Lotus is exploring the option of manufacturing its new plug-in hybrid SUV in the United States following a sharp decline in sales of its Chinese-made electric vehicles. The move comes after the US imposed a 100% tariff on these imports, significantly impacting Lotus's market performance.
According to KrASIA, Lotus's global deliveries dropped 46% last year, falling to 6,520 vehicles largely due to a collapse in the US market driven by the tariff. The company is owned by Geely Holding Group, which may be weighing this strategic shift to mitigate tariff effects and regain competitiveness in the US.
For Japanese investors and market participants, this development highlights the growing complexity of global supply chains and tariff policies affecting automotive manufacturers, especially those targeting the US EV and hybrid vehicle markets.