Spy photographers have spotted Lotus' upcoming supercar hiding under a protective cover. Although details on Lotus' newest supercar remain scarce — our sources simply refer to the car as "THE Supercar" — it is believed that it will be powered by a Jaguar-sourced V8 with around 420 horsepower.

Power is expected to be sent through a Volkswagen gearbox and Lotus is said to be developing the car's active suspension.

When we last saw the Lotus Esprit in 2004, it was equipped with a 3.5-liter twin-turbo V8 rated at about 350 hp. Offering much more motivation than its early turbocharged 4-cylinder powerplant, the Esprit V8 was quick -- pedal to the floor, the two-seat coupe could punch through 60 mph in less than 5 seconds. Impressive as it was just a few years ago, there are more than a handful of cars (at half the price) that can shame the Lotus back across the Pond today.

To keep the upcoming 2011 Lotus Esprit at the front of the pack, it is rumored to be fitted with the 4.4-liter twin-turbo V8 found under the hood of the recently released BMW X6. The powerplant is rated at 400 horsepower with only light boost under the German's hood. Under the fiberglass cover of the future British Esprit, it will most likely be tuned to deliver nearly 500 horsepower. It will need every bit of power it can get, as the new Lotus will be competing with the Porsche 911 Turbo, Ferrari F430, and the new Nissan GT-R.

The 2010 Lotus Eagle, the new Lotus 2+2 sports car we've all been waiting for, has possibly been spotted for the first time in production trim (we saw this possible Lotus Eagle mule testing in November). The driver of this prototype was unlucky enough to be captured just outside of the Bosch arctic testing facility, possibly out for a quick cocoa -- or some kind of sneak preview viewing of the new Batman movie where he's decided to dress up the proto as the caped crusader. This new 2+2 should be slotted somewhere between the Elise and the next-gen Esprit in the Lotus lineup and fill the niche for people who like the Elise but would like a little room to carry passengers and gear. Or have two children with no legs. Rumors are that the Eagle's engine will be a V6 sourced from Toyota, and will likely be offered in displacements of 2.5- and 3.0-liters. Horsepower figures are expected somewhere between 200 and 300, making the new Lotus 2+2 a compelling performer, with zero-to-sixty times expected to be in the low five-second range. But heck, what do we know -- we're just calling it the "2010" because it sounds good. Full spy report below the jump and more pictures in a moment.

We just got our first glimpse of Lotus' all-new 2+2 sports car, and managed to snap this set of shots before the test driver could escape back into the safe confines of his Arctic Testing Grounds. Knowledgeable sources in the U.K. have given us iron-clad confirmation that this prototype is the car that Lotus has codenamed "Eagle." The new four-seat Lotus will make its official public debut in July at the London Motor Show, but this is the first time that the car has been photographed in its full production form. The angular camouflage is very thorough, but it's clear that a very svelte, sexy shape lies beneath.
Sources tell us that the Eagle 2+2 will slot in between the Elise and
next-generation Esprit, and is designed for those who love the Elise,
but also want a little more room and comfort. Lotus Boss Mike
Kimberley, quoted by U.K.'s CAR Magazine, has described the Eagle's
rear-seat accommodations as comfortable for children up to nine-years-
old, so the Porsche Panamera and Aston Martin Rapide aren't exactly in
jeopardy here. The rear seats will most likely be used for a couple
golf bags, or other cargo suitable for a nice weekend trip, giving the
Eagle a nice dose of practicality.

The Eagle is said to use Lotus' aluminum variable vehicle
architecture, so the traditional lightweight Lotus feel should be part
of the package. The Eagle's engine will be a V-6 sourced from Toyota,
and will likely be offered in displacements of 2.5- and 3.0-liters.
With horsepower figures expected to hover somewhere between 200 and
300 horsepower, the new Lotus 2+2 will be a compelling performer, with
zero-to-sixty times expected to be in the low five-second-range.

Don't be fooled by the Eagle's mid-summer debut, as there is still a
lot of development to be done. Finished, production-ready models
aren't due to reach showrooms-and their lucky buyers--until sometime
in the Spring of 2009.

A Hollywood star made famous alongside 007 himself, Lotus’s Esprit dates back to 1976 and was the maker’s only offering for the longest time. While Lotus has been reported to be working on bringing back the storied nameplate by as early as 2010, today’s reports have the car delayed until a 2011 public release.

The recently-unveiled Lotus Evora is partly to blame for the delay as Lotus is redesigning the Esprit flagship to further distinguish the two. The Esprit would be based on the Evora’s platform and the company is considering , likely to get power from a BMW-sourced V8, the s 4.4L twin-turbo mill that debuted in the X6.

The latest updated also car may also be offered with a hybrid powertrain, using Toyota technology, say Autocar reports. The collaboration seems likely, as Toyota supplies engines for the current line-up, including the 1.8-liter four cylinder in the Elise and Exige and the 3.5-liter V6 in the new Evora.

While it is not confirmed that the car will wear the Esprit badge, expect it to be wider and longer than the Evora in order to accommodate the larger engine, which will also we mounted longitudinally. As such, we expect a wheelbase stretch compared to the Evora as well.

Other car news the automaker and engineering firm has on the go include expanding the offerings of the Evora to include a two-seater, convertible and automatic version. S3 versions of the Elise and Exige are likewise being developed.

Late last year Lotus confirmed that it was developing a new supercar to fill the void left by the Esprit, and the English automaker has now given us a little more information on the upcoming model.

The car will be built at the Lotus headquarters at Hethel in Norfolk UK. Lotus announced it had decided to build the successor last year, following an extensive evaluation of feasibility. It was later confirmed the Esprit name would be retained.

In September, Lotus gave a firm timeframe for the new Esprit, which it says will be unveiled in December 2009. Previously, Lotus had planned to launch the car a year earlier. The Esprit will be one of three all-new models due in the next few years.

It has been officially confirmed by Lotus that the new Esprit will not only become available as a coupe, but, for the first time, as a convertible/roadster, too.

Pricing is expected around $130,000 — undercutting the Ferrari F430 and Lamborghini Gallardo.