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Founded in 1948 in England, Lotus is a British automotive manufacturer that primarily makes racing and sports cars. The company is best known for the precise handling and light weight of its vehicles, making them a favorite in Formula One racing. Its official Formula One team, Team Lotus, has won the F1 World Championships seven times.
The first automobile that Lotus manufactured was the Lotus Mark 1, designed by Colin Chapman in 1948 while he was studying at the University of London. The body was built using composite aluminum bonded to plywood. Only one Mark 1 was made, though replicas have been built to simulate the exact dimensions, chassis, and running gear. Today, Lotus makes a small number of specially designed supercars. Its 2022 lineup only has two models: the Lotus Evija, a $2,100,000 fully electric dual motor vehicle capable of traveling over 200 mph, and the Lotus Emira V6, a $120,000 vehicle capable of reaching speeds up to 180 mph. Lotus sold 1710 cars worldwide in 2021, also marking its highest global sales in recent years.
Lotus recently broke ground on its new factory and global headquarters in Wuhan, China, and announced its plans to expand its EV offerings in the future. The company said it will add four more all-electric cars by 2026, starting this year with the recently revealed Type 132. Lotus intends to release the Type 133 in 2023, the Type 134 in 2025, and the Type 135 in 2026.