Lotus, once committed to becoming an all-electric carmaker by 2028 under its Vision80 plan, has reportedly revised its approach amid recent market dynamics.
The British performance marque is now exploring range-extended hybrids, dubbed ‘Super Hybrids’, which aim to blend high performance with exceptional range. According to sources, these new models could achieve over 1000km between refuelling stops.
The shift comes amid challenges associated with transitioning exclusively to electric vehicles (EVs). Speaking to The Wall Street Journal, Lotus CEO Feng Qingfeng reportedly stated, “I believe fuel vehicles still have a long lifecycle,” citing the demands of the brand’s high-mileage drivers, who average 30,000 km annually.
The slow adoption of EVs in the luxury segment has also affected the company’s strategic shift. Qingfeng highlighted that many luxury car customers remain satisfied with the performance of powerful internal combustion engines (ICEs).
“The penetration of pure electric vehicles in the luxury car segment is slow because luxury car engines are already very powerful,” he reportedly explained, adding that the perceived performance gains with EVs are “not obvious.”
Lotus aims to tackle these concerns with a 900V electrical architecture, a turbocharged engine, and a battery pack for its upcoming hybrid models.
Despite delivering 7543 vehicles in the first nine months of 2024 – a 134% year-on-year increase – Lotus remains under financial strain, reporting an operating loss of US$438 million (NZ$746.8 million) for the first half of the year.
Further details about the brand’s new Super Hybrids may emerge during the company’s third-quarter earnings call.
This pivot underscores the complexities of the automotive industry’s transition to sustainable mobility, especially for performance-focused brands like Lotus.
