The Lotus Eletre performance electric crossover is expected to cost 50% less in Canada after the latest reduction in tariffs, Lotus Technology shared. Canada announced a tariff reduction from 100% to 6.1% for 49,000 Chinese EVs on January 16.
Currently, the Lotus Eletre is the only Chinese-made electric vehicle that is being sold in North America with a price range above 80,000 USD. The only available trim level, called Carbon, currently costs 313,500 CAD (225,720 USD) in Canada. For clarity, the starting price in China is 548,000 yuan (78,635 USD).
High tariffs have made the Lotus Eletre one of the least attractive cars to buy in Canada, as it costs more than even the Lamborghini Urus, which starts at approximately 305,000 CAD (219,570 USD). However, the latest tariff reduction from 100% to 6.1% announced during Canadian Prime Minister Mark Carney’s visit to China on January 16.
Lotus Technology officially shared that this policy will allow reducing the recommended retail price of the Lotus Eletre in Canada by 50%. According to CarNewsChina’s calculation, this EV crossover will start at 156,750 CAD (112,850 USD). For clarity, the Porsche Cayenne GTS costs 134,800 CAD (97,050 USD) in Canada. Such a price reduction will noticeably boost Eletre’s competitiveness.
Lotus officials published an optimistic press release, stating that they anticipate an exponential growth in their sales volume in Canada. It is already operating 6 authorized dealerships in the country, offering both ICE and EV cars. Lotus Technology highlighted that the previously established homologation allows it to swiftly translate the policy benefits into the market share.
It is worth noting that Bloomberg shared that Chinese-made Tesla, Volvo, and Polestar cars will also benefit from the new policy. BYD and Nio’s Firefly are also exploring the possibilities of entering Canada. According to the Sino-Canadian agreement, over 50% of 49,000 Chinese EVs are allowed to enter Canada annually at a most-favored-nation tariff rate of 6.1% are expected to cost below 35,000 CAD (25,190 USD).
Briefly on Lotus Eletre
The Lotus Eletre electric crossover boasts dimensions of 5103/2019/1630 mm with a wheelbase of 3,019 mm. It has an active front grille, a floating split roof spoiler, an active rear spoiler, and retractable door handles. The Eletre has a downforce of 110 kg on the front part and 80 kg on the rear.
The interior of the Lotus Eletre adopts two 12.6-inch thin strip displays for the driver and the passenger. As for the main screen, it has a diameter of 15.1 inches. There is one more 9-inch screen for rear passengers.
The top-trim Lotus Eletre has three electric motors for 675 kW (905 hp). It is powered by a 112 kWh ternary NMC battery for 560 km of CLTC range. The Eletre speeds up to 100 km/h in 2.95 seconds. This year, the PHEV variant of the Lotus Eletre called “For Me” will enter China.
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