Lotus is reintroducing the Elise this 2016, adding the "Sport" tag. Both the Elise 1.6 and Elise S are being replaced by their lighter and more affordable successors: the Elise Sport and Elise Sport 220.

The Lotus lineup premiered way back about 20 years ago, and according to evidences in auto history, it paved the way and set the standards in some ways for other entry-level supercars.

The new Elise models inherited the "Sport" name from the Lotus Espirit, which marks the carmaker's intentions of bringing in an updated two-seater roadster that's more ready performance-wise.

"These two new models, the Elise Sport and Sport 220 revive the iconic 'Sport' naming designation and are both worthy of wearing this badge. Over the years, with each improvement to the Elise, we have ensured that the purity of the driving experience has been retained and improved upon and with these two new models, we have taken it on to the next level," Jean-Marc Gales, Group Lotus PLC CEO, says (PDF) in a statement.

Both updated Elise models will be shedding a considerable 22 pounds each, where the Elise Sport will weigh at 1,909 pounds and the Elise Sport 220 at 2,015 pounds.

Compared with previous models, the Elise Sport 220 will provide more torque and power with its peak power of 217 horsepower and torque of 184 pound-feet, allowing it to run from 0 to 60 mph in just 4.2 seconds and reach 145 mph top speed. On the other hand, the Elise Sport will have a peak power of 134 horsepower and torque of 118 pound-feet, where it can run from 0 to 60 mph in 6 seconds and reach a 127 mph top speed. Both models will be fitted with a six-speed manual transmission.

Inside, the seats are available in leather, Alcantra or Lotus' classic tartan trim, which was introduced on the Lotus Espirit S1 in 1976.

Of course, a reduced a weight means improved fuel efficiency, where the power-to-weight ratios of the Elise Sport and Elise Sport 220 are at 155 bhp/tonne and at 237 bhp/tonne respectively. Both models will also sport efficient fuel consumption ratings, with 56.5 mpg (extra urban) for the Elise Sport and 47.9 mpg for the Elise Sport 220 (extra urban).

The reduced weight will come with reduced price tags, where the Elise Sport will be priced at £29,900 or €39,900 (roughly $45,400) and the Elise Sport 220 at £36,500 or €48,700 (roughly $55,400).

Consumers can also avail of an optional forged wheel design that stands to further reduce 11 pounds each for both models. The two will be available in a wide range of colors, from solid red and solid yellow to metallic black and signature gray.

The Elise Sport and Elise Sport 220 are expected to land on local showrooms staring early 2016.