Lotus, the iconic British car manufacturer, has unveiled its latest creation, the Emeya, a fully-electric grand tourer (GT) sports car, in New York. This move is a significant part of Lotus’ ambitious plan to transform from a niche brand to a high-volume carmaker with an annual sales target of 150,000 cars by 2028.
Production in China
Production of the Emeya is slated to commence in 2024 at a factory located in Wuhan, China. This facility is operated by Geely, the Chinese automaker that jointly owns Lotus alongside Malaysia’s Etika Automotive. The choice of China as the manufacturing hub aligns with the global shift toward electric vehicles (EVs) and the growing demand for premium electric sports cars in the Chinese market.
Impressive Range and Competitive Pricing
The Lotus Emeya is expected to offer a range of just under 400 miles on a single charge, making it a suitable choice for long-distance driving. According to Lotus’ Chief Commercial Officer, Mike Johnstone, the pricing of the Emeya will be in the same range as the company’s Eletre SUV model. The Eletre, which entered production this year, is priced between £90,000 ($112,300) and £130,000.
Luxurious GT Experience
Grand tourer (GT) cars are renowned for their luxurious features, offering a comfortable and stylish driving experience, particularly during long journeys. The Emeya is designed to align with this tradition by incorporating high-end features to enhance the overall driving experience.
Impressive Performance
Lotus’ Emeya boasts a top speed of 155 miles per hour (250 km/h). Equipped with fast-charging capabilities, it can add an impressive 93 miles of range in just five minutes. These performance features are expected to attract drivers looking for a unique electrified GT-style sports car.
Competition and Brand Appeal
According to Mike Johnstone, Lotus aims to appeal to customers who seek something different in an electrified GT-style sports car. The company anticipates drawing interest from drivers who are considering switching from German brands and even Tesla.
From Niche to Mass Production
Historically, Lotus produced around 5,000 cars annually since its inception in 1948. However, with substantial backing from Geely and Etika, Lotus is embarking on a significant expansion plan. Part of this strategy involves taking Lotus Technology, which includes Lotus Cars, public via a merger with a special purpose acquisition company called L Catterton Asia Acquisition Corp. This public listing remains on course.
Geely’s Broad Expansion Plan
Geely, the parent company of Lotus, has an extensive automotive empire and has previously listed parts of Volvo Cars, including Polestar. Its premium Chinese luxury brand, Zeekr, is currently in discussions with investors regarding a potential initial public offering. Additionally, Geely plans to transform the London Electric Vehicle Company, known for manufacturing iconic black taxis, into a high-volume, all-electric brand. These moves reflect Geely’s commitment to embracing the electric future of the automotive industry.