Lotus Tech welcomes Canada’s reduced EV tariffs

Lotus Technology has welcomed Canada’s new tariff policy announced by Prime Minister Mark Carney, which reduces duties on Chinese-made electric vehicles (EVs) from 100% to 6.1%, with an annual cap of 49,000 vehicles entering the Canadian market. The company said the policy change is expected to result in an approximately 50% reduction to the planned retail price of its Eletre all-electric SUV in Canada, with Lotus Tech anticipating significant sales growth.

The Eletre is Lotus Tech’s first all-electric SUV and the only Chinese-made EV currently available in the North American market above the US$80,000 price segment. The company completed North American homologation for the model in 2024 and operates six authorised dealerships across Canada, offering both internal combustion engine models and EVs.

In a statement, Qingfeng Feng, Chief Executive of Lotus Tech, said: “Canada has always been a strategically vital market within Lotus’ global footprint, where auto consumers possess a high appreciation for performance and driving pleasure. Building upon our prior groundwork in the North American market, we will seize this opportunity to enhance investment in Canada.”

Source: Lotus Technology