The Lotus Elite (Type 75) was manufactured from 1974 to 1980. The 'new' Elite was a 4 seat car with a glass-fibre body, Lotus' recognisable steel backbone chassis and 4 wheel independent suspension system. Power was provided by Lotus' own 907 twin cam 2 litre, 160bhp, 4 valve per cylinder all aluminium engine. This engine was the first 4 valve production engine sold on the open market.

In 1980 the Series 2 (Type 83) was introduced. This version remained in production until 1982. The main difference between the Series 1 & Series 2 was the Lotus 912 engine with it's larger capacity of 2.2 litres the same 160bhp but with a usable increase in torque from 140 lb ft@4900rpm to 160 lb ft@5000rpm.