When Lotus isn’t engineering cool cars like the Evora, dealing with PR snafus, or worrying about whether or not it’s going to be sold in a few months, it takes on contract work to lighten vehicles for other firms.

Most recently, the company known for having feather-light sports cars consulted with the California Air Resources Board to work on altering a Toyota Venza for improved fuel economy at no additional manufacturing cost. It achieved the feat by lightening the car 36 percent.

As you might expect, that isn’t a simple task. In a yet-to-be-released report previewed by Automotive News Lotus attacked the challenge by replacing the car’s standard steel frame with a body-in-white composed of magnesium, aluminum, high-strength steel and composite materials. The trouble is, that procedure also added 50 percent to the cost.

Not to be defeated, the company then consolidated the roughly 400 parts that go into making the rest of the car down to a scant 170 pieces. Doing that shrunk the cost by 57 percent, meaning the car would be significantly more fuel efficient while effectively offsetting the new expense.

It might seem strange that a company in the middle of such serious perceived turmoil would double as a weekend efficiency expert, but then again it’s the same brand that has a reputation for being car lovers first and a serious company second.

What is serious, on the other hand, is how much the modded Venza stands to gain. Lotus Engineering’s North American head Darren Somerset said for every 10 percent a car loses in weight, it gains between 6 to 8 percent in fuel efficiency. When it’s all shaken down, the car cost about 3 percent more than the stock version, but got 23 percent better mileage.

While Toyota didn’t conduct the experiment, the California Air Resources Board hopes that by demonstrating the viability of such technology it will encourage automakers to reexamine how cars are built.

[Source: Automotive News]

Poor Lotus. The company that just wants to make cool cars is still caught in the middle of a corporate acquisition that threatens the company’s existence one day and reassuringly cooes to it the next.

At least the latest suggests that the company has a stable future ahead, though for how long nobody can say. The tumultuous story started when Lotus’ parent company Proton was taken over by DRB-Hicom. Since then, production shutdowns and uncertainty have characterized the British automaker’s status.

Last week, a DRB-Hicom executive stopped by the Lotus headquarters to reassure employees of their future. It seems the due diligence that sparked this uncertainty to begin with is still in progress, but that financial support will continue during the process.

Development on new models is moving forward for the company and the 60-day production halt is over. Lotus was a key asset in purchasing Proton according to DRB-Hicom. The company has been in a holding pattern for quite a while, which is damaging to business, but it doesn’t look like anything will change until change drastically until the company comes to a final decision about Lotus.

Lotus has adapted it’s Evora GT4 endurance racer for homologation in the Grand-Am Rolex Sports Car Series and has confirmed at least one team will compete using the car.

Called the Evora GTC it’s over 60 lbs lighter than the Enduro car at just under 2,500 lbs. thanks to carbon-fiber used for the doors, roof and engine cover while Plexiglass is used for the windows. In addition, the car gains traction control and a BOSCH anit-lock bracing system.

Helping with grip are wider wheels and tires with 18×10-inch fronts and 18×12-inch rears. And to accommodate for the new rollers on the Evora GTC are wider wheel arches.

Power remains the same with the same 4.0-liter V6 engine making 450 hp mated to an XTRAC six-speed sequential gearbox.

Bought by McMahon Raceworks and Condor Motorsport, the team plans to enter the new Evora GTC in the Grand-Am series, though it’s not clear if they will be competing this season.

Ayrton Senna is one of the most recognized names in the F1 world, and it was 18 years ago today, on May 1, 1994,  that he passed away after a crash at the San Marino Grand Prix. To celebrate the man, German customizing company Cam Shaft has released a special one-off Senna styled V8 Lotus Espirit. 

Senna drove for Lotus, and this one-off Espirit is dressed up with the legendary John Player Special 97T livery that Senna’s Lotus-Renault Formula 1 car wore when he won his first F1 title in at Estoril in 1985.

Some performance mods were made to the car as well, namely an ECU remap which results in 492hp that allows the car to hit a 0-62 mph time of 4.3 seconds and a new top speed of 191mph.

GALLERY: Lotus Espirit Ayrton Senna Livery

[Source: Cam Shaft]

The Infiniti Emerg-E was unveiled at the 2012 Geneva Motor Show as Infiniti’s first mid-engine sports car, but not previously disclosed was that the base of concept was actually the Lotus Evora 414E Concept. 

