In the growing electric vehicle market Extended-range EVs (EREVs) are gaining traction. To keep pace with shifting Lotus is making a notable shift in its strategy. It is a UK-based automaker owned by Geely.
Lotus has decided to abandon its previous plan of becoming an all-electric brand by 2028. This change is driven by the growing appeal of EREVs, which offer a middle ground between electric vehicles and plug-in hybrids, alleviating concerns for drivers who worry about range anxiety and the availability of charging stations.
Lotus believes that introducing these extended-range hybrids will help the company meet its 2026 sales target of 30,000 units globally. This step marks a significant shift from their earlier electric-only vision, as they aim to reach a broader audience of consumers who are still hesitant about fully electric vehicles.
As per Automotive News Europe reports, Lotus has been mixing in some “lifestyle” EVs, including an SUV,to its sports-car lineup, but has struggled to meet its volume targets. But the problem Lutus says is that luxury burgers are reluctant to go full-electric.
Automaker says it sold 7,617 cars through September, including the Eletre SUV and Emeya large sedan, both all-electric vehicles – as well as it Emira sports car, once said to be the brand’s last ICE model.
Lotus CEO Feng Qingfeng said on the company’s third-quarter earnings call last week that this year company’s target is sales of about 12,000 models that is “definitely challenging.”
At the Guangzhou Motor Show in China he said,” Luxury car engines are already very powerful, and the driving experience is quite similar, with eight-cylinder and 12-cylinder engines performing well.”
The brand is developing a “Super Hybrid” technology, combining an electric motor with a turbocharged combustion engine to achieve a total range of 680 miles (1,094 km). A key motivator is that hybrids avoid the European Union’s 28.8% tariff on Chinese-made BEVs, impacting the Eletre and Emeya. Similarly, Porsche plans to continue producing internal combustion engine (ICE) models to meet customer demand, moving away from fully electric plans.
