Lotus Spends $1.3 Billion on New Chinese Production Facility
Lotus is finally branching out of its agricultural location in Norfolk, England and setting up a production facility in China’s Hubei province. The Assembly plant in Hubei, Wuhan will become Lotus’s first foreign production facility. The existing facility in Norfolk will be retained and is scheduled to undergo major investment and upgrades.
The capital expenditure is being provided by Lotus’s new owners, Zhejiang Geely Holding Group, AKA Geely Automotive. The company also owns Volvo.
Geely is planning a major investment for Lotus with the aim of creating luxury sports cars and SUVs.
The production facility in Wuhan will be completed and ready within two years.
Geely estimate the Wuhan facility will have the capacity to manufacture up to 150,000 vehicles per year.
Lotus branded cars will be made alongside Geely’s existing brand of vehicles such as Link & CO and Volvo.
All future sports cars and SUVs will eventually have an electrified drivetrain. The future Lotus SUV will make use of Volvo’s SPA Architecture.