Geely is planning to open a production facility for its line of Lotus sports cars in Wuhan City, Hubei Province. The British car maker received approval in December 2018 to set up a new plant in central China, with the goal to tap into the increasingly wealthy Chinese and Asian market.
Lotus vehicles are currently being produced in Norfolk England. The new manufacturing facility, reportedly worth CNY 9 billion ($1.3 billion), is expected to produce as many as 150,000 vehicles per year, although it has yet to be made official when it will begin operations, writes Reuters. It will be located at the Wuhan Development Zone and will be the site for the creation and assembly of electric hybrid cars, all-electric battery vehicles, and combustion engine cars, Lotuses included.
The expansion plans in China are related to Zhejian Geely Holding Group's move to revive the British car brand after it purchased a majority shareholding in the latter in 2017. Geely also owns significant stakes in Volvo Group and Mercedes Benz-owner Daimler.
The company is said to be bent on producing high-end, up-market vehicles, which will include both classic and new models. Some of its more notable models include the Elise, Evora, and Esprit, which was featured in the 1977 James Bond movie "The Spy Who Loved Me." The new manufacturing plant is believed to be poised to veer away from sports cars in favor of luxury SUVs.
According to the Financial Times, Lotus had been suffering income losses and low car sales volumes prior to Geely taking over. While the company has yet to exceed targets, the company said that its enhanced support of the Lotus brand is part of its global strategy. Geely reportedly sold 1,630 Lotus units worldwide in 2018.
The carmaker is said to be on the lookout for at least 20 engineers to join its Lotus Project facility in Wuhan. As of this writing, construction of the plant is expected to be finished by 2021.
