Transportation
Lotus Slashes Delivery Target Over Tariffs on Chinese EVs
- Electric-car brand now expects to ship fewer cars this year
- Geely listed the EV unit of the Lotus Elise maker in February
A Lotus supercar in a dealership in Hangzhou, China.
Photographer: Long Wei/Feature China/Future Publishing/Getty ImagesThis article is for subscribers only.
Lotus Technology Inc., the electric-car maker majority-owned by China’s Geely, has slashed its annual delivery target by more than half amid tariffs on Chinese-made EVs and weaker demand.
The company, which listed in February after being spun out as the EV arm of the British sports-car maker, said Wednesday it now expects to deliver 12,000 vehicles this year. It had previously been targeting 26,000.