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Why Lotus thinks its luxury EV game plan will succeed globally

  Luxury sports car and EV maker Lotus completed its SPAC merger last week in the U.S. and its stock was publicly traded for the first time on Friday. It’s an interesting turn of events for the Geely-backed automaker now known as Lotus Tech given the uncertain EV market, but one that may prove an exception to the struggles of other pure-play EV makers. Trading under the ticker LOT on the Nasdaq, Lotus Tech will focus on the higher end of the EV market with its Eletre SUV and Emeya sedan, which will not only be offered in the US but also in Europe and, more importantly, China. “What is most important here is that we are definitely going to more markets at the same time through more models and through more stores,” said Lotus Tech CFO Alexious Lee to Yahoo Finance from the Nasdaq market site. By the end of the year Lotus will have four vehicles in production, three of them EVs. “These four models are currently available in Asia Pacific and part of it is also available in UK and EU,” Lee said. “We're having the new [Eletre] SUV model coming into the U.S. in the third quarter of this year, so different markets have different strategies and different product offerings and different conditions." Lotus is able to go to market in a number of territories due to the backing of its majority owner, Chinese auto giant Geely. But it also raised a considerable amount of money through its SPAC merger. Lotus Tech said it raised more than $880 million in pre-closing and PIPE financing commitments, with a targeted valuation on listing day of nearly $7 billion. Lotus Tech also had an interesting partner with its SPAC merging, combining with L Catterton Asia Acquisition Corp (LCAA), which is backed by French luxury conglomerate LVMH. Lotus Eletre in Solar Yellow View 11 Photos As Lotus targets the luxury segment with its vehicles — the Eletre and Emeya will be playing in the $80,000 to $150,000 ballpark — having a partner like LVMH, with its deep connections and insights into the luxury consumer, could be hugely beneficial. “Now what is more important here is Anish Melwani, who is the CEO for LVMH North America, will be on the board of Lotus Tech,” Lee said.

2020 Lotus Evora GT First Drive | Exquisitely analog

OJAI, Calif. — WeÂ’ve glimpsed LotusÂ’s EV-powered, 2,000-horsepower, $2 million future, and itÂ’s a glorious vision, for sure. But the boutique brand has also updated its more attainable gas-powered offerings back here on Earth, in the form of the 2020 Lotus Evora GT. Our first drive offered a revealing (and thrilling) taste of what might be among HethelÂ’s last traditionally-powered sports cars. For those unfamiliar with the Evora, the diminutive 2+2 was launched in 2009 as a grand touring-capable alternative to the laser-focused, ultra-featherweight Elise. Power hails from a Toyota-sourced 3.5-liter V6 with Lotus-modified induction and exhaust hardware, with everything from the throttle calibration to the spark plugs tweaked, and oil sump baffles added to reduce sloshing during high g-force maneuvers. While supercharger oomph was added to the Evora 400Â’s powerplant in 2015 (breaking the, you guessed it, 400 horsepower barrier), the latest GT spinoff incorporates mods from the non-U.S.-spec Evora 430, which brings total output to 416 hp and 317 lb-ft of torque. As before, a six-speed manual comes standard (and accounts for approximately 70% of sales), while an automatic adds $2,700 to the $96,950 starting price. Thanks to an infusion of carbon fiber and composite bits, the Evora GT tips the scales at only 3,175 pounds – for context, thatÂ’s only 33 lbs more than a Porsche 911T – aided by a bonded aluminum tub that manages both light weight and excellent torsional rigidity. Opt for the carbon pack ($10,000), and youÂ’ll shave an additional 71 pounds from the equation. Further mass reduction is available via forged wheels ($3,250) and titanium exhaust ($8,000). Revised aerodynamics in the form of tucked-in wheel arch vents, a slight drop in ride height, and a larger rear spoiler conspire to double downforce, producing 160 lbs of force at the 188-mph top speed. If youÂ’ve ever endured the awkward ingress and egress of a Lotus Elise, the Evora feels refreshingly conventional: simply slide in, click in, and adjust your mirrors diligently because, at least if youÂ’ve ordered the carbon package, visibility through the rear windows is almost entirely obscured by thick louvers. Like that other British performance brand (looking at you, McLaren), Lotus stuck to its guns by retaining a hydraulic steering rack that conveys road surface nuances and feedback with refreshing accuracy.

Jeep Grand Cherokee Trailhawk and a Final Four of automakers | Autoblog Podcast #723

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by Consumer Editor Jeremy Korzeniewski. We start out with news on the Lotus Eletre and Ferrari Purosangue. These two high-end crossovers are followed by discussions about the new inline-six engines from Stellantis and an overabundance of Hummer EV orders. Next we try something we've never tried before: ranking automaker blue bloods. We took inspiration from the current NCAA tournament, which features Duke, North Carolina, Villanova and Kansas — very much traditional blue-blood basketball programs — to name our Final Four automakers. Let us know if you agree or disagree with our picks and what your definition of a blue blood car brand is. We wrap up with a discussion about the Jeep Grand Cherokee Trailhawk that Jeremy's been driving all week. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #723 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown Lotus Eletre Ferrari Purosangue Stellantis inline-six Hummer EV orders Cars we're driving Jeep Grand Cherokee Trailhawk Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Podcasts Ferrari Hummer Jeep Lotus Crossover SUV Electric Luxury Off-Road Vehicles Performance