So the don't have the engineering skill to do an engine?? Or is it a cost thing?
While that little Toyota engine is OK, it's nothing spectacular....
They could easily build their own engine, it's just not a strategic fit at the moment, and would make the cars too expensive and unreliable in the short to medium term. When you say the engine is not spectacular, in supercharged form it has good torque, great power and is ridiculously reliable, what more could you want..?
In a lightweight car it's not about having the most powerful engine, I kept mine at between 6K & 9K rpm for two years doing 80+ miles every day, and it never used a drop of oil, they made the right choice.
TG a lot of people retrofit Honda's, especially in the mk1 Exige, they can do 250-300bhp OK which is awesome (although scary) in a little car like that!
Mike K has done a great job at the helm, keeping the innovation going, modernising, and energising the consulting arm. With small volume manufacturing there are so many things that can work against you, especially if you make the wrong strategic decisions. Well done that man.