Mike Johnstone, VP & CCO, Group Lotus: Company cars? Very interesting!

With the Eletre, Lotus is targeting completely new customers. Who are they, and where do they come from?

Johnstone (smiling): It’s true, with the Eletre we are addressing a completely new market segment in which we were previously not present. Surprisingly, many customers are actually Lotus drivers – this loyalty has really impressed us. But of course, we also have customers who previously drove German premium brands, including Porsche. And some who come from Tesla – generally, they all place a high value on sportiness and driving dynamics. What particularly pleases us: Eletre pre-order customers tend to be younger, and we have significantly more female customers than before!

What will be the main markets for the Eletre?

Johnstone: We are launching in eight EU markets plus the UK, and by the end of the year, we aim to be present in eleven European markets. Additionally, there’s China and from 2024 the USA. Internationally, it’s still the largest market for premium SUVs. And not to forget: the Arab states, prospectively also Oceania and South Korea.

South Korea? Really?

Johnstone (smiling): Indeed – what many do not know: South Korea is the second-largest market for SUVs in the E-segment.

How will sales be distributed?

Johnstone: Exact predictions are difficult at the current time, but roughly speaking: We will sell around 30 percent in China and the USA each, about 25 percent in Europe, and the remaining 15 percent in the Arab markets, Oceania, and South Korea.

And which are the core markets in Europe?

Johnstone: Clearly, we come from the UK – so the UK and Germany – because of their size and the share of high-end vehicles. Additionally, Scandinavia, because the charging infrastructure there is already very well developed.

The previous Lotus models were rather lightweight sports cars for private individuals. Are you also targeting fleets with the Eletre and future models (a sedan in the Taycan format and a more compact SUV in the D-segment, Ed.)?

Johnstone: Definitely – we have strong interest and high demand in the company car segment.

Are you planning special offers for this, such as all-in leasing or rental offers?

Johnstone: Of course, we need to develop special offers for fleets and company cars and are already evaluating several options – partly also in collaboration with our local partners to address the specific local conditions. What pleases us: Even now, the interest is very high, and our order books are well-filled.

“Well-filled” means until when?

Johnstone: Until 2024 – that will be the first full sales year.

How is the model mix distributed so far?

Johnstone: It depends on the individual countries and varies significantly. Basically, around 35 percent have ordered the R, 40 percent the S, and the remaining 25 percent the “base” model.

Are there typical R-markets?

Johnstone (laughs): Of course, the UK and the USA. In both markets, cars are highly emotional statements.

Could there one day be an Eletre with over 1,000 HP? With the "R", you are already quite close to this magical number and such a thing would certainly be comparatively easy to achieve electrically?

Johnstone (grins mischievously again): Of course there are customers who want something like this and if the technology regarding batteries and e-machines continues to develop, it would be feasible. However, I do not want to comment on specific projects in this direction.

How significant is Geely's influence on Lotus?

Johnstone: Geely made all of this possible in the first place – and since 2017 we have been able to take these huge steps together. But Lotus remains Lotus with British roots, even though we are internationalizing: The design of the Eletre comes from the UK, the engineering predominantly from our Lotus Tec Innovation Center in Raunheim, Germany, and production takes place in a brand-new plant in Wuhan, which has the capacity for 150,000 units annually. Our platform is entirely our own, but in terms of procurement, supply chain, or software, we of course benefit from the partnership with Geely.

How many markets does Lotus aim to cover with the Eletre in the long term?

Johnstone: We are already present in 45 markets, with which we achieve 95 percent coverage in the luxury segment. This is currently a consistent perspective.

With multiple products and higher production volumes, don’t you also need more presence and dealers?

Johnstone: We are also closely examining this and adjusting as needed. Indeed, we need and plan stronger coverage in some regions. But we always have to ensure that our partners can be profitable and that we can expand with them together. Yet the most important thing is always the best possible customer experience. This also includes offering test opportunities, if necessary, even at the customer's home. It is always important to be able to experience a Lotus – because the driving experience is our DNA!

the interview was conducted by Gregor Soller