Iconic British automaker Lotus has ditched its plans to be an electric-only brand in the coming years with the launch of a new hybrid supercar.
Lotus has announced its new Focus 2030 strategy, which will enable the brand to boost its competitiveness and move towards a more sustainable business model.
The new strategy is built on four key principles, including brand reinforcement, a multi-powertrain strategy, close partner collaboration and financial discipline.
Lotus, which is owned by Chinese giant Geely, described Focus 2030 as a "significant reset" for the automaker.
Previous plans had targeted a fully electric lineup by 2028, although it has now confirmed it will launch an all-new hybrid-V8 supercar, which is set to launch in 2028.
It stated it would now target an approximately 60 per cent plug-in hybrid and 40 per cent electric vehicle mix in the short term.
Lotus added that it plans to pursue an agile approach across internal combustion engine, plug-in hybrid and battery electric vehicles.
Hybrid technology will play a "central role", Lotus said, while confirming that customers will lead the transition to full electrification.
Lotus confirmed fresh changes to its electric vehicle strategy
| LOTUSQingfeng Feng, CEO of Lotus Group, said: "Lotus was born from the rebellious spirit of Colin Chapman, and that is not lost today. Focus 2030 will reset both the brand and the business to keep us true to our DNA.
"We are obsessed with engineering, obsessed with performance and obsessed with building drivers' cars, and that is what will grow this business."
As part of its use of hybrid technology, Lotus will unveil its first-ever hybrid supercar, the Type 135, which is planned for 2028.
The vehicle will feature a V8 hybrid powertrain, with over 1000PS, and is expected to be manufactured in Europe.
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Lotus has teased its all-new hybrid-V8 supercar, which is set to launch in 2028
|LOTUS
Lotus confirmed that it would confirm further details of the car later this year, alongside future upgrades to its existing models.
It noted that it was committed to manufacturing in the UK and keeping up with consumer demand for combustion engine vehicles.
Daniel Li, Chairman of the Board of Directors at Lotus Technology, and Executive Vice Chairman of Geely Holding Group, said: "Geely has believed in Lotus from the beginning, and that belief has not wavered.
"We are committed to giving Lotus the resources it deserves to compete at the highest level.
Lotus confirmed that its Hethel plant would remain a key base for the brand
| LOTUS"What Lotus brings is irreplaceable, and Focus 2030 is proof that we take that responsibility seriously. We are excited for the next chapter in the brand’s story."
Speaking recently to GB News, Daxue Wang, Chief Financial Officer of Lotus Technology, said Lotus was committed to the UK, with production at its Hethel plant being "consistent".
He added: "Our devotion to the sports car is not going to disappear, but of course, maybe in the future, it's not going to be only the ICE car. There could be something in the hybrid cars, or a combination of the two powertrains.
"For the sports car point of view and perspective, the UK and Hethel are going to be the most important base for our future operations in this regard."