Geely-owned luxury carmaker Lotus apologizes following price cuts in China · TechNode

TechNode

Center

Factuality

Ownership

Geely-owned luxury carmaker Lotus apologizes following price cuts in China · TechNode

A senior executive at Lotus Technology, the electric vehicle arm of British sports car brand Lotus, apologized Tuesday for the company’s failure to fully inform customers about a significant price cut across its lineup, making it the latest automaker to adopt aggressive pricing in China. Lotus introduced new models with a wider price range and a lower entry price in an effort to be more competitive and attract more customers, according to a lett…