On January 2, Lotus Cars proudly announced the official change of its global brand identity and Chinese name to "Lotus Sports Car."

Lotus Group CEO Feng Qingfeng elaborated, "For five years, 'Lotus' has been our moniker in China. Our decision to reclaim and revert to the 'Lotus' name stems from its profound significance as our most valuable asset. It empowers us to transcend cycles, overcome challenges, and earn the respect and recognition of the industry, users, and car enthusiasts alike. 'Lotus' serves as our guiding star, deeply rooted in our hearts. It represents our cherished brand icons—'Lotus Engineering' and the 'Lotus Racing Team.' Moreover, since 1950, our founders, Colin Chapman and Hazel Williams, have symbolized our logo with the petals of a lotus. The return of 'Lotus' carries not only historical weight but also signifies our aspirations for the 'new intelligent electric Lotus.'"

Source: Lotus Cars WeChat Official Account

Founded in 1948, Lotus Cars initially gained fame for its high-performance sports and racing cars. Amidst its glory days, however, the company faced financial struggles and was sold to various automakers, including General Motors, Toyota, and Opel, before being acquired by Malaysia's Proton Group in 1996.

In 2006, Youngman Automobile Group forged a comprehensive strategic partnership with Proton's British automotive technology and engineering arm, Lotus Engineering, and launched a new passenger car brand, Youngman Lotus. Unfortunately, due to poor management and other issues, Youngman Lotus ceased production after nine years, tarnishing its reputation with problems such as delayed car deliveries and debt evasion.

In June 2017, two years later, Geely Holding Group signed an agreement with Malaysia's DRB-HICOM Group to acquire a 49.9% stake in Proton Holdings, thereby gaining control of the Lotus Group.

Later that same year, in September, the Lotus board of directors was officially established, with Li Donghui, Executive Vice President and Chief Financial Officer of Geely Holding Group, serving as Chairman. Feng Qingfeng, Vice President and Chief Technology Officer of Geely Holding Group, and Yu Ning, Senior Advisor to the President of Geely Holding Group, also joined as board members.

On August 31, 2021, Lotus announced the establishment of Lotus Technology, with its global headquarters in Wuhan Economic and Technological Development Zone. The company aims to develop luxury electric vehicles (SUVs and four-door coupes) for the global market, alongside next-generation electrification, digitization, and other world-class automotive technologies. This marked the Lotus brand's emergence as a crucial component in Geely Holding Group's global strategy.

Currently, Lotus offers two pure electric models in China: the EMEYA Prosperity and the ELETRE, priced between 668,000-1,368,000 yuan and 728,000-1,238,800 yuan, respectively. From January to September 2024, total sales amounted to 7,617 units, achieving only 63.5% of the adjusted annual target (reduced from 26,000 to 12,000 units).

Feng Qingfeng previously hinted at the launch of a new car by the end of 2025, potentially boosting the company's sales and performance.