Photo Credit: Lotus
England-based automaker Lotus used the 2019 Shanghai Auto Show (April 16th-25th, 2019) to unveil their first new car in 11 years. The Lotus Type 130 is being billed as “ the first fully-electric British hypercar.”
The news comes in tandem with the information that Lotus’ parent company, Geely has inked a deal to begin producing its first cars in Wuhan, China. Part of a $1.3 billion investment, the Wuhan automotive production facility is cited by Lotus reps as being an important part of future plans. According to them, it would not be possible to produce a car as innovative as the Type 130 in their native England for a cost that would allow it to be profitable.
After having a shaky sales history in North America – and having been acquired by Chinese automotive giant Geely – Lotus executives are optimistic the new electric vehicle will mark a turning point in a brand with a 71 year long history. The Lotus Type 130 is planned to be a “halo car” for the brand with hopes that it will invigorate new business around the world.
Predicted to cost upwards of $1 million, the forthcoming Lotus Type 130 is meant to compete against the best cars from brands like Bugatti, Lamborghini, and Aston Martin.
Lotus Plans to Release the First Fully-Electric British Hypercar
“It’s a statement of intent: Electric is part of the strategy going forward,” said Phil Popham, chief executive officer of Lotus. “For Lotus, it has to be all about the driving experience—and electric will drive the value of every car we make.”
Lotus came to Shanghai with only limited details available about their new concepts. The car is claimed to be in the “advanced stages of development” but media at the Auto Show were only shown artistic renderings and some technical specifications pertaining to the new Type 130.
Lotus has suggested that it will release a physical prototype and more information about its new car at the London Motor Show (May 16th-19th) later this month. At that time, the company is also planning to share more information about the Lotus Evora GT4 Concept race car.
The Evora GT4 is said to be a track-only car with an ultra-lightweight carbon fiber body, a 450 horsepower V6 engine and a top speed of 170 miles per hour. Both cars are the result of a major investment on the part of a £1.5 billion ($1.97 billion) investment from Geely. The Chinese automotive leader is hoping to establish new international interest in the Lotus brand.
Throughout the 1970’s and 80’s Lotus was synonymous with wins on the racetrack as well as being connected to international jet setters. Many of rock and roll and the sports world’s top stars loved to show off in their Lotus’ during this time period.
In 1978, Mario Andretti won America’s last Formula 1 World Championship as a professional driver for Team Lotus. Cars such as the wedged Esprit became extremely influential despite critiques against their fickle mechanics, cramped interior space, and less than luxury build qualities.
The Future is Bright
Geely, who also owns Polestar and Volvo, has made strategic investments in Lotus which it hopes will push the brand to new heights. At company headquarters in Hethel, Geely has funded a 2.3 mile race track, experience center, public restaurant, and company museum in an effort to build on the historic pedigree of the brand.
Lotus CEO Phil Popham ensured that the brand would remain uniquely British despite outside investment: “Geely knew with Lotus it was buying a brand with equity. Volvo is the example of what can be done, a sustainable and global brand which is still very much a Swedish brand. Lotus is a very British brand.”
Lotus has over 1,100 employees; the company is also planning to add as many as 500 employees around the world over the next three to five years. The company has additional plans to release a new Lotus SUV and sports car over the next couple of years.
“We are now on a brand-building exercise and the launch of the hypercar is part of that.Lotus hasn’t done anything for quite a while because it has not had the funding, nor the resources. We want to take the brand back to where it was and take it to where it could be,” said Popham.
The brand is also considering opening a classics department which would allow its cars such as the Eclat, Esprit, or Europa to be customized with either dead stock or modern components. Other British brands such as Aston Martin, Jaguar, and Land Rover have been very successful with similar programs.
Source: Driving