Lotus launches a brand new electric GT model as part of its mass expansion strategy

Lotus’ GT includes luxurious features that make long-distance driving more comfortable.

Lotus presented a fully electric grand tourer (GT) sports car in New York on Thursday, the next stage in the British automaker's plans to transition from a small, storied brand to a mass manufacturer with annual sales of 150,000 vehicles by 2028. The Emeya will go into production in 2024 at a factory in Wuhan, China, run by Geely, which owns Lotus alongside Malaysia's Etika Automotive.

According to Chief Commercial Officer Mike Johnstone, the GT should have a range of just under 400 miles and a price that is roughly equal to Lotus' Eletre SUV model, which began production this year and ranges in price from 90,000 pounds ($112,300) to 130,000 pounds. GT includes luxurious features that make long-distance driving more comfortable. The Emeya has a top speed of 155 miles per hour (250 kilometers per hour). It can add 93 miles of range in five minutes because to its fast-charging capability.

Lotus has generally produced 5,000 cars per year since its inception in 1948, but with funding from Geely and Etika, the business is planned a significant expansion. Lotus Technology, which includes Lotus Cars, is also set to go public this year through a combination with L Catterton Asia Acquisition Corp.