Transformed Legacy: Journey from Traditional Racing to Electric Vehicle Dominance
Lotus Tech Embraces Sustainability Beyond Electrification
Lotus Tech, a division of Lotus and a pioneering luxury BEV maker under the Vision80 strategy, is not only committed to electrifying its vehicles but also to supporting fleet sustainability in various ways.
The British company aligns with automotive industry trends, using recycled and bio-based materials in vehicle components. This shift towards bio-composites and recycled plastics reinforced with natural fibers like hemp makes vehicles more sustainable and lightweight, reducing reliance on virgin materials and lowering environmental impact in production.
Lotus Tech also incorporates circular economy principles, likely adopting closed-loop recycling systems for materials like seat foam and remanufactured components. This approach reduces waste and carbon emissions, reflecting emerging best practices widely adopted in the industry.
Energy-efficient production and resource use are also a priority for Lotus Tech. Industry practices such as the use of solar energy, water recycling, and AI-driven efficiency improvements at manufacturing sites are employed to minimize energy and water consumption during vehicle production.
Sustainable service delivery extends to operational services, indicating that Lotus Tech may implement sustainable procurement and facilities management as part of its broader sustainability strategy.
In addition to these initiatives, Lotus Tech is developing its own range of electric vehicle (EV) charging solutions as part of its commitment to becoming all-electric by 2028. These charging solutions, which are available today in China and expected to be rolled out in majority of European countries and the Middle East in Q2 2024, include solar-powered, grid-independent EV charging stations, demonstrating advancements in clean energy infrastructure supporting electrified fleets.
The energy provider for these charging solutions is an important consideration. Fleet managers and fleet suppliers should review the ESG report of preferred suppliers to ensure the most sustainable choices are being made.
Lotus' sustainability efforts extend beyond driving their cars to include the entire supply chain and production facilities. The company has established the Development of Sustainable Attributes for Complete Vehicles Management Procedure to identify the application of recycled materials and set carbon emission targets for the vehicle lifecycle.
The content in this article is mainly based on the Lotus Tech 2022 ESG report and previous external communications. Updates might be available when the new ESG report is released.
Daniel Dietrich, the Head of Fleet Sales Europe at Lotus, emphasizes the company's commitment to "Driving Change" in the luxury mobility industry. Lotus Tech embeds sustainability across the entire product value chain, including design, R&D, production, and utilization.
Support is encouraged for home-chargers over expensive fast chargers along highways. The charging option provided by employers, such as at work or home, should also be reviewed. A new ESG Video offers the most updated POV.
Lotus Tech combines over seven decades of British racing heritage, iconic brand value, and world-class research and development capabilities, making it a leader in the luxury BEV market. The company has set objectives to roll out all BEV products beginning in 2022, develop a 100% BEV product portfolio by 2027, and achieve carbon neutrality by 2038.
- Lotus Tech is not only electrifying its vehicles but also supports fleet sustainability financially by encouraging fleet managers to invest in home-chargers, a more cost-effective and sustainable option over expensive fast chargers on highways.
- In addition to sustainable vehicle development, Lotus Tech is involved in personal-finance and wealth-management by supporting investments in sustainable energy providers for EV charging solutions.
- As a pioneer in sustainable living, Lotus Tech uses data-and-cloud-computing to optimize energy-efficient production, minimizing waste and carbon emissions.
- Sustainable business practices are evident in Lotus Tech's home-and-garden department, where they use recycled and bio-based materials in the production of vehicle components.
- Collaborating with racing teams, Lotus Tech contributes to the sports and racing industry by promoting sustainable living through the use of advanced technology in their electric vehicles.
- Lotus Tech's wealth-management strategy includes wealth preservation via sustainable real-estate investments for resource-efficient manufacturing sites and operational facilities.
- By partnering with suppliers who prioritize ESG principles, Lotus Tech aligns with their commitment to sustainable living, showcasing their dedication to contouring the luxury BEV market with sustainable values.
