Lotus Technology announced on Tuesday its plan to launch the brand's first all-new supercar in 2028, while scaling back its pure electric vehicle development. The British sports car manufacturer, affected by slowing demand for electric vehicles and the phasing out of government subsidies, is shifting its strategic focus toward hybrid powertrains.

Previously, the automaker, which is part of Geely Group, had aimed to transition its entire lineup to pure electric by 2028. Under its updated long-term "Focus 2030" strategy, Lotus now plans for its model mix to consist of 60% hybrid vehicles and 40% pure electric vehicles.

This strategic pivot reflects a broader industry trend, as major automakers confront lower-than-expected market penetration for electric vehicles and the gradual withdrawal of policy subsidies in various countries.

Lotus revealed that its first all-new supercar, the Type 135, will be produced in Europe, with more detailed information to be released later this year. The company also stated that orders for its plug-in hybrid model, the Eletre X, targeted at China—the world's largest EV market—have surpassed 1,000 units. This model is also scheduled to begin deliveries in Europe by the end of the year.