Lotus will wow the world with a new electric hypercar priced well over $2 million. The company is building it as a statement of intent under its new owner, Geely.

The new Lotus will be built in super-limited numbers. The company claims it will be the fastest, most expensive, and the most radical model it is developing in its 70-year history. The project is under a thick veil of secrecy at the company’s Norfolk headquarters. Autocar says that the project has been codenamed Omega and development is well underway. Lotus will reveal the concept version in 2019.

Further details are hard to get by, but Autocar confirms the new model will employ a bespoke all-electric drivetrain when it launches early in the next decade. The exorbitant price tag pushes Lotus into a rarefied segment where it has never ventured before. The firm has only recently started selling some variants of its model lineup for more than $120,000, like the Exige and 3-Eleven.

Lotus Omega Hypercar EV Dubai UAE
Lotus’s Hethel, Norfolk facility is where the hypercar is coming to life.

To justify the price tag, Lotus is looking at some hefty numbers for the Omega hypercar. A power figure north of 1,000hp is one of the targets, in addition to innovative, ground-breaking technology. All-wheel-drive through multiple electric motors will be a necessity to translate the Omega’s power and torque outputs efficiently to the road.

Lotus also has to keep in mind that the hyper-EV needs to deliver at least 400km of driving range which is the benchmark for modern electric cars. The only other hypercar that has the specs Lotus is targeting is the Chinese NIO EP9, boasting 1,360hp and 430km of range. The EP9 holds the Nürburgring lap record for production electric cars at 6:45.9.

Lotus declined to disclose finer details about the project but had this to say: “Lotus’s development team is exploring numerous engineering projects, across multiple vehicle sectors, using several propulsion systems. As part of the development process, these projects undergo continual and stringent valuation and only the best will reach production.”

Images Credit: Autocar