The Esprit was launched in October 1975 at the Paris Motor Show and entered production in June 1976, replacing the Europa in the Lotus model lineup. These first cars became known as “Series 1? (or S1) Esprits. The wedge-shaped fiberglass body was mounted on a steel backbone chassis. Power was from the 1,973 cc (120.4 cu in) Lotus 907 4-cylinder engine that produced 160 bhp (119 kW; 162 PS) in European trim and 140 bhp (104 kW; 142 PS) in US/Federal trim. The engine was mounted longitudinally behind the passengers and drove the rear wheels through a Citroën C35 5-speed manual transaxle also used in the SM and Maserati Merak. Rear brakes were mounted inboard, following contemporary racing practice. The Series 1 embodied Lotus’ performance through light weight mantra, weighing less than 1,000 kg (2,205 lb).Front suspension was by upper A-arms and lower lateral links triangulated by the anti-roll bar. Rear suspension was by tapering box-section trailing arms and lower lateral links. The half-shafts had no provision for plunge and handled some of the lateral forces. There were coil-over shock absorbers and disc brakes at all four corners. Steering was by an unassisted rack and pinion.
The S1 Esprit was distinguished from later Esprits by its shovel-style front air dam, Fiat X1/9-sourced taillights, absence of body-side ducting, and Wolfrace alloy wheels. Inside the car, the S1 Esprit had a one-piece instrument cluster with green-faced Veglia gauges.