The resulting weight savings allowed the Elite to achieve sports car performance from a 75hp engine.
Advanced aerodynamics also made a contribution, with an astounding drag coefficient of only 0.29 - which actually outperforms most modern sports cars. This, from a company and a time that did not enjoy the benefits of computer-aided design.
From 1974 to 1982, Lotus produced the considerably larger 4-seat Elite. (This needs filling in by someone knowledgeable)