Race?
Nope...
Special R ?
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Almost there...not 'R'.
I have just asked my friend Palmer Caputo about it.
He says he drew it in 1991 as an idea for an ultimate Europa, calling it Lotus Europa Palmerspeed Special Turbo and still hoping he'll build it one day!
Interesting...they decided for a shorter name for the ad, then!
It's a Palmerspeed Special '?'
(not R, T or any vowel)
oko94, Oswald or barrett, have another go!