Lotus ELETRE

The financial report shows that Lotus Technology achieved operating income of US$679 million in 2023, with a gross profit margin of 15%. Among them, revenue in the fourth quarter of 2023 reached US$361 million, a year-on-year increase of 92%. Officials stated that this performance was due to the asset-light business model adopted by Lotus Technology, and the company also increased the production and sales of pure electric vehicles.

In 2023, Lotus Technology delivered a total of 6,970 vehicles, setting an annual delivery record in the 76-year history of the Lotus brand, of which pure electric models accounted for 63% of the total delivery volume. In the fourth quarter of 2023, Lotus Technology’s delivery volume increased by nearly 110% quarter-on-quarter to 3,749 vehicles. The growth in delivery volume was mainly due to the expansion of ELETRE production and sales in the second half of the year.

As of December 31, 2023, Lotus Technology’s global stores have expanded to 215, an increase of 46 stores compared with 2022. In 2023, Lotus Technology will deploy in major strategically important cities around the world, opening new stores in prime locations such as the Golden Triangle in Paris, Mayfair in London, and Gangnam in Seoul.

“Lotus EMEYA (panoramic view of the car) blooming flowers”

2024 will be a critical year for Lotus Technology to implement the “Vision 80 Strategy” and will accelerate the delivery of more product portfolios in new markets. In March 2024, Lotus Technology began delivering the first pure electric supercar EMEYA Fanhua. The car has been delivered in China. As Lotus’s first pure electric large coupe, it is equipped with dual motors, with the front motor having the highest power. It is 225 kW, the maximum power of the rear motor is 225/450 kW, and the CLTC cruising range can reach 600km. Its body contains many active aerodynamic components, focusing on driving control. A total of 4 versions including special editions have been launched, priced from 668,000 to 1.18 million RMB. Lotus Technology expects to achieve delivery in Europe in the third quarter of 2024.

In addition, Lotus Technology’s pure electric supercar SUV ELETRE model will gradually enter more markets including the United States. In 2024, Lotus Technology expects total deliveries to approximately triple to 26,000 vehicles, and further increase gross profit margin to 17%-19%.

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The upgrade content is as follows:

• New Dolby Atmos and 7.1.4 sound system, the official said can create a “theatre level” audio and video entertainment experience, corresponding to the launch of the LOTUS HYPER Music App, the sound source from the Sony Dolby Atmos (before June 30, 2025, can be experienced for free). Meanwhile, the in-car QQ Music App also welcomes Dolby Atmos sound quality.

• New seat massage modes are available for personalized selection, with up to 5 modes: Wave, Waterfall, Pulse, Shoulder and Lumbar, and each mode supports three levels of intensity: Gentle, Standard and Powerful. Front seat massage is accessed via the air conditioning button in the center control panel, and rear seat massage (four-seater models only) is accessed via the settings button in the rear control panel.

• In-vehicle navigation supports the planning of up to 3 route points, which can be edited and reordered. The new Gaode account data synchronization function allows you to synchronize the location data of frequently used, favorite and historical destinations from your cell phone’s Gaode account to the car. In addition, the “Hawk-Eye Map” display is added during the navigation process, and the navigation experience of the Lutus Flash Station is optimized, with new information about the entrance guidance of the Flash Station, and the ground lock can be operated directly on the vehicle terminal after making a reservation.

• New voice volume and phone volume are adjusted separately in the car interface.
• Upgraded the synchronization function between the cell phone and the car, for example, after changing the avatar/nickname in the cell phone app, the car screen will be synchronized and updated.
• New N-shift anti-touch function, if the speed of driving or reversing exceeds 3km/hour, you need to keep the shift lever pressed for more than 1 second before shifting to N-shift, otherwise, it will be regarded as a false touch.
• For the high-performance Eletre R+ models, the traction control system (VTC) has been “unlocked” and is adjustable in five gears. The user can set the parameter values for the amount of traction according to their own driving habits by controlling the traction in different stages.

On October 25, 2022, the Roadster Eletre was officially launched, with a reference price of 828,080-102,800,000 yuan. As a pure electric luxury medium-sized SUV focusing on sports performance, the Lutz Eletre is divided into two versions:

• LUTZ Eletre S+ version: priced at RMB 828,000, to be delivered in March 2023
• LRT Eletre R+: priced at RMB 1,028,000, with delivery in May 2023

The car supports 800V high-voltage fast charging, which allows it to travel 120km in 5 minutes, and replenish the battery from 10% to 80% in 20 minutes; the battery pack has a capacity of 112kWh, and the CLTC ranges are 650km and 560km, respectively.

