The Elite has a shooting brake body style, with a glass rear hatch opening into the luggage compartment. The Elite's fibreglass bodyshell was mounted on a steel backbone chassis evolved from the Elan and Europa. It had 4-wheel independent suspension using coil springs. The Elite was the first Lotus automobile to use the aluminium-block 4-valve, DOHC, four-cylinder Type 907 engine that displaced and was rated at . With this engine the car does in 8.1 seconds and reaches a top speed of . (The 907 engine had previously been used in Jensen-Healeys.) The 907 engine ultimately became the foundation for the 2.0 L and 2.2 L Esprit power-plants, the naturally aspirated 912 and the turbocharged 910. The Elite was fitted with a 4 or 5-speed manual transmission depending on the customer specifications. Beginning in January 1976, an automatic transmission was optional.