Lotus gave a glimpse of a concept for its first full-electric vehicle, the Type 130 hypercar, which is part of a revival at the UK automaker that is funded by new parent Chinese automaker Geely.
The automaker issued a teaser pictures of the concept at the Shanghai auto show on Tuesday.
Lotus parent Geely has said it will begin manufacturing cars in China, working from a new, $1.3 billion factory in Wuhan. A Lotus spokesman declined to say when the factory would open but said the new vehicle would not be built there but in England.
Having come through a sporadic sales history and an ownership change in 2017 to the privately held Chinese automotive giant Geely, Lotus executives say the new electric vehicle marks a turning point for the 71-year-old brand and will be the first all-new car from the UK automaker in 11 years. If all goes as planned, the million-dollar Type 130 will serve as the halo car for a new generation of Lotus cars.
"It's a statement of intent: Electric is part of the strategy going forward," said Lotus CEO Phil Popham. "For Lotus, it has to be all about the driving experience--and electric will drive the value of every car we make."
Despite releasing scant details of the new car, and only a vague rendering, Lotus said the Type 130 is in "advanced stages of development."
A physical representation of the car will be revealed along with full specifications later this year in London, Popham said.
Production numbers are expected to be very low, though Popham said he has already received letters of intent from several eager buyers.
The news of the Type 130 came with the additional announcement of the Lotus Evora GT4 Concept, a track-only racer with a lightweight carbon body, a 450-hp V-6 engine, and a top speed of 270 kph (170 mph). Both cars are examples of a renewed push at Lotus--after a roughly £1.5 billion ($1.97 billion) investment from Geely--to gain relevance in the key U.S. and Chinese automotive markets.