Lotus is developing an all-electric hypercar under the codename Omega, according to a report by Autocar.
The brand, based in Hethel, Norfolk, is set to be the performance and technology standard bearer of its Chinese multinational majority owner Geely, which also owns Volvo, Polestar, Proton and Lynk & Co.
Autocar reports that a concept version will make its debut next year, with an intended launch in the early-2020s.
The projected £2m price tag would break new ground for the Lotus marque, which has largely stayed true to its sportscar roots from a pricing and market perspective.
More than 1,000bhp is being touted as one target for Omega, while the lightweighting philosophy long associated with Lotus will be evident throughout the car’s DNA.
Autocar also reports that Geely’s investment is expanding to the Hethel site itself, with planning permission submitted for a customer experience centre, heritage centre and museum.
The last time Lotus planned to step up from the world of lightweight sports cars came in 2010, when a 612bhp Esprit concept was showcased as part of an attempted reinvention of the brand at the hands of then-CEO Dany Bahar.
Financial issues led to the project’s demise in 2012, long before the new lease of life for the British firm that has come as a result of its Geely ownership.
Lotus wouldn’t confirm Autocar’s story, but it released a statement to the publication saying: “Lotus’s development team is exploring numerous engineering projects, across multiple vehicle sectors, using several propulsion systems. As part of the development process, these projects undergo continual and stringent valuation and only the best will reach production.”