If Lotus is right, the fast electric SUV could end up priced closer to a Porsche Cayenne GTS than a Lamborghini Urus
Lotus could slash Eletre prices in Canada by nearly 50 percent. Eletre currently costs more than a Lamborghini Urus SE in Canada . EV tariff deal lets some Chinese imports face lower 6.1 percent tax. The Lotus Eletre might soon become a far more accessible proposition in Canada , thanks to a new trade agreement with China that could take a wrecking ball to the electric SUV ’s bloated sticker price.
What is now priced well into super-luxury territory may soon fall within reach for a much broader group of buyers. Read: We Drove Lotus’ Electric SUV To See If It Can Silence Its Haters As in the United States, 100 percent tariffs have pushed the Eletre’s price in Canada into the stratosphere, starting at a jaw-tightening CA$313,500 . That puts it in the same league as a mid-spec Bentley Bentayga and even pricier than the Lamborghini Urus E. In the U.S., things aren’t much better, with a starting price of US$229,000 before delivery. Tariff Relief With the new policy in effect, the first 49,000 Chinese EVs imported into Canada each year will now face a reduced 6.1 percent tariff. Lotus claims this will cause the Eletre’s price to “fall sharply by about 50 percent.” However, it’s worth noting that under the terms of the agreement, half of those 49,000 vehicles are required to start below CA$35,000 , which the Eletre most definitely does not. Lotus announced the change on Chinese social media, although it stopped short of confirming a new starting price for the Eletre. If it does indeed drop by 50 percent, it could start from around CA$156,000 , significantly undercutting the Urus and positioning it closer to the Porsche Cayenne GTS, which starts at CA$134,800 . “Canada has always been an important market with great strategic significance in the global territory of Lotus sports cars,” Lotus Group chief executive Feng Qingfeng wrote in a social media posting. “Users here have a high appreciation for high performance and driving pleasure. We warmly welcome the new tariff optimization policy, which has created a more open and fair market environment for international car brands.” More: Canada Just Invited China’s Biggest EV Makers To Build Cars On America’s Border Lotus currently operates six dealerships across Canada and will no doubt be eager to ramp up sales of the Eletre. The flagship model features a pair of electric motors that combine to produce 905 hp, allowing a 0-100 km/h in a blistering 2.95 seconds and reach a 265 km/h top speed. It also has a quoted WLTP range of 280 miles. A Hybrid Eletre Is in the Works Too Lotus isn’t stopping with just the all-electric Eletre. A hybrid version is also in the works, offering an alternative path for buyers who aren’t quite ready to go fully electric. Official documents out of China confirm that this variant, called the Eletre For-Me, retains the SUV’s shape and layout but adds a turbocharged four-cylinder engine to the mix. Read: Lotus Dropped A Gas Engine Into The Eletre SUV It’s Lotus’s first step back from its earlier pledge to go EV-only, and while the full specs haven’t been disclosed, early reports point to a combined output of 952 hp, slightly more than the current top-spec Eletre R. We had a chance to review the all-electric Eletre last year and were pleasantly surprised. It’s quick, feels well-built, and has a beautiful interior that suits the category. Will those qualities be enough to convince Canadians to buy it if the price drops by half?
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