For the first time in Lotus’ history, the iconic British sports car is set to be manufactured in China. The move will enable the company to boost its presence worldwide as part of its ongoing expansion strategy, which will see the business amplify production and look at developing new models to cater towards burgeoning markets.
Set to be manufactured in a new $1.3bn factory in Whan City, situated in Hubei province, it also forms part of Zheijiang Geely Holding Group’s efforts to make a significant impact on the business since it purchased a majority stake in 2017, alongside a 49% in Malaysian car manufacturer, Proton.
Set to build up to 150,000 vehicles per year, according to recent government documents, it has been revealed that the company will look to move into developing SUVs, catering towards increased demands, particularly across the Chinese market. The share of luxury SUVs in China's overall passenger car market grew from 4.07% in 2014 to 5.01% in 2018, Business Insider has reported.
The new manufacturing facility will also look to build electric cars and hybrid vehicles, where 20 vacancies have been advertised. Long-term, the business will look towards competition with premium cars brands, such as Ferrari and Porsche.