The new Lotus Esprit is purportedly almost finished, with just signing off and minor tweaking needed.

The new Lotus flagship is all but complete, but with the on-going management issues at the company it is far from becoming a production reality, a Lotus source has told Autocar.

It will use a 5.0-litre twin-turbo V8 with an F1-style KERS system, mated to a seven-speed paddle-shift transmission.

Despite a power output of around 650bhp, and a carbonfibre/aluminium construction, the Esprit is expected to cost no more than a high-end 911 – around £100,000.

Currently there is no word of when, or indeed if the Lotus Esprit will make it into production. A spokesman declined to comment on the story.