Lotus Technologies—not Lotus Cars, the division responsible for the Emira and future sports cars—is going public via SPAC and will build electric vehicles in China.
created for the purpose of merging with a non-listed company. Lotus Technology predicts that the finished deal will value it at around $5.4 billion. But Geely and minority partners will continue to control nearly 90 percent of the new company, which will trade under a LOT ticker.
The first vehicle expected to roll out under the banner of Lotus Technology’s new corporate configuration is the Electre EV crossover.So what’s in the pipeline? The Eletre is scheduled to reach the States in 2024 and will be followed soon afterwards by an EV sedan that sits on the same, this being developed under the model name Type 133. Insiders say it will have similar powertrain options to the Eletre, meaning all-wheel drive and outputs ranging from 600 hp to over 900 hp.
This will be followed by a smaller electric SUV, currently known only as the Type 134, also sitting on the EPA platform and to be built in China. This will be launched in 2025 and we’re told to expect it to be a rival to theNot that Lotus is forgetting about the lower and sleeker cars it is better known for. In parallel with the development of the trio of ‘lifestyle’ models, a new EV sports car is being developed, with the engineering of this project led from the UK.
Mike Duff has been writing about the auto industry for two decades and calls the UK home, although he normally lives life on the road.
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