The announcement came alongside the news that Geely had shipped 18 Lotus Eletre electric SUVs to Canada, becoming the first automaker to export China-made EVs to that market under a new trans-Pacific trade deal.<\/p>\n
![\"BRUSSELS,](\"https:\/\/www.europesays.com\/canada\/wp-content\/uploads\/2026\/05\/0be07b37-786e-4b76-b5a3-073e9ccddf03.jpeg\")
The Lotus Evija Fittipaldi tribute to the Lotus 72, driven to victory by Emerson Fittipaldi in the 1972 F1 season, limited-edition electric sports car on display at the AutoSalon press preview on Jan. 9, 2026, in Brussels, Belgium. (Sjoerd van der Wal\/Getty Images) \u00b7 Sjoerd van der Wal via Getty Images <\/p>\n
Lotus spent much of the past four years building out a full EV portfolio \u2014 the Eletre SUV, Emeya GT sedan, and $2 million-plus Evija hypercar \u2014 and positioning itself as a high-performance electric brand.\u00a0Its current gas-powered sports car, the well-regarded Emira, would eventually be phased out.<\/p>\n
Read more:\u00a0How to find the best luxury car insurance<\/a><\/p>\n But uneven demand for expensive EVs forced a new plan. Focus 2030 keeps all current vehicles in the lineup, adds new powertrains to those cars, and introduces new vehicles, aiming for a 60-40 split in favor of plug-in hybrids over pure electrics.<\/p>\n \u201cIt\u2019s just a strategic transition. It\u2019s a reflection of the market demand,\u201d Lotus CFO Daxue Wang said in an interview with Yahoo Finance, adding that eventually he sees \u201cfull electric mobility\u201d coming, but didn\u2019t say when that would be.<\/p>\n Part of the equation to help boost sales is a new proprietary system Lotus calls X-Hybrid. The technology debuted on the Eletre X, sold in China under the name ForMe, offering 952 horsepower, an EV-only range of 217 miles, and a combined range exceeding 745 miles. More than 1,000 preorders were placed in China within the first month of availability. European customer deliveries are scheduled for the fourth quarter of 2026.<\/p>\n \u201cThis hybrid represents an entirely new proposition in the market, featuring a larger battery and a more thermally efficient engine,\u201d Wang said. \u201cIt merges with our proven ICE [internal combustion engine] and BEV [battery electric vehicle] performance engineering heritage, delivering extended range and greater versatility and sustained higher performance.\u201d<\/p>\n The headline product announcement, however, is the Type 135 \u2014 a hybrid V8 supercar producing more than 1,000 horsepower, confirmed for a 2028 launch, with price and market availability coming soon.<\/p>\n On the financial side, Focus 2030 targets 30,000 annual sales units as the threshold for sustained profitability \u2014 a figure the company has not yet reached. Lotus also confirmed it is merging its two operating entities, Lotus UK and Lotus Technology in China, into a single corporate structure before the year\u2019s end, a move the company said will reduce costs and streamline engineering integration.<\/p>\n While the aforementioned Canadian shipment of 18 Eletres sent from China on May 7 is small, it is nonetheless strategically significant.<\/p>\n It follows Canadian Prime Minister Mark Carney\u2019s January agreement to allow up to 49,000 Chinese-built EVs per year into Canada at a 6.1% rate, a deal struck partly to repair ties with Beijing after Canada imposed 100% tariffs on EVs, following the US.<\/p>\n But with a new trade deal in hand, Lotus is looking to expand in Canada, where EVs are still popular.<\/p>\n \u201cSo leveraging our existing dealer network and North American market access certification, which we completed back in 2024, Lotus has secured a first-mover advantage up to now,\u201d Wang said of the Canadian entry. \u201cSo we expect that strong sales growth there in Canada.\u201d<\/p>\n Perhaps a trade deal during President Trump\u2019s visit to China might make the Eletre more attractive in the US too, where Wang said the Eletre remains the only Chinese-made electric vehicle priced above $80,000 that has been fully certified for the US market.<\/p>\n On the nonelectrified front, the Emira, Lotus\u2019s mid-engine combustion sports car, is also confirmed to continue, with an updated, lighter, and more powerful version set to debut in the coming weeks.<\/p>\n Pras Subramanian is Lead Auto Reporter for Yahoo Finance. You can follow him on X<\/a> and on Instagram<\/a>.<\/p>\n Click here for the latest technology news that will impact the stock market<\/a><\/p>\n Read the latest financial and business news from Yahoo Finance<\/a><\/p>\n People view the Lotus ForMe plug-in hybrid during the 2026 Beijing International Automotive Exhibition on April 24, 2026, in Beijing, China. (VCG\/VCG via Getty Images) \u00b7 VCG via Getty Images <\/p>\n
A teaser image of the upcoming V8 hybrid-powered Lotus, codenamed Type 135. \u00b7 Lotus <\/p>\n
The Lotus Emira, Lotus Emeya, and Lotus Eletre are on display at the AutoSalon on Jan. 10, 2025, in Brussels, Belgium. (Sjoerd van der Wal\/Getty Images) \u00b7 Sjoerd van der Wal via Getty Images <\/p>\n