This borrowed design resulted from Infinti developing the car in partnership with Great Britain’s Technology Strategy Board, a government agency which supplies funding for companies looking to make advancements in new car tech that is focused on reducing emissions. Involved heavily in this organization is Lotus, so the company’s technology was offered up as a study for Infiniti to develop its new car.

The design of the car is all from Infiniti, who were trying to capture a fluid design to give the car an air of graceful power, rather than the Lotus which is a little more aggressively styled. The interior is also a complete Infiniti design, going for a more luxury feel than the Lotus ever did. However, this is where the changes stop.

The chassis of the Emerg-E and the Evora is made from all aluminum sections bonded together to form a rigid lightweight assembly that weighs in at 450 pounds. The suspension and brake systems use all lightweight metals, and are also identical between the Evora and the Emerg-E. Powering the car is two electric motors and a single gas motor, with each electric engine hooked to one of the rear wheels driven through a single speed transmission, making a differential  unnecessary. A small 3-cylinder gasoline engine will assist the electric motors, enabling the Emerg-E to make the 0-60 mph sprint in four seconds according to the company.

This platform sharing makes the Emerg-E a much more likely candidate for production because the tool and die sets to make the vehicles platform already exist, cutting down significantly on initial start up costs. Infinti also announced that more than one of these cars was put together for testing, signifying a stronger need to test the vehicles capabilities in the real world.

British sports car firm Lotus has been battling with finances and trying to secure its future ever since its parent company Proton, which was Malaysian state owned, was sold to DRB-Hicom.

Now, there is once again good news on the horizon. Lotus Cars has secured enough investment from DBR-Hicom to continue production at full capacity within the next few days, as production was halted last month over financial concerns. Plus Lotus will be once again able to start work on its new wave of products, which starts with the new Esprit supercar, coming by the end of 2013.

The company is planning to introduce four new models within the next five years, while in the mean time focus remains on production of the Evora, Elise and the new Exige S (pictured), which has just been launched in Europe.

For some time, it looked like Lotus would be sold to the Chinese, but CEO Dany Bahar says; “It’s just not true. There is no fire sale, no selling process and no bidding. If there were, lots of strange people would be here doing inspections and due diligence, but there is nobody. Besides, I have no authority to sell the company. That’s a job for the shareholders. I am just an employee.”

That being said, new details have emerged which suggest the company will be sold to a Chinese buyer.

So, is this the end of troubles at Lotus? That only time will tell.

For now, Lotus is back in action and will also be actively taking part at this years Goodwod Festival of Speed, where it is the featured marque. This year also marks the 60th anniversary of the Hethel based company.

[Source: Autocar]

Lotus‘ Malaysian owner DRB-Hicom is seking a Chinese buyer for the brand as recently as last night, flying in the face of information included in the automaker’s much-publicized “rant” press release from April 12.

According to British Member of Parliament Richard Bacon, the news emerged just before a parliamentary debate meant to discuss Group Lotus’ future and the 1,200 British jobs consequently concerned.

In the April 12 release, Lotus said that it had no indication from DRB-Hicom that it would be put into administration, but that the new owner was performing its due diligence. While administration and being put up for sale are two completely different things (administration refers to a company being run by an external, independent source), it would seem like a logical assumption that selling the company would be even further form the horizon.

Then again, maybe not. The release said due diligence was being performed — not that it had been completed. It’s conceivable that during said review, a sufficient list of issues emerged to make Lotus seem like a poor choice to keep on board.

Bacon also said the debate aimed to counteract exactly what seems to have happened in the hope of saving the jobs Lotus provides. It’s difficult to know exactly what this means for the marque, but it hasn’t sold yet. Should that happen, it could signal an era of new Lotus vehicles, or just its absorption into a Chinese automaker’s automotive technology vaults.

Finally, it’s important to remember that DRM-Hicom hasn’t made an official statement about the sale yet. Nothing has actually happened and there won’t be a sale without a buyer.

[Source: Autocar]

Throwing a curve ball right down the media’s throat, Lotus issued a press release today that aimed to disarm and diffuse the flurry of speculation and jokes.

