Lotus to build Tesla roadster

Lotus has signed an agreement to build the all-electric Tesla Roadster, according to the British automaker's hometown newspaper, the Norfolk Eastern Daily Press. Tesla is the Silicon Valley-based startup that recently unveiled the electric sports car -- with a 250 mile range and 0 to 60 mph time of 4.0 seconds. The car is based on the Lotus Elise platform, and was designed by a team headed by Lotus design boss Barney Hatt. Funding came from several big names in the technology world, including Google founders Larry Page and Sergey Brin, and PayPal founder Elon Musk. The car is expected to cost between $85,000 and $120,000. Deliveries of the Tesla Roadster in the United States are expected to begin next summer. Tesla hopes to sell up to 1,000 roadsters a year.