How Lotus CEO Phil Popham is shaping the firm's future

Then, a couple of weeks ago, Lotus became the first important automotive player in the UK to stage an event intended to signal a return to normal(ish) life, choosing the Warwickshire driving enthusiasts’ haunt Caffeine & Machine, just off the Fosse Way, as a venue and bringing along a selection of its latest and best Lotus Elise, Lotus Exige and Lotus Evora models. Selected hacks drove the cars and enjoyed them but, on this occasion, it seemed more important for Autocar to hear the latest from Popham, notably about progress with Vision 80, the 10-year plan he drafted soon after his arrival that sets goals for where the company aims to be on its 80th birthday in 2028.

“At present, we’re running two businesses,” Popham explains. “There’s the long-term project that will transform us into a much bigger business at the end of the decade and there’s our current business. Vision 80 at present is about product development, finding the right people and setting up infrastructure for the long term – and because that’s currently funded from shareholder investment, it hasn’t been greatly affected by the Covid crisis. Staff have been working remotely and many will continue to do so.

“Our sports car business today is small in automotive terms but, until the crisis, it was growing steadily, helped by what we’ve done with the Evija. We’ve been getting more to front of mind with the media and potential customers. We’ve lately added new partners in 10 to 15 areas where we hadn’t represented, and we believe they’ll be around for the long term. And now we’re back to making sports cars again.”

Popham estimates that Lotus has lost 10 weeks’ sports car business – so 10 weeks’ revenue – but still reckons the firm can match last year’s sports car volume of around 1500 against an original sales goal that was supposed to get much closer to the 2021 target of 2000 units. More importantly than the bald numbers, Lotus will keep pushing to make all sales profitable for dealers so that they will be encouraged to invest in the people and premises needed in future, with everything leading to the all-important unveiling of what Lotus people will only call “the new car” at the end of next year, with customer deliveries in 2022.

The new core Lotus model is likely to come in both coupé and drophead forms and to use a bonded chassis of extruded aluminium sections, like today’s Lotus Evora (although designed for greater rigidity and better entry and exit, with the latter correctly identified as a buyer priority). Popham is determined to attract a new breed of customers who choose their Lotus for daily use – as Porsche buyers do – while retaining Lotus’s 1500 to 2000 annual sales to pure enthusiasts. No names have yet been mentioned for the new model, but both Esprit and Elan (but perhaps not Europa) would seem to be good candidates.

Popham says there will be versions of Lotus’s new car that can fit all of the company’s existing price ranges, depending on specification, starting at today’s £55,000 and reaching £110,000 for the best-equipped and fastest. Existing models will be phased out in the medium term but will overlap “for a while” as Lotus monitors and shapes demand for the new car. It’s not yet clear whether a four-cylinder version will be offered, but Lotus looks certain to use the Toyota-sourced, Hethel-supercharged 3.5-litre V6, presently good for up to 430bhp, from current models. Popham says Geely’s willingness to allow Lotus to use rival group engines is “surprising” but very welcome.

“The new car will be our last purely ICE-powered car,” says Popham, adding fuel to so-far-unconfirmed suggestions that sports cars beyond the new model will get another new-design aluminium platform. “All of our future cars will be specifically designed and engineered for electric offerings,” he adds. “It’s the future.”