A historic British manufacturer has announced a huge change to its global operations as it aims to grow its presence as a global brand.
Lotus Technology Inc has confirmed the acquisition of 100 per cent of the equity interests in Lotus Advance Technologies Sdn Bhd, which is also known as Lotus UK.
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The brand has now become one integrated global business under a single corporate structure following the completion of the Lotus UK acquisition.
Lotus highlighted that the move would bring its sports car business, engineering consultancy and next-generation intelligent vehicle technologies under one roof.
It noted that this was a “significant milestone in Lotus’ evolution” and would create a unified global organisation.
The new unified brand will be based at the Lotus headquarters in Hethel, Norfolk, which remains the manufacturing base for the British staple.
It is also the base of Lotus Engineering, which has been instrumental in lightweight engineering and developing chassis dynamics and impressive aerodynamic features.
Qingfeng Feng, chief executive officer of Lotus Tech, said: “Lotus is one brand and one strategy, and from today it is one business.
“Everything that makes Lotus a Lotus – the engineering, the obsession, the discipline – now sits in a single organisation.
“It unifies the brand, increasing our global competitiveness and accelerating product development and go-to-market speed.”
Mr Feng emphasised how the new unified brand was an “important step” towards its Focus 2030 strategy.
This business model for the end of the decade aims to boost the brand’s competitiveness, ensure market resilience and move forward with a multi-powertrain strategy.
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It noted that it would target an approximate powertrain mix of 60 per cent plug-in hybrid and 40 per cent battery electric vehicle mix over its electrified portfolio.
The model, which was first unveiled in May earlier this year, will oversee the unveiling of its new V8 hybrid Type 135 in 2028.
Mr Feng also highlighted the importance of Lotus’ global revitalisation, which will include a close collaboration with China’s Geely Holding Group.
Lotus noted that the new global company would be a “collaboration across engineering, manufacturing, product development and commercial operations”.
It also aims to streamline governance and accelerate the integration of these features across the wider business.
In June, Lotus opened deliveries for its stunning hybrid Eletre X model in mainland Europe from €96,990 (£82,993).
The 900V architecture provides up to 952 PS and 935 Nm of torque, in addition to a staggering 350km of electric range and a total 1,200km range.
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