Lotus Revamps Electrification Strategy: Adopts Three-Pronged Approach with ICE, Hybrid, and EV—Type 135 to Feature F1 Technology

Lotus Group has revised its electrification strategy, shifting from its original plan to go fully electric by 2028 to a new "Focus2030" strategy that pursues a three-pronged approach encompassing internal combustion engine (ICE), hybrid, and pure electric vehicles. CEO Feng Qingfeng stated that this adjustment stems from slower-than-expected global EV market penetration and multiple European countries delaying their timelines for phasing out ICE vehicles—challenges commonly faced by ultra-luxury automotive brands. As part of the new strategy, Lotus will develop a high-performance hybrid model codenamed Type135 based on the Luyao Super Hybrid architecture. The vehicle will incorporate Formula 1-derived technologies and be powered by a large-displacement V8 engine. Additionally, Lotus has exported 18 units of its Eletre all-electric SUV to Canada, becoming one of the first Chinese brands to export premium new-energy vehicles overseas. On the business front, Lotus indicated that it can achieve breakeven at an annual sales volume of 30,000 units. From January to September 2025, its sales in the Chinese market grew by 11% year-over-year, achieving逆势 growth amid an overall decline in sales of passenger vehicles priced above RMB 400,000.