AutoBeta(AutoBeta.net)08/19 Report--

According to the latest media reports, Lutes' domestic project will be located in Wuhan, and the first domestic model will be named Lambda, or put into production at Geely's Wuhan factory in 2022. In addition to Lambda, Lutes will also make two pure electric models, Sigma and Alpha, respectively, in 2023 and 2024.

Lutes Lambda is the first SUV model under Lutes, and it is also the first domestic model in China, with 4900/2017/1625mm body length, width and height and wheelbase 2999mm. In terms of power, there will be three power forms: fuel, hybrid and pure electric, of which the fuel version is equipped with Volvo 2.0T engine, the pure electric version uses front and rear dual motors, the maximum power 550Kw, peak torque 710N ·m and 114N ·m, mainly compete with brilliance BMW X5, Mercedes-Benz GLE, Porsche Cayenne, Tesla Model X and other models.

Data show that Lotus, which was founded in 1952, was on a par with Lamborghini, Ferrari and other supercars, and was acquired by Malaysian automaker Proton Motor in 1996. In June 2011, Lotus officially entered the Chinese market and issued the official Chinese name "Lutes". In June 2017, Geely Holdings Group and Malaysia DRB-HICOM Group signed the final agreement. It became Geely's first sports car brand by acquiring a 49.9 per cent stake in its Proton car unit and a 51 per cent stake in luxury sports car brand Lutes. The acquisition of Lutes not only further expanded Geely's overseas territory and business, but also realized Li Shufu's dream of building a sports car.

According to the announcement of the Hubei Provincial Development and Reform Commission, Geely plans to invest a total of 9.044 billion yuan in the Wuhan factory, and the project is located on Weihu Road, Shamao Street, Hannan District, Wuhan City. Geely holding Group contributed 2.031 billion yuan, accounting for 71.06%, and the legal representative is an Conghui. Construction of Geely's Wuhan plant began in early 2019 and is expected to be completed by the end of 2021 with an annual production capacity of 150000 vehicles.

As Lutes, once as famous as Porsche and other supercar brands, as these brands accelerate their layout in the SUV market, Geely has long had a view on Lutes' entry into the SUV field.

As early as more than a decade ago, Geely launched a "civilian supercar"-Beauty Leopard, which carried Li Shufu's dream of making a supercar, but unfortunately was eventually forced to stop production for various reasons.

At present, Geely has an absolute advantage in its own brand, which gives it more strength to enter the high-end market. After Lutes is made in China, Geely will once again take up the weapon of supercar market. Li Shufu has said Geely wants to turn Lutes into a luxury brand that competes with Porsche and Ferrari.

Welcome to subscribe to the WeChat public account "Automotive Industry Focus" to get the first-hand insider information on the automotive industry and talk about things in the automotive circle. Welcome to break the news! WeChat ID autoWechat