In 1971, the Type 74 Europa Twin Cam was made available to the public, with a 1,557-cc, 105-hp Lotus-Ford Twin Cam engine with 1,580 cars shipped as Europa "Twin Cam" before Lotus switched to a 126-hp "Big Valve" version of the engine.

The big valve "Europa Special" version was aspirated by Dell'Orto carburettors version of the same engine. Introduced in September 1972 the first 100 big valve cars were badged and painted to honor Team Lotus's 1972 F1 World Championship title with John Player Special as sponsors, all with five-speed gearbox, these were all black with gold pinstripe matching the livery of the GP cars. The "Special" name and color scheme was planned to be dropped after the first 200 cars, reverting to the Twin Cam name, but such was the reaction to the new car that the name and pinstripe scheme remained until the end of Europa production although colors other than black were made available. In the end only the numbered plaque distinguishing the first 100 JPS cars from other black Europa Specials. It is reported that a total of 4,710 Type 74s were produced of which 3,130 were "Specials.”

Reported as out of a collection with a known ownership history; this low mileage example has been taken apart and treated to a repaint by Phantom Restorations in Seattle, Washington, also undergoing a refurbishing, including the big valve heads being rebuilt. The A-arms have also received attention mechanically and cosmetically. Invoices and receipts for the last 30 years are included, as is the original license plate and sticker.