Lotus EV bankrolled by world's richest man!

[JimH]

It's confusing. It looks like they spinning out just Lotus Technology, the EV business based in China. If that's so, where does that leave the rest of Lotus Group, especially Lotus Cars in the UK which lacks EV expertise or resources?

And who will own/control/design the electric sports car replacing the Emira?

The type 135 electric sports car is planned for Hethel production from "around 2026", alongside and then replacing the Emira....

This is worth a read too :

https://www.sec.gov/Archives/edgar/data/1841024/000110465923008631/tm234838d9_425.htm

 

[Nick in Sydney]

The investor presentation states that ICE model production at Lotus will end in 2026. That's pretty definitive. There will only be three more years of petrol-powered Emira. (see footnote on page 9 and repeated on page 13).

A footnote on page 15 states that "the Emira is expected to be converted to BEV from 2027 onwards". I take this to mean that the Type 135 is effectively just an electric version of Emira and may even retain the Emira name.

I actually found the presentation a real eye-opener. Within 3-4 years Lotus will be a manufacturer of luxury electric vehicles with a strong focus on SUVs and sporty sedans (think Cayenne, Macan and Taycan). I came away with the impression that sports cars are a bit of a distraction from Geely's main game, something they're continuing to support (for now) mostly because they need to protect and nurture the all-important Lotus brand.

Lotus UK will end up as a very small subsidiary within the group that helps sustain the sporty DNA and history of the brand by selling an electric version of the Emira. You have to wonder whether Lotus UK will ever get the funding to develop an all-new sports car after the Type 135.

 

[robrmon]

The type 135 electric sports car is planned for Hethel production from "around 2026", alongside and then replacing the Emira....

This is worth a read too :

https://www.sec.gov/Archives/edgar/data/1841024/000110465923008631/tm234838d9_425.htm

This was a good find, thank you

 

[Superman]

The type 135 electric sports car is planned for Hethel production from "around 2026", alongside and then replacing the Emira....

This is worth a read too :

https://www.sec.gov/Archives/edgar/data/1841024/000110465923008631/tm234838d9_425.htm

This is an excellent read, thanks for posting the link. Really interesting to get an overview of the future direction for Lotus and the Emira.

The investor presentation states that ICE model production at Lotus will end in 2026. That's pretty definitive. There will only be three more years of petrol-powered Emira. (see footnote on page 9 and repeated on page 13).

A footnote on page 15 states that "the Emira is expected to be converted to BEV from 2027 onwards". I take this to mean that the Type 135 is effectively just an electric version of Emira and may even retain the Emira name.

I actually found the presentation a real eye-opener. Within 3-4 years Lotus will be a manufacturer of luxury electric vehicles with a strong focus on SUVs and sporty sedans (think Cayenne, Macan and Taycan). I came away with the impression that sports cars as a bit of a distraction from Geely's main game, something they're continuing to support (for now) mostly because they need to protect and nurture the all-important Lotus brand.

Lotus UK will end up as a very small subsidiary within the group that helps sustain the sporty DNA and history of the brand by selling an electric version of the Emira. You have to wonder whether Lotus UK will ever get the funding to develop an all-new sports car after the Type 135.

Some really interesting data / projections in there for sure. And perhaps not unexpectedly, the main focus is clearly on the 'luxury' SUV & Sedan market.

One very interesting bit of data I picked out that is pertinent to this forum is the Emira sales/production numbers projection - Slide 41 shows:

3k in 2023
6k in 2024
6k in 2025

(A small proportion of the overall figures)

 

[dgrace]

Juxtoposing this page with the knowledge that Lotus can't even get rain-sensing wipers to work had me literally laughing out loud:

 

[kitkat]

Juxtoposing this page with the knowledge that Lotus can't even get rain-sensing wipers to work had me literally laughing out loud:
View attachment 22003

To be fair, my model 3 does an okay job at keeping the lane and driving in stop and go traffic by itself, but it's absolutely garbage at figuring out when to wipe the windshield lol.

 

[4MIR3]

So Emira will convert to EV in 2027… 135 debuts 2025… so 3 total EV sports cars.

