RWD and AWD trims, those motors expected produce anywhere between 469 and 872 horsepower providing a range of up to 450 miles on the WLTP cycle. The electronics will run on 800-volt architectures, the batteries ranging from 66.4-kWh to 99.6-kWh capacities.  Related Video: This content is hosted by a third party. To view it, please update your privacy preferences.

New models, new markets: Lotus plans major expansion in the 2020s

Lotus was so quiet during the 2010s that some enthusiasts wonder if it still exists. It's alive, it's healthier than it's ever been in recent memory, and it's orchestrating a major expansion that will put it back in the spotlight. Its renaissance starts with the Evija, an electric hypercar packing a 2,000-horsepower punch that Matt Windle, the company's engineering boss, called a trailblazer. Future models will all be influenced by this limited-edition coupe. Beyond that, the company is taking steps to overhaul its entire business, from the design language that characterizes its cars to the restaurant its employees eat at — seriously. Even the cafeteria is getting a makeover. "We're building the brand, building the product range, building the dealer network, and building facilities. There's a huge investment program going on," Windle told Autoblog. "We need to shoot the arrow far enough ahead so that we don't get stuck in the day-to-day problems and instead keep an eye on what we need to do long-term," he added. The company's to-do list is long, and rebuilding a brand is difficult, but Lotus believes it can pull it off. The executive team is betting on an array of new products to reach customers in markets Lotus has little or no presence in; the United States comes to mind. The ultimate goal is to increase the brand's annual volume. Windle understandably couldn't shed light on the product plan, but unverified rumors point to a born-again Esprit powered by a 500-horsepower hybrid powertrain made up of a mid-mounted, Toyota-sourced V6 and electric components provided by sister company Volvo. Another one of the company's future models is an SUV —its first — allegedly built on Volvo bones and aimed at the Porsche Macan. We hear a new Elise is coming, too. The engineer explained his team doesn't feel the least bit constrained by the decades-long heritage Lotus is built on, and it's ready to embrace new technologies as it moves forward. "Electrification has given us the ability to look at things differently," he explained, while clarifying the company's core values (aerodynamics, ride, handling, and lightweight construction) won't be overlooked as it expands. "We will stay true to them," he pledged. "Light is right," the phrase famously coined by Lotus founder Colin Chapman, will live on, then. China-based Geely purchased a majority stake in Lotus in 2017 and it's helping turn it around.

Lotus F1 team $186 million in debt

The Lotus F1 team has fallen on some hard times. Majority-owned by investment firm Genii Capital and having little to do with the British automaker with which it shares its name, the Enstone-based outfit has been widely reported to be in serious financial trouble. The extent of those difficulties were until now unknown, but a new report from Germany's Auto Motor und Sport reveals that the team is in the red to the tune of £114 million - equivalent to $186 million at today's conversion rates.
The lack in cashflow is widely believed to have been the impetus for Kimi Raikkonen's departure from the team in order to return to cash-rich Ferrari, and was one of the major factors in selecting Pastor Maldonado to replace him instead of a more proven and accomplished driver of Raikkonen's caliber. Maldonado brings with him major sponsorship funds from Venezuelan state oil company PDVSA. In speaking with the German publication, however, Lotus F1 chairman (and Genii co-founder) Gerald Lopez revealed that the lion's share of the team's debt - £80 million or $130 million - is with Genii Capital itself, a negative balance that isn't likely to affect the team's day to day. That leaves about $56 million which the team owes to outside parties, including Raikkonen, who has yet to receive the full pay he was contracted for.
The team has opted to sit out the first test session of the Formula One season at Jerez. Its 2014 chassis isn't ready and, given the relatively cold temperatures at this point in the year, the team wouldn't expect to learn much about tire performance and degradation. As far as the new engine goes, Lopez says that any knowledge gleaned by Red Bull, Toro Rosso and Caterham at the test session will ultimately be shared with Renault and through it back to Lotus as well. Lotus engineers helped develop the new KERS system with Renault regardless, so the team already has the energy-recovery data it needs. The team will instead prepare for the second test session in Bahrain, by which point it aims to have its new car ready to kick off the season. Lopez says that it has secured the funding to offset its costs for the season ahead, and that it is working to pay down its debt.