In 2019, Lotus unveiled its first new model in 11 years, the Evija, an electric vehicle that lived up to the marque’s storied supercar history. That designation includes an eye-watering price tag ($2.1 million) and a limited-production run (only 130 will be made). In other words, it’s another dream machine most will only use as a phone background.
Their next project is the exact opposite. Lotus is currently working on a sports car that is not only intended for use as a daily driver, but will be entry-level in both design and price.
“The as-yet unnamed car, destined to be the company’s last combustion-engine model, will be priced between 55,000 pounds ($67,000) and 100,000 pounds, Chief Executive Officer Phil Popham said in an interview,” as Bloomberg reported. “It’ll take design cues from the all-electric Evija hypercar that the U.K. firm bills as the world’s most powerful auto.”
That means you’ll be able to get a brand new Lotus for just north of the base price of the new Corvette. And if the Evija styling turns out to be true, that’ll be welcome news, as it’s one of the few futuristic electric vehicles that won’t look dated in five years.
If you’re wondering why a high-end automaker like Lotus is trying to expand its consumer base (won’t that erode its value among wealthy clientele?), well, everyone’s doing it. Porsche’s highest-selling model continues to be the Macan SUV they introduced in 2014, and everyone from Aston Martin to Rolls-Royce is following suit. But in the case of Lotus, they’re sticking to sports cars for now (though an SUV could come later), and the introduction of a more affordable model is tied to Geely, the ever-growing Chinese automotive group that took control of Lotus in 2017.
“Lotus plans to lift volumes from around 1,600 cars a year toward the 5,000-unit limit of its facilities, said [Chief Executive Officer Phil] Popham, who added that with Geely’s clout, the plans won’t be held back by any hit to sales from the coronavirus,” wrote Bloomberg.
As it stands, Lotus production is on pause because of the COVID-19 pandemic but hopes to restart as early as May 11. The new model will be unveiled later this year or in early 2021.
Subscribe here for our free daily newsletter.
Thanks for reading InsideHook. Sign up for our daily newsletter and be in the know.
