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Jay Leno goes old school with 1966 Lotus Elan 26R

On the latest episode of Jay Leno's Garage the guest's are both from inside the garage: the man they call Professor Jim Hall, Leno's master fabricator, and the 1966 Lotus 26R that he spent 18 months building. The Elan 26R was the racing version of the Elan that Lotus founder Colin Chapman began building after watching privateer teams prep their roadgoing Elans for competition duty all over Europe. Built by the factory from 1964-1966, drivers like Jim Clark and Jackie Stewart won silverware in the roadster called "the giant killer."
Hall, a veteran Lotus wrench, started with the 1966 Elan street car and turned it into a 26R that's arguably better than the factory original. Except for the engine block and head, original 26R body and Elan chassis, just about everything is custom built, highly modified or special order, from the fabricated oil pan, brake lines, safety wiring and oval exhaust tubing to the six-speed sequential transmission.
The episode is an unusually-long 21 minutes because, as an in-house build, Leno can go through the process of putting the whole roadster together. When he takes it for a drive and keeps going on about how it sings, you can hear it, too. It's worth the time to check out Mr. Hall's Opus in the video below.

Lotus Esprit cancelled? [UPDATE]

Two years ago, we were gobsmacked when humble Lotus shocked the automotive world by wheeling out no fewer than five new models - admittedly in various stages of development - at the 2010 Paris Motor Show. The ambitious onslaught of new sheetmetal came at the behest of then-CEO Danny Bahar who aimed to broaden the British marque's appeal by dramatically expanding its portfolio. Bahar was later thrown out by new Malaysian owners DRB-Hicom in a management shakeup that seems to still be, well, shaking out. Bahar was deposed over accusations of financial wrongdoing and the controversial executive has fired back with a $10.6M lawsuit.
Against this chaotic background, a cornerstone of Lotus' revival plans hinged on the rebirth of its Esprit supercar (shown in 2010 concept form above). According to new reports, however, the Esprit has been cancelled, a victim of the company's uncertain finances and direction. Depending on which rumor you choose to believe, the two-seat coupe was slated to receive a house-built V8 and possibly turbocharging or hybrid power. That may all be moot now, however, as DRB-Hicom is reported to have scrapped Bahar's plans wholesale, a development that apparently includes killing off the mid-engined Esprit, too.
UPDATE: And this, friends, is why we have this story with a question mark and a Rumormill tag - Lotus is denying that the Esprit has been killed off.

New Lotus owners ditch ambitious five-year plan

This didn't take long. The new overlords at Lotus have reportedly scrapped the company's five-year plan. DRB-Hicom ditched the turnaround strategy, penned by ousted CEO Danny Bahar, because it believes the market viewed the plan as overly ambitious.
The new product plan will slim the number of new model lines from five to three, and Lotus will likely slash the number planned consultants in favor of relying more heavily on in-house talent. According to The Star, the move should help expedite product development and save cash at the same time.
Even so, nothing is written in stone as of yet. DRB-Hicom says the new plan will take up to a year to finalize. The company has dumped around $242 million into Lotus so far this year, and the struggling automaker may require another $121 million by 2013. Lotus all but stopped production earlier this year during a loan freeze, but the lights came back on in April. The company now produces around 44 vehicles per week.