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Why Lotus thinks its luxury EV game plan will succeed globally

  Luxury sports car and EV maker Lotus completed its SPAC merger last week in the U.S. and its stock was publicly traded for the first time on Friday. It’s an interesting turn of events for the Geely-backed automaker now known as Lotus Tech given the uncertain EV market, but one that may prove an exception to the struggles of other pure-play EV makers. Trading under the ticker LOT on the Nasdaq, Lotus Tech will focus on the higher end of the EV market with its Eletre SUV and Emeya sedan, which will not only be offered in the US but also in Europe and, more importantly, China. “What is most important here is that we are definitely going to more markets at the same time through more models and through more stores,” said Lotus Tech CFO Alexious Lee to Yahoo Finance from the Nasdaq market site. By the end of the year Lotus will have four vehicles in production, three of them EVs. “These four models are currently available in Asia Pacific and part of it is also available in UK and EU,” Lee said. “We're having the new [Eletre] SUV model coming into the U.S. in the third quarter of this year, so different markets have different strategies and different product offerings and different conditions." Lotus is able to go to market in a number of territories due to the backing of its majority owner, Chinese auto giant Geely. But it also raised a considerable amount of money through its SPAC merger. Lotus Tech said it raised more than $880 million in pre-closing and PIPE financing commitments, with a targeted valuation on listing day of nearly $7 billion. Lotus Tech also had an interesting partner with its SPAC merging, combining with L Catterton Asia Acquisition Corp (LCAA), which is backed by French luxury conglomerate LVMH. Lotus Eletre in Solar Yellow View 11 Photos As Lotus targets the luxury segment with its vehicles — the Eletre and Emeya will be playing in the $80,000 to $150,000 ballpark — having a partner like LVMH, with its deep connections and insights into the luxury consumer, could be hugely beneficial. “Now what is more important here is Anish Melwani, who is the CEO for LVMH North America, will be on the board of Lotus Tech,” Lee said.

Lotus-based Radford Type 62-2 shows its retro-styled interior

England-based Radford introduced the Type 62-2, a limited-edition coupe with a heritage-laced design, earlier in 2021. But it didn't show us the interior. Now, Radford finally revealed what the car looks like inside, and it's a blend of retro styling cues and modern tech that enthusiasts will love. At first glance, the Type 62-2's cockpit looks like it's from a different era. The driver faces a meaty three-spoke steering wheel, the shift linkage is exposed, and there is a pair of Bremont instruments (one is a clock, the other is a stopwatch) positioned on the passenger-side of the dashboard. We could be describing a 1970s rally car. However, a closer inspection reveals features buyers expect from a car in 2021. Look behind the steering wheel (whose spokes are made with carbon fiber) and you'll spot a digital instrument cluster with a layout that can be configured by each buyer. You could, in theory, ask for the tachometer to be front and center, for example. Screens positioned on either side of the dashboard display the footage from the cameras that replace the exterior mirrors, and a phone dock that doubles as a wireless charger is hidden behind the build plate located on the center stack. Users can set their phone there to access navigation and music apps.  Radford Type 62-2 John Player Special View 5 Photos Buyers will have three basic trim levels to choose from: Classic, Gold Leaf, and John Player Special. Each one will receive a specific look inspired by liveries that Lotus race cars have used in the past, though buyers will be invited to configure their car exactly how they want it. What won't change is the engine: it's a supercharged, 3.5-liter V6 that found its way into the Type 62-2 from Toyota via the Lotus Emira. Bolted to either a six-speed manual transmission or a seven-speed dual-clutch automatic, it develops about 430 horsepower in the Classic model, around 500 in the Gold Leaf, and approximately 600 in the John Player Special thanks in part to a specific supercharger. Radford will build 62 units of the Type 62-2, and production is scheduled to start before the end of 2021. Deliveries will begin in early 2022. Pricing information hasn't been announced, but don't expect this rare British coupe built largely by hand to come with a bargain price. Check out the Autoblog Podcast #686 where we talk Porsche and Lotus: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

In hindsight, Musk wouldn't use Lotus for Tesla Roadster

The world will be a different place after Elon Musk builds a time traveling device (don't ask us how we know that will happen). For one thing, the Tesla Roadster of the rewritten future will not have been built using the chassis of the Lotus Elise. Also, verb tenses will be becoming even more confusing and, possibly, awkward. "We ended up changing most of the damn car" – Elon Musk We know about the not-using-the-Lotus thing because the Tesla Motors CEO said as much yesterday at the World Energy Innovation Forum at the Tesla Factory in Fremont. The two-day event, which also offers Model S test rides and a factory tour for attendees, featured a fireside chat with the electric automaker's CEO and Ira Ehrenpreis. During the discussion, Musk revealed that if he had to do it over again, he would have built the Roadster from the ground up instead of using the Lotus Elise chassis. "We ended up changing most of the damn car, so we thought later, why did we do that," he said. Another problem with the original idea for the car was the drivetrain. At first, Tesla had meant to use the motor and other propulsive bits from AC Propulsion, only to find that powertrain didn't work well in a commercial application. Instead Tesla only licensed the reductive charging patent, which allowed some integration of the inverter and charger. Besides knocking Tesla's own early efforts, the outspoken entrepreneur took a couple swings at other technologies with quotable quotes such as: "The internal combustion engine is a ridiculous thing!" and "Current lithium ion technology is better than theoretical fuel cell limits. So, game over. Why bother with fuel cells?" Looks like there are some things Musk is not interested in going back in time and changing.