Ultimately, Lotus thinks it might not be such a good idea to only offer customers electric cars. The Geely group brand is changing its tune.
Lotus reviews its and embraces the hybrid to meet the expectations of its customers. Faced with the reluctance of buyers of high-end vehicles to go all-electric, the brand is opting for a mixed approach. The brand thus hopes to increase its sales volumes.
The market is always right
Lotus, an emblematic brand of sports automobiles, surprises us with a rather shocking announcement: abandoning its plan to go all-electric by 2028. At the Guangzhou motor show, its CEO, Feng Qingfeng, presented a new roadmap, centered on a hybrid technology called “Super Hybrid”, says Autocar. A choice motivated by the reluctance of luxury car customers to abandon thermal engines in favor of electric ones. This technology integrates a heat engine designed to recharge the battery at an ultra-fast rate. With an announced total range of 680 miles, or more than 1000 km, the system integrates a 900 V electrical architecture! In China, the market for plug-in hybrid and range-extender vehicles is boomingforcing manufacturers to review their strategies. Brands like Zeekr, also owned by Geely, are following suit with similar announcements.
If electric is gradually establishing itself and with more or less difficulty in the general segment, luxury remains a niche where the advantages are not always perceived as differentiating. Feng Qingfeng sums it up as follows: “Luxury car engines already offer exceptional power, and the driving experience remains similar whether we are talking about V8, V12 or electric.” This inertia in the face of the transition to electric particularly hits European brands in China, with Porsche in the lead. During his quarterly earnings call, Porsche CFO Lutz Meschke admitted that the premium electric vehicle segment would remain struggling in China for years to come. A reality which also seems to have inspired the refocusing of Lotus.
Hybrid, an engine of growth?
However, the hybrid was not the solution envisaged by the British brand. The compromises of PHEVs, requiring frequent recharging to optimize electrical use, and the slowness of range extender vehicles when their batteries run out, had dissuaded Lotus from committing to it earlier. But the development of Super Hybrid technology, in particular thanks to the synergy with Geely and its partners like Renault, is changing the situation. The Luyao powertrain, which could benefit from engines supplied by Horse – the joint venture between Geely and Renault – promises to fill the gaps in traditional hybrid systems. In addition, by producing its models in China, Lotus ensures a competitive pricing advantage in Europe, with plug-in hybrids being exempt from the additional taxes recently imposed on Chinese electrics..
The latest figures demonstrate Lotus’ impact on the global market: 8,631 vehicles delivered in the first ten months of 2024, with Europe representing 35% of sales and China 25%. The United Kingdom, the birthplace of the brand, remains a key market, with 1,239 units sold in November. The Eletre dominates sales with 799 units, followed by the Emira at 440 units. These results illustrate the attractiveness of Lotus, but also the importance of renewing itself to attract a particularly demanding clientele. By focusing on hybrid, Lotus seems to have found the perfect compromise: combining the unique sensations of high-end thermal engines with extended range and enhanced electrical performance. This strategic shift reflects a broader awareness: pTo survive in a constantly changing automotive environment, luxury brands must adapt to a fragmented marketwhere expectations vary by region and segment. Through its Super Hybrid technology, Lotus intends not only to meet these expectations, but also to redefine standards.
Source: www.autoplus.fr
