NIO Capital invests in Lotus Technology, which will settle in Wuhan.

On August 31st, at the establishment ceremony of Lotus Technology and the groundbreaking ceremony of its global headquarters, Cheng Yongwen, Deputy Secretary and Mayor of Wuhan Municipal Committee, Liu Ziqing, Member of Wuhan Municipal Committee and Secretary of the Wuhan Economic Development Zone, Li Shufu, Chairman of Geely Holding Group, and Feng Qingfeng, CEO of Lotus Group, officially launched Lotus Technology’s global headquarters construction. Clive Chapman, the son of Lotus founder Colin Chapman, sent his congratulations from the UK.

Background

The pace of the automotive industry’s move towards the electric era has far exceeded expectations. In June of this year, pure electric vehicle sales in the European market accounted for 10.7% of overall vehicle sales, with first and second tier cities in China also showing strong growth rates.

However, the market for ultra-luxury intelligent electric vehicles has only a few players, making it a completely blue ocean market for traditional auto companies. Since Geely Holding’s acquisition, Lotus has not only released the world’s most powerful and lightest pure electric supercar Evija in 2019, but recently also unveiled the swan song Emira for its fuel-powered sports cars. As of August 27th, blind orders for this Lotus’ internal combustion power finale have reached as high as 7,999 units, which can be seen as a good start for the new generation of Lotus.

3D digital twin, race-level intelligent driving, ultra-high-end pure electric intelligence – this is the new direction proposed by the world-renowned sports car brand and well-known F1 manufacturer with a 73-year history.

During this press conference, Lotus announced its independently developed ultra-high-end pure electric intelligent vehicle’s EPA edge evolutionary architecture, which is the first 800V three-electric system platform in China. In terms of intelligent driving, Lotus proposed the concept of “race-level intelligent driving” and ensured passenger safety by using a technology route that fused laser radar, ultra-high-definition cameras, and 4D millimeter-wave radar full-view perception.

“Race-level intelligent driving as the direction for intelligent driving is Lotus Technology’s firm plan for the next 10 years, and it is also the completely different technology path of Lotus intelligent driving from any other brand,” said Feng Qingfeng, CEO of Lotus Group, at the press conference.

Product planning

– In 2022, the Type 132 ultra-high-end pure electric SUV with intelligent features will be launched.

• In 2023, the Type 133 ultra-high-end pure electric intelligent four-door coupe will be launched.
• In 2025, the “pure electric intelligent new species” with the code name Type 134 will be launched.

Lotus UK’s pure electric hypercar EVIJA and the pure electric small sports car to be launched in 2026 will also join Lotus’s global pure electric product matrix.

Organizational Structure

As the core of Lotus Group’s “dual engine” strategy, Lotus UK will be responsible for the research and development, production and global sales management of pure electric hypercars and other racing car models, in coordination with Lotus Technology; Lotus Technology will integrate research and design institutions and global resources in China, Britain, and Germany, and will be responsible for the research and development and production of global ultra-high-end intelligent electric vehicles, empowering Lotus Group’s transformation towards electric and intelligent.

• Wuhan: Lotus Technology global headquarters, Lotus Wuhan Smart Factory;

• Hethel: Lotus UK headquarters, Lotus UK factory;

• Coventry: Lotus Technology styling center, responsible for vehicle design;

• Frankfurt: Lotus Technology Innovation Center (LTIC), responsible for new product development and innovative technology, mainly responsible for the introduction and implementation of international advanced design concepts and regulations in the European and American markets;

• Amsterdam: Lotus Technology European marketing headquarters, responsible for European market marketing and sales.

In terms of personnel,

• Tang Huifang, vice president of Lotus Technology and dean of the R&D center;

• Ding Hua, CDO of Lotus Technology;

• Li Bo, head of the intelligent driving business unit;

• Pan Jianwei, CTO of Lotus Intelligence Driving;

• Tan Xi, general manager of the manufacturing center of Wuhan Lotus Technology Co., Ltd.

Global Headquarters, Smart Factory, and Race Track Settle in Wuhan

The Lotus Technology global headquarters building is located in the Junshan New City of Wuhan Economic Development Zone, designed jointly by Japan’s Kume Design and China National Machinery Industry Corporation Design and Research Institute, fully considering the guidance of higher-level planning and regional urban design, using the advantage of river view to build a waterfront urban interface, showcasing the company’s image and the advanced urban appearance of the Economic Development Zone.

The first phase of the headquarters occupies 186 acres and is expected to be delivered by 2024. As the super engine of Lotus’s global industry, it also provides a high standard urban image for the region and promotes the development of the Economic Development Zone.

The factory covers an area of 1,526 acres, with a total investment of over 8 billion yuan. It started construction in 2020 and is planned to be completed and put into production in 2021, with an annual production capacity of 150,000 vehicles. The aforementioned 3D digital twin technology refers to a fully digitized factory built using the 3D models of the factory, equipment, and products combined with virtual sensors and PLC control systems. The digital factory and the offline factory can achieve complete mapping through interactive sensor signals and PLC programs, transferring offline work to online, improving the working environment, and reducing trial and error costs. On the other hand, it can also shorten the production line debugging cycle and the time for new product introduction. At the planning stage, the factory incorporates advanced concepts such as digitalization, intelligence, visualization, flexibility, and zero emissions, implementing lean management from factory construction to new product introduction to production and operation.

To meet the requirements of downstream inspection, intelligent driving, and customer experience, a globally renowned racetrack design company was invited to design a multi-functional race track that integrates racing, drifting, off-road driving, etc. The track is 2.93 kilometers long, with 16 turns, and the maximum speed can reach 260 km/h.

NIO Capital Enters the Game

NIO Capital, in which Li Bin, the founder of NIO, serves as one of the partners, has also signed an investment agreement with Lotus Technology. Li Bin himself appeared at the press conference and stated that Lotus Technology and NIO Capital will jointly explore global brand expansion and industrial cooperation space, promote the development of ultra-high-end pure electric intelligent sub-segment, provide ultimate product and service experience for high-end market users, and provide a model for the high-quality and sustainable development of the automobile industry.

🔗Source: Lotus Technology

This article is a translation by ChatGPT of a Chinese report from 42HOW. If you have any questions about it, please email bd@42how.com.