The Lotus Exige 240R is a physics experiment on wheels. It proves a theory of Daniel Bernoulli, an 18th-century Swiss scientist, that as the velocity of a fluid increases its pressure decreases.

Aerodynamics keep the 240R grounded when a lesser car would lose its grip. Even cornering at 120mph the 240R stays magnetised to the tarmac. The Mitsubishi Evo is clumsy by comparison. On the racing circuit where Andrew Frankel and I compared the two the Evo rolled like a ferry in a heavy swell.

That is because the 240R was sculpted in a wind tunnel using Lotus’s Formula One experience. Mitsubishi’s attempt at a rear spoiler looked as if it was pop-riveted on as an afterthought.

True, there are faster and classier cars than the Lotus. The Noble M400 would blow it into the weeds in a straight line and the Aston Martin DB9 would look down its long nose at Lotus’s inferior pedigree. But for a white-knuckle ride, and to experience a cornering force of 1.5g, the 240R is hard to beat.

Lotuses used to have a reputation for parsimony. My brother’s Elise, built in 1996, has all the comforts of a dentist’s chair: no electric windows, no central locking, a rudimentary heater and lots of bare metal. The new 240R comes with air-conditioning, electric windows, a four-speaker Blaupunkt stereo and even a plug-in for an MP3 player. It is heavier than the standard Exige — 930kg compared with 875kg — but that doesn’t matter because it has nearly 30% more power.

Its secret weapon is a Roots-type supercharger that boosts output from the Exige’s Toyota Celica engine to 243bhp at 8000rpm. That’s as much power as a Boxster engine, but the 240R is 50% lighter than the Porsche and more gripping in every sense.

It reaches 60mph in 3.9sec, comfortably half a second faster than the Evo, and 100mph in a shade under 10sec. Sitting in it, 7in above the road, it’s like being propelled at warp speed. Would you ever use that performance on a public road? Seldom, to be honest. But a growing number of race circuits allow you for a fee to spend a day testing your car’s full potential. Lotus itself runs a £99 course called Scare Yourself Sensible.

The late Colin Chapman, Lotus’s founder, was one of motor sport’s true originals: a temperamental, complex and contrary genius whose passion for motoring and racing drove him to great heights. He would have loved the 240R.

Admittedly his company is now controlled by Perusahaan Otomobile Nasional Berhad (Proton), a Malaysian firm whose first attempt at a car in 1985 was called a Saga and drove as though it was full of water. But Rolls-Royce, Aston Martin and Mini have all fallen to foreign ownership and still they produce some of the coolest cars in the world.

The Evo, by contrast, is built by an industrial giant that started out building ships and flogging insurance. I suspect Frankel has road tested so many cars over the years the romance of driving has been dulled. These days he needs space for family and Ikea flatpacks and a cupholder for his cocoa.

Thus, even after driving the Exige, he still preferred the Evo. Fine, but if you want a family car buy a Focus. Why revert to the kind of souped-up saloon a 19-year-old would pick up his girlfriend in? That’s what the Mitsubishi is, just without the body filler and the condoms. Even the name gives it away: Lancer Evolution IX FQ-320. Can I get that at Dixons? You also have to ask whether you want a car made in a soulless factory in Asia or a car hand built by Lotus Sport in a special workshop next to the main factory at Hethel, Norfolk. The 240R is put together by a team of technicians whose names are Ben, Simon, Dave, Karl and Rob. They work on a batch of five at a time and the cars don’t leave the workshop until each one has been tested.

Only 50 of them will be made. Perhaps this is a marketing gimmick but I think Lotus should be lauded. After all, what cars are produced these days in such small numbers? Ferrari 360s are 10 a penny and every Premiership footballer and his permatanned, Gucci-dripping girlfriend has one. Even the new limited-edition Superamerica has a production run of 559 — the equivalent of Ferrari’s entire annual output in the 1950s and 1960s.

City traders, property dealers, sports stars, and gangsta rappers are all driving supercars these days. Rarity is even rarer.

Of course the 240R has drawbacks. It won’t let you take its top off because the air scoop for the supercharger goes through the hard roof. And it comes in a choice of only black or yellow.

There is also the price. At £43,995 the 240R is £14,000 more than the standard Exige and £16,000 more than an Elise. For the same money you could buy a Mitsubishi Evo and still have change for a couple of jet skis and some David Beckham sunglasses. Frankly, I’d rather have a tattoo.

Vital statistics

Model Lotus Sport Exige 240R
Engine type 1796cc supercharged, 4 cylinders in line
Power 243bhp @ 8000rpm
Torque 174lb ft@7000rpm
Transmission Six-speed manual
Fuel/CO2 n/a
Performance 0-60mph: 3.9sec / Top speed: 155mph
Price £43,995
Verdict Deserves to be James Bond’s next car
Rating Five stars