AutoExec Summary
The Chinese electric vehicle industry’s growth could help Lotus rebrand as a luxury name, according to Lee Knappett, Lotus’ Australia head. Lotus, now owned by Chinese company Geely, has launched its new electric models, the Eletre SUV and Emeya sports sedan, in Australia. Knappett believes Lotus can succeed in the luxury market by scaling up to EVs and leveraging its Chinese connections. He sees Geely’s ties to China’s government-supported car industry as crucial for Lotus’ growth. Geely, which also owns Polestar, Volvo, and others, has moved Lotus production to China. The Chinese market has seen a major shift towards electric cars, with over eight million new registrations in 2023.
Brands mentioned: Lotus, BMW, Mercedes-Benz, Geely, Polestar, Zeekr, Volvo, Lynk & Co, Smart, Proton
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