Lotus to float new EV division on stock market | Autocar

The electric SUVs and saloon will be built in a new £900 million factory in Wuhan, China. The Geely-owned plant has the capacity to build 150,000 cars per year for sale in China and globally.

Lotus CEO Matt Windle described the extent of the transformation as something “never undertaken in the automotive industry before”.You’re not owning any part of the Lotus Cars sports car division; the size of the market for an electric Lotus SUV or saloon tilting at Porsche or even Bentley is uncertain at best; and the stock market isn’t a happy place right now for young EV companies.

But Lotus is undeterred. It points to technology leadership ; an “asset-light” structure that means it taps into Geely’s global manufacturing capability without splashing out big sums itself; and the fact it has a resonant brand name, at least in some countries.

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