Lotus responds to price cuts stabbing old owners in the back: The damage is not only to long-term users but also to brand perception

NightAirdropper · 2026-02-27T19:24:04+00:00

Lotus CEO Feng Qingfeng announced in an interview that Lotus will continue to focus on new energy and will add hybrid products to meet diverse lifestyle needs. He discussed the background of Geely's acquisition of Lotus and the controversy over the price reduction strategy, admitting that they failed to properly handle the feelings of old customers, emphasizing that the price cut affected the brand image, but at the same time, cost reductions helped to offset this.

NightAirdropper

2026-02-27 19:24:04

Abstract generation in progress

Tech Home February 26 News, “LatePost” published an interview with Lotus CEO Feng Qingfeng last night. Feng Qingfeng mentioned that Lotus’s commitment to the new energy direction remains unchanged, only adding new energy formats (Note: originally pure electric, later added hybrid products) to better adapt to more realistic and diverse living scenarios.

When discussing GAC’s acquisition of Lotus, Feng Qingfeng revealed that Lotus was previously owned by Malaysia’s state-owned company Proton, which also had its glorious periods. “When GAC invested in Proton, they also acquired Lotus as part of the deal.”

Regarding the price reduction of the EMEYA and ELETRE models from around 700,000 RMB to 500,000 RMB last year, Feng Qingfeng admitted that there was indeed opposition to this decision. “Old users felt betrayed, which is undeniable. The online public opinion was quite harsh. From several perspectives: first, market competition is like this, and we must adapt to changing competitive environments; second, our costs have decreased, and we hope new users can benefit from these changes. We did not make good arrangements for old users, which was a mistake. As a luxury brand, pricing is part of the brand image, and price cuts not only hurt the feelings of old users but also affect brand perception. This was a very deep lesson.”

At the same time, the profit margin of the vehicles after the price reduction will also experience some loss, but the decrease in costs has partially offset this. “Overall, our gross profit situation is still okay.”

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