Lotus is scaling back its pure electric plans and will launch a new supercar in 2028.

Lotus announced on Tuesday that they plan to launch their first brand new supercar in 2028 and will shrink their development of pure electric vehicles. The British sports car manufacturer is shifting towards a hybrid-focused development strategy due to slowing demand for electric vehicles and reduction in government subsidies. As part of their long-term plan called "2030 Focus Strategy," the company, which is owned by Geely Group, has adjusted the proportion of their model structure to have hybrid models account for 60% and pure electric models account for 40%, as opposed to their previous plan to achieve full electrification by 2028. This strategic adjustment reflects a broader trend in the automotive industry as major car companies are facing lower than expected market penetration of electric vehicles and gradual withdrawal of government subsidies. Lotus revealed that their new supercar, Type 135, will be produced in Europe and more detailed information will be announced later this year. The company also announced that their plug-in hybrid model Eletre X, targeting the largest electric car market in the world, China, has already received over 1000 orders, and they plan to start deliveries in the European market before the end of the year.