Units of Lotus and electric-vehicle upstart Nio signed an investment pact as the Chinese owner of the iconic maker of British sports and racing cars seeks to transform it into an all-electric brand.
Lotus Technology and Nio will explore collaboration in areas including high-end intelligent EVs, according to a statement. The unit, which develops electric cars for the Lotus brand globally, broke ground on its global headquarters in Wuhan last week and plans to roll out a range of new models over the next five years.
The first, a sport utility vehicle code named Type 132, will debut next year. This will be followed in 2023 by a four-door coupe and another SUV in 2025. An all-new electric sports car, the Type 135, will hit the market in 2026.
The models are in addition to the Evija all-electric hypercar and the Emira, the last gas-powered sports car from Lotus,