Lotus is really moving forward with their upmarket directions. Instead of sourcing engines from their usual supplier – Toyota – Lotus has decided that they’d be developing engines on their own.

Engine development isn’t cheap so Lotus will try to maximize the results that they will be getting in their effort to produce their own V8 engine.

The modular 4.2L V8 engine that dishes out 562 hp can be split to create a 2.4L four-cylinder engine that can be used in the smaller cars in their range – such as the Elise replacement that’s due come 2014.  Elise and Exige engines have been sourced from Toyota.

The V8 is planned for use in the Lotus Esprit (pictured). It weighs just 170 kg and revs at 9000 rpm to produce maximum power. Lotus plans to integrate it with the chassis, making it part of the car’s structure.