Lotus tells Autoblog that production of its North American-spec Elise and Exige models will cease in August.

The lightweight track terror put the English automaker back on the map in the States in 2004, but a federal exemption for a lack of “smart” airbags on the sports cars is about to run out. The waiver ends this year, and combined with Toyota ceasing production of its 2ZZ four-cylinder, NA-bound Lotuses have been a dealt a one-two death blow.

Company officials tell us that production for the UK and the rest of Europe will continue with the new 1.6-liter four pot until the next Elise arrives in 2015. Considering the automaker’s penchant for limited edition models, we’d expect at least one or two more market-specific versions to roll out of Hethel before the taps are officially turned off.

Despite the barrage of concepts presented at the Paris Motor Show, Lotus still has lots of planning ahead as it maps out the future. Five concept vehicles were revealed in 2010:the Elan, Elise, Elite, Esprit and Eterne. We’ve got an update on two of them.

Car and Driver says that the Lotus Esprit should arrive by 2013. The Elan, however, has a murkier future. Forget 2013; it’s been speculated that we might not see it until 2016. Blame the Lotus Evora.

Orignally, Lotus planned to shut down the Evora so that it could give way to the Elan. Now, Lotus management has decided that the Evora deserves a traditional model cycle. Should the Evora continue into a second generation, it puts the Elan’s existence into question. If a second-generation Evora isn’t developed, a next-generation car, then new Elan will arrive and fill in the open lineup spot.

When Lotus ushered out a plethora of new concept vehicles at the 2010 Paris Motor Show, we were more than a bit surprised. Sure, many of the designs had no chance of making it to production, but even a new Elan or Esprit would cost the boutique automaker millions to build – money Lotus simply doesn’t have. Auto Express reports that the English Department for Business, Innovation and Skills (BIS) has turned down the automaker’s application for a £27.5 million loan ($50 million U.S.). The money was reportedly sought in order to build a new plant in Hethel, Norfolk, that would have produced some of new models while also employing another 1,200 Brits. The BIS turned down Lotus in spite of the fact that the government body had already approved £450 million in loans to automakers like Jaguar and General Motors. The automaker is no doubt disappointed with the decision not to allow the loan, but Team Lotus isn’t going down without a fight. Lotus released a statement saying that the automaker was exploring all options, adding that a next step could be “submitting an updated bid for round two of the RGF (government loan), which is set to close on July 1.”

With a whole raft of new models in the pipeline, Lotus has some very big plans for the future. But what does that mean for its existing lineup – most notably the Evora, the newest among them? Earlier reports indicated that Lotus was working on a substantial facelift for the mid-engined 2+2 to bring it in line with its more aggressive new design language. And it very well might be still. But that’s not what Lotus has in store for the upcoming Geneva Motor Show.

Instead, Lotus is asking the public, “Is it always wise to customize?” Well from our point of view, it’s certainly not always prudent, but it can be sometimes. From our perspective, precious few of those times, unfortunately, are realized when Mansory is involved, as the tuner dubiously improves on production vehicles as it typically does with outlandish paint jobs and garish interiors. But every once in a while, Mansory gives an existing car a re-skin – usually in carbon fiber – that makes us stop and take another look. Like the Aston Martin DB9 Cyrus and the Bugatti Veyron Vincero. And so it appears to have done with the Lotus Evora.