May 12 — British luxury sports car maker Lotus Cars announced Tuesday that it will scale back its all-electric ambitions and adopt a hybrid-focused strategy as slowing electric vehicle demand and reduced government subsidies reshape the global auto market.
The company, owned by Chinese automotive giant Geely Holding Group, said it now plans for a future lineup consisting of 60% hybrid vehicles and 40% battery-electric models under its new long-term roadmap called “Focus 2030.”
Lotus had previously aimed to become an entirely electric brand by 2028, but weaker-than-expected EV adoption worldwide has pushed several automakers to rethink aggressive electrification targets.
As part of the strategy shift, Lotus confirmed plans to launch its first-ever supercar, named Type 135, in 2028. The vehicle will be manufactured in Europe, with more technical details expected later this year.
The automaker also highlighted strong early demand for its plug-in hybrid SUV, Eletre X, which has received more than 1,000 preorders in China. European deliveries are scheduled to begin before the end of the year.
Industry analysts say the move reflects a broader trend across the automotive sector, where companies are increasingly leaning toward hybrid technology as consumers remain cautious about fully electric vehicles due to charging infrastructure concerns, high prices, and shrinking subsidy programs.
To improve efficiency and reduce costs, Lotus said it plans to merge Lotus UK and Lotus Technology into a single entity. The company also intends to deepen cooperation with Geely to strengthen supply chains and jointly develop new technologies.
“We are committed to giving Lotus the resources it deserves to compete at the highest level,” said Daniel Li, executive vice chairman of Geely and chairman at Lotus Technology.
Lotus confirmed it will continue producing the Lotus Emira sports car in the United Kingdom. The company cut up to 550 jobs last year but kept its key manufacturing facility operational.
Under the Focus 2030 strategy, Lotus expects annual sales to reach 30,000 vehicles, with China projected to remain its largest market by volume.