Lotus Slashes 2028 Goal As Europe Battery Search Stalls
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Lotus Technology is struggling to find a battery partner in Europe, impacting its production goals. CEO Qingfeng Feng noted that the company is now targeting 30,000 cars annually by 2030, down from 150,000 by 2028. The search for a partner is complicated by EU tariffs on Chinese EVs and local manufacturing regulations. Lotus is also seeking UK government investment to manage high costs and may shift some production to the region, focusing on plug-in hybrids to recover share value amidst declining demand for luxury EVs.
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