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Ilco HF59R (NOT X222) is the correct key blank for the early Elise.
Ilco HF59 is correct for the later Elises (it just so happens that X168 is an equivalent part number)
Some additional info:
These are Opel keys. Opel makes the ignition for Lotus. Not Mazda. X222 is a Mazda key. In this thread, I will tell you how to make proper copies of your Elise key using the correct blank, and if you don't have a good existing key, how to make a factory new key using only a key code from Lotus.
I made a little illustration to show the differences in the keys:
Hopefully this will save others lots of time:
It is pretty amazing that in the last ten years, not a single person has posted here the correct key blank for this car, and companies are even selling aftermarket remote-integrated keys with the wrong blank. When I bought my Elise two months ago, I only received one key with the car -- a bad copy on a X174 blank that didn't work well in my ignition. The cuts on the key weren't even right, so I couldn't use it to make a copy. The only option I found that would actually work was to order a new key cut from Lotus shipped from England for $140. After much research, I found the correct key blank, and how to use it to make copies yourself for a tenth of the cost.
If you want to make a factory correct copy of your early 2005 Elise key:
1) Buy the correct key blank (Ilco HF59R or corresponding part from another manufacturer) online or possibly locally if you can find it. You can also use key blank DWO4RAP, which has a black plastic handle. I had a DWO4RAP key of these made too and it works great. Do not use X222, as it is not even close to correct (see picture above).
2) Take it to any locksmith. Unlike the X222 (because it's the wrong key blank), any key copier should be able to make a working copy. If you want a copy using the DWO4RAP blank, you'll have to find a competent locksmith because it doesn't exactly match HF59R.
If you do not have an original key, or if you want a brand new key made using only the original key cuts specified by Lotus:
1) Call a Lotus dealer and ask for the "key code" for your car. They may just give it to you or they may ask you to fax/email registration, etc to prove you own the car. A locksmith uses a database to look up the key code and translate it into the actual key bittings (cuts) that will be made on the key. This only works for the correct blank.
2) Buy the correct key. You can also use the Lotus OEM key if you want it to be fully OEM (use Lotus part number above).
3) The key code they give you should be D, followed by four numbers (DXXXX). The Elise is in none of the locksmith databases. After much research, I discovered that the Early Elise key code series corresponds to "Opel 1984+" so just tell the locksmith to match the key code to "Opel 1984+".
I ended up buying 10 HF59R key blanks online so I have several copies left over if anyone wants to purchase for $5 shipped each.
Some equivalent part numbers for common manufacturers: Silca YM28, JMA OPD
Ilco HF59 is correct for the later Elises (it just so happens that X168 is an equivalent part number)
Some additional info:
These are Opel keys. Opel makes the ignition for Lotus. Not Mazda. X222 is a Mazda key. In this thread, I will tell you how to make proper copies of your Elise key using the correct blank, and if you don't have a good existing key, how to make a factory new key using only a key code from Lotus.
I made a little illustration to show the differences in the keys:

Hopefully this will save others lots of time:
It is pretty amazing that in the last ten years, not a single person has posted here the correct key blank for this car, and companies are even selling aftermarket remote-integrated keys with the wrong blank. When I bought my Elise two months ago, I only received one key with the car -- a bad copy on a X174 blank that didn't work well in my ignition. The cuts on the key weren't even right, so I couldn't use it to make a copy. The only option I found that would actually work was to order a new key cut from Lotus shipped from England for $140. After much research, I found the correct key blank, and how to use it to make copies yourself for a tenth of the cost.
If you want to make a factory correct copy of your early 2005 Elise key:
1) Buy the correct key blank (Ilco HF59R or corresponding part from another manufacturer) online or possibly locally if you can find it. You can also use key blank DWO4RAP, which has a black plastic handle. I had a DWO4RAP key of these made too and it works great. Do not use X222, as it is not even close to correct (see picture above).
2) Take it to any locksmith. Unlike the X222 (because it's the wrong key blank), any key copier should be able to make a working copy. If you want a copy using the DWO4RAP blank, you'll have to find a competent locksmith because it doesn't exactly match HF59R.
If you do not have an original key, or if you want a brand new key made using only the original key cuts specified by Lotus:
1) Call a Lotus dealer and ask for the "key code" for your car. They may just give it to you or they may ask you to fax/email registration, etc to prove you own the car. A locksmith uses a database to look up the key code and translate it into the actual key bittings (cuts) that will be made on the key. This only works for the correct blank.
2) Buy the correct key. You can also use the Lotus OEM key if you want it to be fully OEM (use Lotus part number above).
3) The key code they give you should be D, followed by four numbers (DXXXX). The Elise is in none of the locksmith databases. After much research, I discovered that the Early Elise key code series corresponds to "Opel 1984+" so just tell the locksmith to match the key code to "Opel 1984+".
I ended up buying 10 HF59R key blanks online so I have several copies left over if anyone wants to purchase for $5 shipped each.
Some equivalent part numbers for common manufacturers: Silca YM28, JMA OPD