Europa Special 5-speed gearbox standardised in March.
The all new Elite is powered by a new four-in-line 16-valve 2ohc engine with aluminium cylinder block located in the front and driving rear wheels through a newly-developed five-speed gearbox. The all-independent suspension on coils springs all around is unusually soft for a Lotus. 98-inch wheelbase steel backbone chassis supporting a rather large, sharp-edged sporting estate/hatchback fiberglass body. Flip-up headlights, 2+2 seating arrangement, all new fascia and instrument cluster, plush and comfort - a new Lotus for 1970's.

3rd (J. Ickx) Brazilian GP (Lotus 72)
1st (R. Peterson) Monaco GP (Lotus 72)
1st (R. Peterson) French GP (Lotus 72)
3rd (J. Ickx) British GP (Lotus 72)
1st (R. Peterson) Italian GP (Lotus 72)
3rd (R. Peterson) Canadian GP (Lotus 72)

The new Formula 1 Lotus 76 has an electronically operated clutch. The car took part in seven races this year with the best result being 4th at the the GP in Germany. The project was abandoned in favour of keeping the 72 competitive.

Ronnie Peterson in the Lotus 72E duting practice for British GP at Brands Hatch.