In 2020, legendary British sports car and motorsports powerhouse Lotus announced a controversial decision that broke the hearts of many loyal enthusiasts and fans worldwide.
In an interview with British car magazine AutoExpress, the automaker’s now-former CEO Phil Popham announced that its upcoming sports car (which would eventually be called the Emira) would be its last car powered by a gas-powered internal combustion engine. By 2028, it would offer a lineup of solely electric-powered vehicles.
💰💸 Don’t miss the move: SIGN UP for TheStreet’s FREE Daily newsletter 💰💸
“One thing we do believe in is the future of battery electric vehicles, and our intention is to offer BEV on our products in the future,” Popham said.
“BEV is really well suited to sports cars – the torque characteristics, the weight distribution, design and flexibility of dynamics. For me it all leads to BEV as the ultimate technology for sports cars.”
Although he promised that the future EV Lotus cars “will absolutely drive and handle like a Lotus,” this announcement angered and confused enthusiasts. On one Reddit thread about the Auto Express article on the r/cars subreddit when the article was published, car enthusiasts lambasted their decision.
“Ahh because lotus is known for great electrics,” one Reddit user commented.
“RIP Lotus,” another user said.
Lotus Emira V6 on display at Brussels Expo in Brussels, Belgium
Sjoerd van der Wal/Getty Images
The gas-powered Lotus is back (sort of.)
During Lotus’s Q3 2024 earnings call, its present-day CEO, Feng Qingfeng, confirmed earlier reports through a translator that the company is altering its now-former all-electric strategy to include extended-range electric vehicles (EREVs) that incorporate gas-powered engines.
Earlier this week, on November 20, a report from Autocar referenced remarks Feng made to the Wall Street Journal at the Guangzhou Motor Show. In them, he noted that Lotus is looking to make cars with a so-called “super hybrid” technology that combines fast-charging 900-volt EV tech with a turbocharged gas engine for a total range of 680 miles.
“At Lotus, we have always chosen the best power technology available, whether it’s pure gasoline, pure electric, hybrid or range-extended [EV],” Feng said.
However, speaking with analysts over the phone through a translator, Feng noted that their 900-volt ‘Hyper Hybrid EV’ technology is not like any other extended-range electric vehicle, as it can be powered exclusively by a gasoline engine whenever necessary.
Feng did not dive into specifics during the call but pitched Lotus’s Hyper Hybrids as cars that will not fail to provide drivers with a level of performance that only Lotus can provide. To make this possible, the Lotus CEO said the system relies on what he calls “dual hyper charging technology,” which enables ultra-fast EV battery charging when the car is plugged in at a charger and when the car is being driven.
Though EREV technology enables the vehicle’s onboard EV batteries to be charged by using the gas-powered engine as a generator, Feng says that the “dual hyper charging technology” will allow the engine to charge the battery at a rate “5 times the power consumption of typical driving,” providing “uninterrupted electric performance in any situation, including acceleration at high speeds and in extreme cold weather.”
In total, Lotus projects that future vehicles equipped with the new “Hyper Hybrid” EV tech would enable it to have a range of up to 690 miles.
More Business of EVs:
Bentley’s first foray into EVs will debut in 2026Trump’s EPA pick Lee Zeldin is the EV industry’s worst nightmareToyota exec slams “impossible” EV mandate amidst political chaos
The Chinese Connection
Since 2017, Lotus has been owned by Chinese automotive giant Geely (GELYF) , which also owns notable international brands like Swedish brand Volvo and its electric offshoot Polestar, former Mercedes city-car venture Smart, as well as London EV Company Limited, which was formerly known as the London Taxi Corporation.
Though China’s EV infrastructure is slightly more developed than that of the United States, and EV purchases have carried government subsidies until very recently, EREVs and plug-in hybrids have been gaining traction in the country as buyers are attracted to the range numbers that eclipse pure EVs.
For instance, BYD’s (BYDDY) luxury Yangwang U8 SUV’s attached gas engine has a total range of 620 miles, while Li Auto’s Li Auto L9 boasts a total range of 877 miles.
These accomplishments attracted the attention of American auto executives like Ford CEO Jim Farley to this kind of technology. In remarks at the Bernstein Annual Strategic Decisions Conference, Farley praised EREV technology, noting that it could be the “bridge” to get Americans onto EVs.
“EREVs in the U.S. could be 120 miles of all-electric, and they drive like EVs,” Farley said. “They don’t drive like combustion engine vehicles, so you get an EV, and you have 700 miles of range. You don’t have range anxiety for a long trip. You don’t have to rely on any charges. And those vehicles have half the batteries, so they’re very profitable.”
“It’s a good solution, that’s why it’s popular in China, that’s why it’s doubled its sales in China and we really like that solution.”
Ram 1500 Ramcharger
Stellantis
EREVs are already coming, just not from Lotus [yet]
Extended-range technology is already coming to vehicles that may soon hit U.S. streets.
In November 2023, Stellantis-owned (STLA) brand Ram Trucks revealed the Ram 1500 Ramcharger, an EREV with a range of up to 690 miles.
Though it is powered by two electric motors providing 663 horsepower to the wheels, under the hood is a 3.6-liter Pentastar V6 engine that is not mechanically connected to the car in any way, shape, or form.
Ram 1500 Ramcharger Drivetrain
Stellantis
Instead, it activates whenever it is needed, running quietly in the background to power a 130kW onboard generator that charges its onboard 92kW battery.
“There’s no connection between this generator assembly and the wheels, like one might find in even a plug in hybrid — all of the propulsion is electrical,” Ram Trucks chief engineer Doug Killian said in a statement. “And that’s really important to that story of this being an electric vehicle.”
However, a recent statement from Stellantis CEO Carlos Tavares revealed that the Ramcharger will be delayed for a formal launch in calendar year 2025.
“We don’t want to take risks. In terms of validation, it’s very important for Stellantis to demonstrate that we have all the capabilities and that we master the technology with a high level of durability, and that’s exactly what we are doing right now,” Tavares said.
“So, we don’t want to rush, and as we all know, it’s better to take a few weeks more to validate properly than to rush and then to make mistakes in terms of quality. That’s what we are doing now. We are validating, and we are managing the peak between the products that we have ahead of us.”
Related: Hyundai’s aggressive EV plan aims to be Toyota’s worst nightmare
However, Hyundai announced in September 2024 that it is incorporating EREVs into its future electric prospects, which include expanding its hybrid offerings.
In earlier statements to Korea JoongAng Daily, a Hyundai executive noted that its move to offer EREVs mitigates the effects of a slowdown in EV sales.
“Global automakers will enter a period of suffering for at least two to three years starting in the second half of this year,” a senior Hyundai Motor official told the Korean newspaper. “Hybrids and EREVs are our weapons to fight this battle.”
Hyundai expects these upcoming vehicles to provide an edge over EVs, with a range of 560 miles before refueling and charging.
It projects that it will sell over 80,000 EREVs in North America once they are equipped in select Hyundai and Genesis midsize SUVs when it begins mass production by the end of 2026 and begins sales in 2027.
Lotus Technology, the electric vehicle division of Lotus Cars, is traded on the NASDAQ under the ticker LOT.
Related: Veteran fund manager sees world of pain coming for stocks
