The owners of Formula One Team Lotus announced today the acquisition of lightweight sportscar manufacturer Caterham, for an undisclosed sum from the shareholder consortium led by Corven Ventures.

Based in England, Caterham has made a name for itself for building the Seven, a lightweight two-seater sports car that was designed by Lotus founder Colin Chapman and who sold the rights of the car to Caterham in 1973.

Team Lotus chiefs Tony Fernandes, Kamarudin Meranun and SM Nasarudin said in a statement that the company plans to expand Caterham’s profile and product family while also continuing the development of the Seven.

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It was only a matter of time before someone edited a video of Vitaly Petrov’s spectacular exit from last week’s Malaysian Grand Prix. The Russian pilot of the Lotus Renault F1 team ran too wide at a turn near the end of the race and as he tried to get inside the track again, he hit a bump on the grass that launched the race car high into the air.

The maker of the video thought the scene with the F1 car going airborne looked a lot like something you’d see in The Dukes of Hazzard, hence the audio background. For Petrov, the incident wasn’t as funny as the impact resulted in a broken steering column mount that forced him to retire from the race. Enjoy the clip after the break.

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The Lotus Elan was one of five concept sports cars presented by Lotus at last year's Paris Auto Show while it also made a quick stop at the LA motorshow that followed in November. Now that the concept studies have made it back to the England, the folks over at Paultan visited the British firm's headquarters in Hethel and shot this video showing the Elan's digital instruments in action. The panel consists of a large LCD screen flanked on either side by two smaller components. You can watch the video clip after the jump.

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Remember Hennessey’s barnstorming, 1,200 hp (895 kW) Venom GT? Well its back and the journalistic titans at Road & Track have driven it. And there’s a video, to boot. Weighing in at a lithe 2,685 lbs (1,218 kg), the phenomenal Venom GT builds on Hennessey’s experience with tuning the Viper, 5th generation Camaro and various Cadillacs, among many others. It’s a simple formula, really. Big power + light weight = big fun. Read more »

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To show that the brand is going through a metamorphosis after the presentation of five new models at the Paris Show, Lotus has joined forces with award winning French artist Gérard Rancinan to create seven artistic images that will be showcased alongside a new book by French writer, Caroline Gaudriault, at a special event in Los Angeles on Friday, November 12.

As you may have guessed, the collection of photos is called "Metamorphosis" and the focus is on the five new Lotus models that made the trip to this year's Paris Motor Show: the Esprit, Elan, Elite, Elise and Eterne, plus two extra large montages.

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Some say you can't make a Lotus any better. Well, maybe they haven't head of Hennessey and its SEMA Show-bound Venom GT. The American firm's new toy is based on the Lotus Elise and, in its flagship version, comes equipped with an out-of-this-world 1,200 hp (895 kW) twin turbocharged V8 engine sourced from the Corvette. Power is sent to the rear wheels through a six-speed manual gearbox.

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In an attempt to enter the 4-door coupe market, Lotus brought a sedan - you read that right - to the Paris Motor Show. The Eterne is the new Lotus 4-door (other Loti saloons include the 377HP twin-turbocharged Lotus Carlton / Omega of the early 1990s, and they sure are cool); it uses a Lotus-tuned new bad boy engine borrowed from Lexus.

This means that sitting under the hood is a high-output forced-induction 5.0-liter V8. As with the Esprit and Elite, the Eterne will offer optional hybrid power and KERS.

An added bonus is available AWD. The Eterne provides seating for four passengers in an 1,800-kilo package that will cost approximately £120,000 [~ US$190,500 at today's exchange rates] before options.

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The new Lotus Elise jumps into entirely new styling territory, not so much evolving from the current model but fully reinventing itself as a baby Esprit. The only similarities are the mid-engine layout driving the rear wheels and 2-seats around corners.

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Next up on our Lotus debut circus is the Elan, a small 2-seater (with an optional 2+2 layout) sitting somewhere between the Evora and the Esprit. Looking very similar to the Esprit (and in the rest of the new Lotus coupes), the Elan gets its power from a high-output Toyota-sourced V6 and, also like its new big brother, optional KERS and hybrid systems. Scroll on down for all the Lotus-certified facts.

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[Updated gallery] Lotus pounced on Paris like a rabid hyena, debuting no less than 6 all-new models. With the new Esprit, a car everyone has been waiting for, Lotus answered some important questions regarding its future mid-engined 2-seat monster. Scroll on down for video, pics, and all the basic info necessary to make a very important decision: to buy an Esprit or not to buy an Esprit?

Using the same supercharged 620-horsepower 5.0-liter Lexus V8 found in the Elite GT we recently showed you, and coming in at 1,450 kg, the Esprit is going to be a bit on the fast side (even in optional hybrid form).

If you're interested in picking up the new Lotus performance flagship, the price of entry will start at a cool £110,000 (about US$175,00 at today's exchange rates) come spring 2013.

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