>

Another commenter alluded to this but I just want to say it explicitly: Corolla and Camry engines can be pretty damn powerful depending on how they're tuned, aspirated, etc. In a "supercar" body (one that's handling-focused, lightweight, only two seats) they can haul ass. Lotus has been building their cars with Toyota engines for almost two decades.
This will probably be a disaster, but it's not necessarily because of the engine running it.
Lotus beat them to it by about 20 years