Competition amongst electric car companies is heating up, especially in China, which is considered the world’s largest auto market.
Lotus Technology established its global headquarters on Tuesday in Wuhan, China, during a ground-breaking ceremony in which the company announced plans for four new electric vehicle (EV) models by 2026, according to a press release.
The first, the Lotus Type 132 E-segment SUV, will be the company’s first release and is expected to launch in 2022.
Following the Lotus Type 132 in 2022, the company will release the Type 133 four-door coupe in 2023, before releasing the Type 134 D-segment SUV in 2025, and finally the Type 135 sports car in 2026.
The news comes on the heels of Tesla’s first deliveries of the Model Y Standard Range variant in China. The Type 132 SUV will likely be a direct competitor to Tesla’s Model Y.
Lotus Technology’s headquarters in Wuhan will be officially completed in 2024, with a new Lotus factory set to open later this year. A division of Group Lotus, the company isa to be an “intelligent technology” subsidiary.
The new EVs will be added to the likes of Lotus Cars’s final gas-powered sports car, the Emira, and fellow all-electric hypercar, the Evija.
Matt Windle, Lotus Cars’ Managing Director, said, “The launch of Lotus Technology is a major milestone on the road to making that a reality, while adhering to the unwavering Lotus principles of pure performance, efficiency, motorsport success and, above all, being ‘For the Drivers’.”
Contributing Writer at TeslaNorth.com from California’s southeast Bay Area. Covers electric vehicles, space exploration, and all things tech. Loves a good cup of coffee, live music and puppies. Buying a Tesla? Click here to get 1,000 free Supercharging miles.