Lotus is the latest automaker to fall for extended-range plug-in hybrids
Extended-range EVs are having their moment. And now Lotus is abandoning its strategy to become an all-electric brand by 2028 and shifting over to extended-range plug-in hybrid models starting in 2026. Here’s why.
Extended-range EVs, or EREVs, have become a siren call to automakers struggling to reach buyers with pure electric vehicles, serving as a sort of middle ground between kind of an electric car but also a plug-in hybrid, helping to break through to drivers still worried about getting stranded with no charge. So that, too, is where Lotus is going, with the Geely-owned UK brand saying that rolling out extended-range hybrids globally will help it reach its 2026 target of 30,000 sales. It’s a major departure from their earlier vision.
Lotus, has been mixing in some “lifestyle” EVs, including an SUV, to its sports-car lineup, but has struggled to meet its volume targets, Automotive News Europe reports. The problem Lotus says is that luxury buyers are reluctant to go full-electric.
Lotus says it sold 7,617 cars through September, including the Eletre SUV and Emeya large sedan, both all-electric vehicles – as well as it Emira sports car, once said to be the brand’s last ICE model.
Lotus also sells a full-electric hypercar, the Eveya.
But the company’s target of 12,000 sales this year is “definitely challenging,” Lotus CEO Feng Qingfeng said on the company’s third-quarter earnings call last week.
At the Guangzhou Motor Show in China, he said: “Luxury car engines are already very powerful, and the driving experience is quite similar, with eight-cylinder and 12-cylinder engines performing well,” according to the report.
Shifting to hybrids, the company hopes, will be the solution, with the brand eyeing the production of a “Super Hybrid” technology with ultra-fast plug-in charging. The electric motor will paired with a turbocharged combustion engine to extend the overall range to 680 miles (1,094 km).
Of course, an interesting motivator, too, is that hybrids are not affected by tariffs by the European Union on BEVs imported from China, with both the Eletre and Emeya built in China. In Europe, Geely’s BEVs are subject to a 28.8% duty under new EU tariff regulations, designed to counter what has been deemed as unfair government subsidies from China to its automakers.
Porsche has also announced that it will keep building ICE models across its model range to “meet customer demand,” shifting away from its all-electric plans.
Photos: courtesy of Lotus
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Environment
It seems like Elon Musk stoking a civil war in England isn’t good for Tesla’s sales there
Tesla’s EV registrations in the UK, its biggest market in Europe, took a dramatic hit in October 2025 — just 511 units — marking one of the brand’s weakest showings in recent memory. That’s a steep drop from 971 in October 2024 and 2,677 in October 2023. The tone of the market is shifting.
Maybe Tesla’s CEO stoking a civil war in England isn’t helping the automaker’s demand in the important market.
Tesla’s sales have been struggling in Europe over the past two years, and the decline has been accelerating in 2025.
While some believed that things were stabilizing for the American automaker in Europe, the October data tells a different story. Tesla had its worst month of deliveries of the year in 12 of its 15 biggest European markets.
As Tesla sales in Germany crashed over the last year, partly because Tesla CEO Elon Musk supported the far-right AfD party, the UK became Tesla’s biggest market in Europe.
But now it looks like the UK is going in the same direction.
According to registration data, Tesla delivered only 511 vehicles in the UK in October 2025. Tesla has over 50 stores in the country – that’s an average of roughly 10 vehicles per location for the whole month.
It’s the worst monthly performance since October 2022.
Much as Tesla’s demand crashed in Germany, Elon Musk’s politics might be behind the lower demand in the UK.
The CEO regularly comments on UK politics and often shares inflammatory reports about crimes perpetrated by immigrants. He also shares misleading crime and immigration statistics aimed at spreading hatred.
After he tweeted that “Civil war is inevitable. Just a question of when.”, he was accused of stoking a civil war in the country.
Musk’s public commentary on UK topics has sparked backlash and resulted in his “unfavorability rating” reaching 80% in the country.
Electrek’s Take
Meanwhile, Tesla’s demand cliff is opening the door to competitors. BYD is now expected to outsell Tesla in the whole year of 2025 in the UK despite Tesla having a presence in the market for much longer.
Not many industry watchers thought it would happen this fast.
Tesla appears to be completely missing out on the surge of EV sales in Europe due to a mix of having a stagnant EV lineup, brand problems brought on by a controversial CEO, and increased competition.
In the US, Musk is believed to have cost Tesla about 1 million sales over the last 3 years.
I think it will soon be approaching this number in Europe.
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Rondo Energy and energy producer EDP are installing a massive 100 MWh renewable-powered heat battery at HEINEKEN’s brewery in Lisbon, Portugal. The project will deliver round-the-clock renewable steam and reduce emissions without altering the facility’s beer brewing process.
