Lotus is the first Chinese automaker to secure a 6.1% tax incentive for its Eletre EV in Canada, slashing prices by up to 50%. Discover the details and future plans now.
London‑based sports car maker Lotus has announced a historic milestone: it will become the first Chinese‑origin electric‑vehicle (EV) manufacturer to benefit from Canada’s new Most‑Favoured‑Nation (MFN) tax regime. The move could slash the price of its flagship Eletre SUV by as much as 50 %.
Why the tax break matters
Under the revised Canada‑China automotive agreement, Lotus will pay a reduced duty of 6.1 % instead of the previous 100 % tariff. The reduction follows Canadian Prime Minister Mark Carney’s official visit to China in January, which secured a quota of 49,000 Chinese‑built EVs per year into the Canadian market.
CEO Feng Qingfeng on the opportunity
“The Canadian market is too valuable to ignore,” said Lotus CEO Feng Qingfeng in a media briefing. He added that sales in North America could offset the recent slowdown in the Middle East caused by regional conflicts.
Eletre: From concept to showroom
The all‑electric super‑SUV Eletre, slated for production at Lotus’s Wuhan plant, will hit Canadian dealerships as early as 2024. With the lower duty, Lotus expects to price the model competitively, making it attractive to eco‑conscious buyers seeking performance and range.
Introducing the Lotus For Me hybrid supercar
At the same time, Lotus unveiled its new Lotus Tuned Specification (LTS) platform and the first hybrid hypercar, dubbed “Lotus For Me.”strong> The vehicle combines a 2.0‑litre gasoline engine with an electric motor delivering a combined 952 hp. It accelerates from 0‑100 km/h in just 3.3 seconds, offers approximately 418 km of electric‑only range, and boasts a total driving capability of over 1,400 km on a single charge‑refuel cycle.
Lotus plans to launch the hybrid in China in late March 2025, with deliveries to Europe and North America expected by mid‑2026.
Dealership rollout in Canada
To support the influx of imported vehicles, Lotus has already secured six official dealers across Canada and aims to double that number to twelve by the end of the year. Rapid homologation—completing safety certification for the North American market—positions Lotus ahead of rivals such as BYD and Chery, which are still navigating import‑approval hurdles.
What’s next for Chinese EVs in North America?
Lotus’s early entry and favorable tax treatment could set a precedent for other Chinese manufacturers eyeing the continent. As the quota fills, automakers will race to meet compliance standards, while Canadian consumers stand to benefit from a broader selection of high‑performance, affordable electric vehicles.
Stay tuned for updates on Lotus’s Canadian launch and the evolving landscape of Chinese EVs abroad.