"The car is now undergoing its build programme overnight and through Monday, with the first significant running expected for Tuesday," the team added.
The team, who have had financial difficulties and lost some key personnel, scored only 10 points last season and finished eighth overall after 315 the year before and ending up fourth overall.
Lotus said last week, when pictures of the new car were released, that they expected to be far more competitive this season but there was a huge push on to get it completed in time for Jerez.
Technical director Nick Chester said then that the E23 was "a massive step forward".
Venezuelan Pastor Maldonado and Frenchman Romain Grosjean are the drivers in an unchanged lineup.
(Reporting by Alan Baldwin, editing by Justin Palmer)
Share
