Summary:
- Lotus has had a rough time in the past few years with the global pandemic, but has taken a major gamble on the future of EVs
- Posting a $750 million USD loss in 2023, this was the price to pay to prepare new factories, production lines, and employees for a major push
- 2024 will see no less than three models, and a variety of trims, from the automaker, with plans to produce 150,000 cars annually by 2028
- Taking just the bare minimum average profit margin and a sales volume of 30,000 cars in 2024, Lotus could be looking at $240 million in profit
- We think that if they stick to their plan, can keep their sales volume up, and consistently price their EVs at competitive prices for the high-performance market, Lotus might just win this gamble
Lotus Cars has been around for just over 75 years so far, and throughout its history it’s had many ups and downs. It has also produced some of the best race cars for Formula 1 in the 20th century, and has made some of the most thrilling sports cars this side of a Porsche. This is down to the motto of Colin Chapman, the founder of the company: “Simplify, and add lightness.”
In recent years, they have steadfastly remained true to that motto, while also pushing the boundaries of technology and development. They were one of, if not the first company to announce an EV hypercar, the phenomenal Lotus Evija, and are on the track to become of the premiere EV sports car makers globally. Yet, in 2023, they posted a loss of just over $750 million USD… but somehow also posted record sales numbers.
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