In a recent interview with media, the CEO of Lotus Group, Feng Qingfeng, announced that the brand Lotus will be returning to its original Chinese name, Lotus, in the near future. This decision is made in light of the strong association and positive image of the term Lotus in the Chinese market.
Backstory of the Brand’s Name Change
Previously, Lotus had changed its Chinese name to Roadster when entering the Chinese market. This change was necessitated by the fact that another company in the auto parts sector had already registered the name Lotus for its own use, without venturing into the whole vehicle manufacturing sector. Lotus had to work for over two years to reclaim the rights to use Lotus as its Chinese name, a decision that Feng Qingfeng believes will resonate well with Chinese consumers.
The Resonance of Lotus with Chinese Consumers
Feng Qingfeng emphasizes that the term Lotus carries a deep and positive impression among Chinese consumers. He further explains that while Roadster is a phonetic translation of Lotus, the term Lotus itself evokes stronger emotional connections and nostalgia among consumers. This sentiment is crucial for a luxury car brand like Lotus, which is renowned for its high-performance sports cars and racing vehicles.
Lotus’s Position in the Chinese Market
Lotus is a globally recognized brand in the realm of luxury sports cars and racing vehicles. In China, it has been known by various names, including Lotus Roadster. In 2017, the acquisition of the Lotus Group by Geely, in partnership with DRB-HICOM Group, a Malaysian conglomerate, brought Lotus under the umbrella of a major Chinese automotive company, thus solidifying its presence in the Chinese market.
Current Portfolio and Future Plans
Currently, Lotus is available in the Chinese market with two electric models, EMEYA and ELETRE, priced between 66.8 and 136.8 million yuan, and 72.8 to 123.88 million yuan respectively. These models are fully electric, aligning with the growing trend towards electric vehicles in China.
Feng Qingfeng also revealed that Lotus is set to unveil a new model by the end of next year, which is expected to significantly boost the company’s sales and financial performance. Furthermore, Lotus has reported that it has delivered a total of 4,873 vehicles in the first half of this year, highlighting its continued growth and presence in the Chinese market.
Conclusion
The return of the Lotus brand to its original Chinese name signifies a strategic move to leverage the strong brand equity and emotional connection it has with Chinese consumers. This decision not only honors the rich heritage of the brand but also aims to further strengthen its position in the luxury car segment in China, where electric vehicles are rapidly gaining popularity. Lotus’s future models, combined with its strong brand identity, are poised to make a significant impact in the Chinese automotive landscape.
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