If you've got £82,000 burning a hole in your pocket then the new Lotus 3-Eleven could be the car for you.

Lotus CEO Jean-Marc Gales has today unveiled the new Lotus 3-Eleven at the Goodwood Festival of Speed.

So what do we now know?

Two variations of the Lotus 3-Eleven will be available: Road and Race; whicn Lotus says will deliver an impressive combination of high performance, agility and precision. Based on the Road version, the Race includes a more aggressive aero kit, a sequential gearbox and an FIA approved driver's seat with a six-point harness.

It is the quickest production car ever lapping Hethel in less than two minutes - 1 min 22 secs to be exact.

The new Lotus 3-Eleven is powered by a revised version of the 3.5-litre V6 engine first shown in the Evora 400.

Speaking at Goodwood, Jean-Marc Gales, Chief Executive Officer for Group Lotus plc, said: 'We always say that to make a sports car better, you make it faster and lighter. The new Lotus 3-Eleven carries that philosophy to a new level, and is perfectly in keeping with our brand values.'

The new Lotus 3-Eleven will enter production in February 2016 and deliveries will commence in April 2016. Production will be limited to just 311 vehicles in total.

Prices start at £82,000 for the Road version (including VAT and on the road costs) and £96,000 excluding VAT for the Race version (£115,200 including VAT).