British sports car brand Lotus Cars Limited was founded in 1952. With its design philosophy of lightweight, high performance and superior handling, Lotus quickly became an icon in the sports car industry, especially in Formula 1 racing. However, in the late 1970s, the brand encountered financial difficulties and scandals that greatly affected its reputation.
Despite many upheavals and changes in ownership, Lotus was unable to maintain sustainable growth until Geely Group acquired a 51% stake in 2017. This opened a new chapter for the British brand, helping Lotus revive strongly with advanced electric vehicle models.
In recent years, Lotus has continued to make its mark with the Lotus Evija electric supercar, with a capacity of up to 1,973 horsepower, demonstrating the company's commitment to technological innovation and meeting the electric vehicle trend.
In November 2023, Lotus Technology, the electric vehicle arm of Lotus, successfully raised $870 million, raising the company's valuation to $5.5 billion, with support from LVMH.
Lotus Technology's revenue is forecast to increase sharply in the coming time, with a target of reaching 8.6 billion USD by 2025. The company also aims to become a fully electric car manufacturer by 2028.
Lotus sales continue to set new records, with more than 2,000 cars sold in December 2024, and are expected to surpass the 10,000 mark by 2025.
Geely's bold move with Lotus could signal potential opportunities in the electric vehicle industry, similar to the cooperation between Geely and Tasco, opening up great prospects for the electric vehicle market in the future.