Brewing HEINEKEN with zero-carbon steam
The Rondo Heat Battery (RHB) will be the biggest deployed in the beverage industry worldwide. It can store electricity as high-temperature heat using refractory bricks, then convert that heat into 24/7 steam, all without burning fossil fuels.
At HEINEKEN’s Central de Cervejas e Bebidas Brewery and Malting Plant, the heat battery system will supply 7 MW of steam, powered by renewable electricity from onsite solar and the grid. That steam is identical to steam created by gas-fired boilers, but without the carbon pollution.
EDP is providing the renewable electricity and will deliver the steam directly to HEINEKEN via a Heat-as-a-Service model. Rondo is supplying the battery, and HEINEKEN gets to ditch fossil fuels without retooling its brewing process.
Why this matters
This project is a big win for industrial decarbonization. High-temperature steam is one of the most complex parts of manufacturing to electrify, and the beer industry runs on it. HEINEKEN’s Lisbon site already uses solar panels for electricity and electric heat pumps for hot water, and this move helps it go even further.
It’s part of HEINEKEN’s “Brew a Better World” plan to hit net zero emissions by 2040 and decarbonize all of its global production sites by 2030.
Additionally, the deployment aligns with Portugal’s national target of reducing greenhouse gas emissions by 55% by 2030.
The bigger picture
With the European Investment Bank and Breakthrough Energy Catalyst backing this and other Rondo projects with €75 million in funding, this Lisbon installation is just the beginning. Rondo’s technology enables energy-hungry industries to switch from fossil fuels to renewable electricity without compromising 24/7 operations.
Rondo CEO Eric Trusiewicz sums it up: “We are thrilled to be installing our first Rondo Heat Battery in Iberia, and to support HEINEKEN to reach its goals. We look forward to helping industries across Iberia cut costs and carbon, and help Iberia capitalize on the opportunity.”
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Lucid Group (LCID) reported third-quarter earnings after the market closed on Wednesday, missing top and bottom-line estimates.
With 4,078 vehicles delivered in Q3, Lucid marked its seventh straight quarter with higher deliveries. Through the first nine months of 2025, Lucid delivered nearly 10,500 vehicles, more than the roughly 10,200 it handed over in 2024.
Although supply chain issues hampered production in the first half of the year, Lucid’s CEO Marc Winterhoff said the company made “significant progress ramping production of the Lucid Gravity through Q3,” including adding a second manufacturing shift at its Casa Grande, Arizona, plant.
Lucid produced 3,891 vehicles in Q3, missing estimates of around 5,600. With 9,966 EVs produced through the third quarter, Lucid will need to build over 8,000 more to meet its full-year production goal of 18,000 to 20,000.
According to estimates, Lucid is expected to report an adjusted quarterly loss of $2.27 per share on revenue of $352 million in Q3 2025.
Lucid Group Q3 2025 earnings breakdown
Lucid missed top and bottom-line estimates as it continues to address industry-wide supply chain issues that are hampering production of the Gravity SUV.
Although it missed estimates, Lucid reported Q3 revenue of $336.6 million, which is still up 68% from $200 million in the same period last year.
Lucid’s net loss narrowed to $978.4 million in the third quarter, or $3.31 per share, from $992.5 million, or $4.09 per share, in Q3 2024. On an adjusted basis, Lucid posted a loss of $2.65 per share.
In addition, Lucid said it agreed with Saudi Arabia’s Public Investment Fund (PIF) to increase the delayed draw term loan credit facility (DDTL) from $750 million to around $2 billion.
Given the increase, Lucid said total liquidity would have been around $5.5 billion at the end of Q3, up from the $4.2 billion it reported. Lucid ended the third quarter with $1.6 billion in cash and equivalents.
Lucid said liquidity is enough to fund it through the first half of 2027, up from the second half of 2026, as previously forecast. Lucid plans to launch production of its more affordable midsize platform in late 2026 with vehicles starting at around $50,000.
Lucid confirmed it was still on track to start production of the midsize platform later next year. However, given the supply chain issues, it now expects to hit the lower end of its production goal at around 18,000.
Winterhoff said the company “remains intensely focused on ramping up production and addressing the significant supply chain disruptions impacting the entire industry.”
Lucid is advancing other emerging tech, including autonomy and intelligent mobility. Through a new partnership with NVIDIA, Lucid aims to be among the first to offer Level 4 autonomous driving.
The third-quarter earnings miss comes after Rivian (RIVN) beat expectations this week, reporting higher revenue and improving gross margins.
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