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 |  Jun 24 2011, 6:30 PM

Lotus has officially confirmed the use of its own V8 engine which will first be featured in the 2013 Esprit. Lotus is following its ‘New Era’ plan to launch five new models with less reliance on Toyota engines.

Lotus decided last Christmans to design and develop its own V8 engine. Chief executive of Lotus, Dany Bahar understood the reoccurring frustrations of customers asking ”how can you justify a £100,000 car with a Toyota engine?”.

Bahar also would not comment on how much the development program cost. “I’m not going to tell you whether it cost £40m, £60m or £70m, but the engineering result will be worth it.”

The V8 powerplant was put together in less than a year and the first test drive with the engine will take place on August 18,2011. The engine will power the 2013 Lotus Esprit, however it could be used for racing before then. The engine will be built in Norfolk, England and will be quite powerful. The 90 degree, 4800cc V8 will produce 562-hp at 9000rpm and the turbocharged R model will crank out 612-hp.

Gallery: Lotus Esprit

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[Source:Car]