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Lotus Eletre S+ version: 828,000 CNY, will be delivered in March 2023

Lotus Eletre R+ version: priced at 1.028 million yuan, will be delivered in May 2023

Lotus Eletre is built based on the EPA structure and is positioned as a pure electric medium and large SUV. The length, width and height of the new car are 5103/2019/1630mm (the width does not include rearview mirrors), the wheelbase is 3019mm, and the drag coefficient is only 0.26cd.

There are two versions of the power available, equipped with a front and rear dual-motor four-wheel drive system. The combined maximum power of the Tesla Eletre S+ is 450kW, the combined maximum power of the Lotus Eletre R+ is 675kW, and the peak torque is 710N・m and 985N・m respectively, and the new car is matched with a two-speed gearbox on the rear axle motor, which can accelerate from 100 kilometers to 100 kilometers. The times are 4.5 seconds and 2.95 seconds, respectively.

In addition, the new car supports 800V high-voltage fast charging function, which can travel 120km in 5 minutes, and it only takes 20 minutes to replenish the power from 10% to 80%; the battery pack capacity is 112kWh, and the CLTC cruising range is 650km and 560km, respectively.

With a charging power of 350kW, the battery can last for 400 kilometers in 20 minutes, and is compatible with 22kW AC power charging. The track version of the R+ is equipped with the Track exclusive track driving mode. It comes standard with the R+ exclusive carbon fiber package and SMC canopy and other track-level configurations. The 420kW supercharger can be charged from 10% to 80% in the fastest 20 minutes.

Lotus Eletre is equipped with 5 LCD screens and a through-type center console light strip, which can reflect different vehicle states through color changes. The large central control screen equipped in the car supports folding and opening, built-in dual Qualcomm 8155 car chip, compatible with 5G network, and supports OTA upgrade and voice recognition technology.

In addition, the new car is also equipped with 4 128-line LiDAR, 7 8MP cameras and 4D millimeter-wave radar, matched with 2 NVIDIA 7nm Orin chips with 508TOPS computing power, with One-Box braking system, air suspension, CDC, Active stabilizer bar, rear-wheel steering and vehicle stabilization system.

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In March this year, Lotus unveiled its first pure electric Hyper SUV, the Lotus Eletre, in the UK, officially marking the most important milestone in the transformation to an electrified and intelligent performance car brand.

The new car uses dual front and rear motors with a combined power of more than 447kW (608 hp) and a maximum output of nearly 1000hp. The new car is equipped with a two-speed gearbox on the rear axle motor and an electronically controlled four-wheel drive system, which accelerates to 100km in 2.95 seconds.

With 350kW charging power, the range is 400km (248 miles) on a 20-minute charge and is compatible with 22kW AC charging. 600km (373 miles) on a full charge in WLTP mode.

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Interestingly, Lotus Eletre would have no real competitor in the market as Lamborghini Urus which it closely matches in dimensions is petrol-powered. While Ferrari Purosangue will be a hybrid. In fact, with the same dimensions, the design of the Eletre confers the car more room inside. The Eletre is just 2cm shorter than Mercedes EQS SUV.

Lotus Eletre: Design and specifications

Eletre uses an all-new platform created by Lotus than adapting any from the pre-existing Geely hardware. The investment seems justified when we consider that the aluminum architecture, which the company calls the Electric Premium Architecture (EPA) can be adopted to models that are smaller as well as larger than the Eletre. EPA is a skateboard-style design that is adaptable not only to models of different sizes but also to models that choose to employ different battery sizes, electric motors. component layouts and intelligent driving technologies.

Eletre would come in three iterations, varying in their performance and other specifications. All versions would be four-wheel drives. The car would achieve a top speed of 162mph and an under 3 seconds period for its 0 to 62mph race.

Now owned by Geely, the company’s natural priority would be the Chinese market. The second crucial market for the brand would be US and Lotus seems confident of an uptake later in mainland Europe and UK. Europe and UK. The Eletre would be manufactured at the new Lotus plant in Wuhan, China. When the car opens for sales at the start of 2023, it is expected to cost under 100,000.

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