 

[CDM1855]

It would make sense for the EV sports car to be an Emira, but it makes you wonder why they introduced two ice engine versions first

 

[dgrace]

I'm _very_ curious how many actual Eletre customer deliveries will happen in 2023. 50k sales/yr seems pretty optimistic from a brand new design in a new factory.

 

[KusaKusa]

Interesting that the NA stores/dealers aren't increasing nearly as much as other regions in the next 2 years. China is a given, but even UK and EU are growing a lot more, even though Lotus has said the US is an important region. Maybe because NA BEV growth isn't as much as other regions. It's all a shame.

 

[robrmon]

I’m not sure how I feel about the Emira being converted to an EV in 2027. Can’t they make a different model/shape car?

 

[Concept24]

What happens if the showrooms have only EVs and attracts few sportscar afficionados?
Currently, how many 911/Boxster/Cayman drivers have switched to Taycans or a less expensive alternative? Something tells me that at some point, the people will revolt.

 

[idleuser]

Interesting find! Taking battery prices into account from 2023 at $152/kWh. It would cost about $10,640 with a 70kWh battery pack to the price of the Emira. This isn't including electric motors, cooling and what not. once can safely assume that it will cost over 100k USD for a 200mile performance ev.

Lithium-ion Battery Pack Prices Rise for First Time to an Average of $151/kWh | BloombergNEF

BloombergNEF’s annual battery price survey finds prices increased by 7% from 2021 to 2022 New York, December 6, 2022 – Rising raw material and

about.bnef.com

I have my doubts that lotus is actually converting the Emira over to bev. Type 135 will probably be the same skateboard design to save on cost.

 

[Nick in Sydney]

I’m not sure how I feel about the Emira being converted to an EV in 2027. Can’t they make a different model/shape car?

Actually, having done a bit more background reading, I suspect the presentation has chosen its words incorrectly. I don't think the Emira is going to be converted to an EV, I think it's going to be replaced by the Type 135 which will be an all-new electric car built on the E-sports architecture being shared with Alpine.

I'd expect that the exterior will look fairly similar to the Emira and be presented as a natural evolution of the design.

 

[Superman]

I have my doubts that lotus is actually converting the Emira over to bev.

Actually, having done a bit more background reading, I suspect the presentation has chosen its words incorrectly. I don't think the Emira is going to be converted to an EV, I think it's going to be replaced by the Type 135 which will be an all-new electric car built on the E-sports architecture being shared with Alpine.

I am not so sure...

Slide 14 states that there will be "3 all-electris sports cars" by 2027 (and there is no mention of any other sports car platform anywhere in the presentation pack, so this must therefore refer to Evija, Emira & Type 135). Note 2 on that slide, I am taking to refer to the Evija, Emira and presumably Type 135, rather than to any as yet undisclosed additional sports cars.

Slide 15 (note 4) states that "the Emira is expected to be converted to BEV from 2027 onwards" (Sure, they only use the word "expected", but taken in the literal sense, that is what they are currently planning to do).

I'd expect that the exterior will look fairly similar to the Emira and be presented as a natural evolution of the design.

This I would agree with, and I am actually quite excited to see what the Type 135 actually looks like!

 

[Superman]

What happens if the showrooms have only EVs and attracts few sportscar afficionados?
Currently, how many 911/Boxster/Cayman drivers have switched to Taycans or a less expensive alternative? Something tells me that at some point, the people will revolt.

I do think the sports car market still has to make some 'adjustments' related to the move to BEVs, particularly in terms of buyers' expectations (available range when driven 'enthusiastically' being a prime example - possible advancements in battery tech/weight/pricing may help in that space), but I think the overall automotive market move to BEVs has so much momentum, there will be no revolting of the people now.

 

[JimH]

Actually, having done a bit more background reading, I suspect the presentation has chosen its words incorrectly. I don't think the Emira is going to be converted to an EV, I think it's going to be replaced by the Type 135 which will be an all-new electric car built on the E-sports architecture being shared with Alpine.

I'd expect that the exterior will look fairly similar to the Emira and be presented as a natural evolution of the design.

I'll just leave this here too :

Lotus reveals pioneering blueprint for next generation electric sports cars - Lotus Cars Media Site

media.lotuscars.com