It did so by writing in completely unacademic, and some might argue, unprofessional style. Above the text, a borrowed copy of Sniff Petrol’s satirical photo (seen above) that portrays CEO Dany Bahar as “Baghdad Bob,” Iraq’s ex-information minister notorious for insisting things were fine.

Here’s a quick recap of what lead into today’s hilarious SNAFU.

Lotus hasn’t ever been much of a money maker for its parent companies, in fact it’s been quite the opposite. That’s why questions about the company’s future promptly popped up when Lotus’ Malaysian parent company Proton was bought by DRB-HICOM.

Since then, many pokes, jabs and speculations about both the state of the company and its future fueled a flurry of media speculation and finally a press release from the company hoping to set the record straight.

Unfortunately for them, dropping the gloves and writing candidly looks a little like a hissy fit. While that was almost certainly not the intent, it’s easy to see how the release, which the company posted on its Facebook page, could be taken that way.

Sure, it’s a little hot-headed and maybe a bit of a bad move, but it’s nice to know that Lotus, a company known among auto journalists as being a group of passionate car guys above all else, dropped the filter for a bit and made fun of itself.

The release addresses five rumors which the company says are all false. Those issues range from people saying Bahar is no longer the CEO to accusations of serious journalistic bias, and finally the big one: its future as a company.

“The takeover of our parent company Proton by DRB-HICOM couldn’t have come at a worse time, but up until that point Proton was (and still remains) fully committed to our five year business plan to create jobs and to expand the factory and business,” the release said. “At no point has DRB-HICOM indicated to Group Lotus that it intends to put the company into administration. The over-active rumour mill is seriously damaging our business reputation, image and credibility but it is what it is.”

Closing on an almost pleading note, the release acknowledges and addresses Lotus’ recent hardships, saying: “The simple fact is, and we haven’t denied this – Lotus is going through a very difficult phase at the moment but we are showing true fighting spirit every day in trying to keep this vision alive. This is also a fact – no matter what people outside of Lotus may say or tweet or blog.”

Earlier warning signs were brought to attention this year when Lotus’ Malaysian parent company Proton sold a controlling stake to another Malaysian conglomerate, DRB-Hicom. As per Malaysian law, Lotus had to halt all business operations and freeze its financial accounts during the 60-day transition period.

The 60-day period ended in March and now, new owner DRB-Hicom is currently conducting the due diligence of Group Lotus, investigating worrisome figures including Lotus’ $320 million in accumulated debt.

Due to the mounting concerns, rumors have spread that Lotus may be put into administration to free itself from debt and that even CEO Dany Bahar has been let go from the company. What’s more, in line with our reports earlier this year, Chinese automaker Zhejian Youngman Lotus Automobile (Youngman) is a potential buyer of the brand, placing a bid on its remaining assets, including naming rights. The official importer of Proton and Lotus cars in China, Youngman is perhaps better known for its past failed attempt to purchase the now defunct Saab.

So far, a Lotus spokesperson has denied these rumors and insisted that DRB-Hicom and Lotus executives are working to keep the business running as usual, ”There have been and continue to be positive discussions between Group Lotus senior management and senior management at DRB-Hicom both here in Hethel and in Malaysia. Despite various rumours in the media to the contrary, at no point has DRB-Hicom indicated to Group Lotus that they intend to put the company into administration and we welcome the opportunity to put that rumour along with incorrect speculation that production has stopped, that Dany Bahar is no longer CEO and that we are no longer involved in F1 to bed.”

The spokesperson adds, “It’s no secret that we are going through a very difficult time at the moment due to the change in ownership but we’re doing everything we can to get through this period and come out the other side stronger than before.”

Optimistic words, but something definitely isn’t right in the house of Lotus. Stay tuned for more information as the situation continues to develop.

[Source: AutoCar]

Despite terminating its title sponsorship deal with Group Lotus, Lotus is committed to keeping its name in Formula 1 for the imminent feature. Confused? You should be.

Group Lotus was recently sold by Proton to Malaysian automotive corporation DRB-Hicom, causing Lotus F1′s team owner Genii Capital to end its formal relationship with Lotus. Just a week ago, we reported that Proton might be interested in acquiring Team Lotus F1, but that appears to be off the table now.

