As part of its aim to expand from a small, legendary brand to a mainstream manufacturer with annual sales of 150,000 vehicles by 2028, British automaker Lotus showcased an all-electric grand tourer (GT) sports car in New York on Thursday.
In 2024, Geely (0175. HK), a Chinese carmaker that owns Lotus together with Malaysia’s Etika Automotive, will begin manufacturing the Emeya at a plant in Wuhan, China.
Chief Commercial Officer Mike Johnstone told Reuters that the GT should have a range of little under 400 miles and a price approximately equal to Lotus’ Eletre SUV model, which went into production this year and costs between 90,000 pounds ($112,300) and 130,000 pounds.
A GT’s plush interior makes it ideal for extended trips.
The maximum speed of the Emeya is 155 miles (250 kilometers) per hour. It has a rapid charging feature that can extend its range by 93 miles in only five minutes.
Johnstone has said that Lotus’s intended audience for the Emeya is those “looking for something different in an electrified GT-style sports car.”
“We expect, as we’ve seen with Eletre,” Johnstone said, “to see a number of people come over from German brands.” People are leaving Tesla in droves and joining us.
Lotus has existed since 1948, with an annual production rate of about 5,000 vehicles. However, with backing from Geely and Etika, the firm has big development plans.
Lotus Technology, which comprises Lotus Cars, is merging with special purpose acquisition business L Catterton Asia Acquisition Corp (LCAA.O) to go public this year.
According to Johnstone, plans to go public are still on schedule.
Geely operates a massive auto manufacturing conglomerate with publicly traded Volvo Cars subsidiaries like Polestar. Zeekr, a premium Chinese luxury brand, is negotiating with investors for an IPO.
The London Electric Vehicle Company, known for producing the ubiquitous black cabs, is another company Geely intends to transform into a high-volume, all-electric brand.