More EV backtracking as Lotus doubles down on EREV

Geely’s UK luxury brand Lotus has become the latest automaker to dial back the electric vehicle (EV) vision in favour of hybrids as a safer option. Under the Vision80 Strategy the company aimed to become “an all-electric, intelligent and luxury mobility provider” before its 80th anniversary in 2028. In 2023, EVs accounted for 63% of total deliveries. In the fourth quarter of that year, total deliveries jumped nearly 110% quarter-over-quarter to 3,749, driven primarily by Eletre, its first ‘lifestyle’ EV.

The automaker had predicted that 2024 would be a ‘pivotal’ year for the execution of Vision80. In March 2024, it began deliveries of Emeya, its first electric hyper-grand tourer. The all-electric Eletre hyper-SUV made its debut in the US in September 2024, a pivotal market for SUVs. In conjunction with its EV models, Lotus has established 65 super charging stations equipped with its 480kW fast charging solution in China. These are part of a charging network across Europe and China of about 300,000 public charging stations available to Lotus owners. The plan was to continue expanding the charging network across Europe and the Middle East as its EVs rolled out in new markets.

But then came then launch of its Hyper Hybrid EV technology at the Guangzhou Auto Show.