Despite the end of the Group Lotus sponsorship, Genii owner Gerard Lopez remains committed to the Lotus name. Lopez has recently agreed to a deal for title sponsorship on the F1 team, something he originally put together back in 2010, but that has been canceled and Proton’s option to buy 50 percent of the team has also been removed.

“We are happy to carry the Lotus name as we believe it is a good name for F1,” Lopez explained in a recent interview with Autosport. “We funded the team last year and the year before for whatever delta was missing. We would prefer to have sponsors up to the full amount – but if we have to fund it then we will fund it.”

Sponsorship deals that Genii had secured included Unilever and Microsoft, two companies that were arguably game changers in F1. Lopez also elaborated that buying Group Lotus isn’t entirely out of the question yet, but the organization would like to know what the new owners plan on doing with it.

[Source: Autosport]

 For the first two races of the 2012 Formula 1 season, Team Lotus has received a mixed bag of results. Formula 1 World Champion Kimi Raikkonen finished both races in the points despite mediocre qualifying. Meanwhile, GP2 champion Romain Grosjean displayed rapid pace during qualifying but suffered a DNF for both races.

Such is the mix of fortunes in motorsports. A long and illustrious name in Formula 1, the Lotus F1 team withdrew from the series in 1994 and only returned in 2010. However, while Syed Zainal Abidin Tahir, managing director of Lotus parent company Proton, and Lotus CEO Dany Bahar are both appointed team board members, ownership of the F1 team in fact belongs to Luxembourg-based private equity firm Genii Capital. Now, between Lotus and Genii Capital, the future of the team is up for grabs.

A precarious situation, Genii Capital may even consider to buy out Lotus itself if the sports car manufacturer struggles to break through in its production car operations and continues to suffer heavy losses. To note, Lotus made a £21.4 million pre-tax loss last year while Proton’s profits have begun to show a trend of decline. In January, the Malaysian government sold its 43% controlling stake of Proton to DRB-Hicom, a Malaysian Corporation involved in the automotive manufacturing, assembly and distribution industry. Genii Capital chairman Gerard Lopez has previously exchanged with DRB-Hicom on the possibilities of selling Lotus. Lopez said,”If there is a way that we think the company can be bought and run successfully, then of course we would be interested.”

Despite the financial obstacles, Lotus and Proton remain true to their racing commitments. Lotus spent approximately £25m annually to sponsor the F1 team that bears its name and parent company Proton also supported the team an estimated £34m to satisfy debt obligations concerning secured loans with Renault and bankrupt Lithuanian bank AB Snoras. Also, more than having members on the team board, a signed call option agreement with Genii on February 3rd entitles Proton the right to purchase a 50 percent stake in the team to become majority shareholders. Proton has yet to execute the option but this may only be a matter of time.

We will learn more as the negotiations progress and as the Formula 1 season unfolds.

[Source: PitPass]

In the realm of higher end automobiles, the term bespoke is often seen as a logical extension of the brand; the ability to make an already exclusive vehicle into a one-of-a-kind, made to order machine.

That’s the idea, at least in theory, about the latest venture between Lotus Cars and German luxury vehicle tuner Mansory, who will be officially collaborating on bespoke Lotus builds.

The two firms previously partnered on the Evora GTE, resulting in the chrome red Swizz Beatz example and also the Lotus F1 edition, finished in raw carbon fiber (displayed at the 2012 Geneva Motor Show). The F1 Edition has proved highly sought after, so the logic goes, why not develop a bespoke program that can result in similar pent-up demand for future limited edition models?

According to Lotus, Mansory will become its “Official Customization Studio,”  and will be working closely with Hethel’s designers and engineers “to produce modifications that scream individuality and quality.”

That said, with Mansory noted for producing customized Bentleys, Lamborghinis and Range Rovers that are high on the bling factor, the partnership between the two firms is likely to make some purists cringe. Needless to say, for Lotus, which is under increasing pressure to turn a profit and is looking for potential buyers, the idea that people are often willing to pay for bespoke machinery, regardless of taste, can only serve to make the storied sports car concern more attractive to potential suitors willing to invest in the sports car maker’s future.

It also represents a good way of pursuing alternative income strategies, especially as development of core models is currently suspended due to a lock down instigated by current Lotus parent DRB-Hicom.