The upcoming Lotus Esprit may be powered by a 500hp Lexus V10 according to a report in the U.K.’s EVO magazine. Lotus has a long time partnership with Lexus parent company Toyota, using its Celica-sourced 1.8-liter 4-cylinder engine for the Elise and Exige, as well as its the Camry-sourced 3.5-liter V6 for the Evora. According to EVO this relationship extends not just to the Toyota powertrain department but also to the Lexus division - and Lexus just so happens to be readying its LF-A exotic with a 500 horse V10. There is also the possibility that the IS-F’s 417hp 5.0-liter V8 could be an option, as well as an entry-level 300hp direct-injection V6 motor. 

The new Evora platform, which is to be the basis for the Esprit’s chassis, is capable of holding engines in either a transverse or longitudinal layout - giving more credence to the possibility that several different engines could be made available to buyers.

Lotus doesn’t plan to bring the Esprit to market until 2012, but it is dedicated to delivering a true exotic capable of taking on the Lamborghinis and Ferraris of the world.

There is also a strong possibility that Lotus could offer the Esprit with an electric powertrain.