Introduction

Locally rooted, globally transcendent.

On March 12th, Lotus (formerly Lotus Cars) announced pivotal personnel shifts, with Qin Peiji, former COO of Polestar Technologies, succeeding Mao Jingbo as President of Lotus China, overseeing all Chinese market operations. Mao Jingbo, in turn, was appointed Chief Sales Officer of Lotus Technologies, steering the brand's global market expansion.

This shift underscores Geely's deep involvement in Lotus' management and showcases the brand's strategic realignment amidst an evolving era and competitive landscape, prioritizing electrification and global outreach.

People are a company's foremost asset. Senior-level personnel changes often signal shifts in corporate strategy and rationale. Over the past few years, Lotus has deepened its footprint in China, introduced multiple new products, and embarked on a new chapter of market expansion.

From Geely's acquisition of Lotus in 2017 to its official US stock market listing in 2024, and finally reclaiming the Lotus trademark rights in 2025, the brand's value has soared. As an ultra-luxury marque under Geely Holding Group, Lotus is a cornerstone of the group's strategic layout. Li Shufu, Chairman of Geely Holding Group, views supercars as the fourth commercial island chain beyond scale, luxury, and high-end, serving as a technical beacon for brand advancement.

Lotus represents Geely Holding's significant foray into the ultra-luxury sports car market. With its rich history and valuable assets, it adds unique market competitiveness to the group. Additionally, Lotus bears the mantle of international market expansion, effectively advancing the group's globalization strategy and serving as a pillar for its global development.

Since joining the Geely Holding system, Lotus has consistently received support and empowerment in resources, funds, technology, talent, and other areas, propelling this iconic global sports car brand towards a comprehensive revival in the new era, fueled by Chinese strength.

However, in recent years, Lotus has faced challenges such as brand marketing controversies, owner rights protection issues, and sales falling short of expectations. These issues highlight the hurdles faced by a global classic sports car brand transitioning to new energy intelligence and competing in China's dynamic market.

2025 is also a landmark year for Lotus, marking the 75th anniversary of the F1 Grand Prix, the 50th anniversary of the legendary Esprit, and the 40th anniversary of Ayrton Senna's Lotus championship victory. These profound historical narratives and precious brand experiences will empower Lotus' next developmental stride, endowing it with the strength to transcend time.

At such historic junctures, Lotus must embrace more transformative changes. Qin Peiji's arrival forms a partnership with Feng Qingfeng, the Lotus Group's helmsman, complementing Mao Jingbo's efforts in the domestic and global markets. This represents a new era of exploration for Lotus amidst fierce competition.

However, embarking from the Chinese market and reshaping a global ultra-luxury brand presents challenges. One is the persistent difficulty in brand recognition. Despite unifying the trademark from 'Lotus Cars' to 'Lotus', consumer perception of the brand's history remains fragmented. Reshaping Lotus' classic glory in the new era while balancing 'performance genes' with 'technological labels' in the electrification transition are core issues for Qin Peiji's team.

Another challenge is the pressure on Lotus Group's finances, stock prices, and profitability, testing strategic resilience. With limited resources, balancing channel investment in the Chinese market with global brand-building is a test of managerial acumen.

The third challenge is external competition and pressure. Xiaomi's SU7 Ultra, priced at 529,900 yuan with a 0-100km/h acceleration of 1.98 seconds, comprehensively surpasses Lotus EMEYA Fanhua. Its popularity and user base far exceed those of Lotus. Coupled with autonomous new energy brands like Yangwang and Zunjie targeting the high-end market, and Porsche's relentless efforts in the premium segment, Lotus must accelerate performance and intelligence breakthroughs.

Since officially reclaiming the Lotus trademark ownership after over 20 years of dispute at the end of last year, Lotus' brand reshaping journey has reached a new milestone. Following this major personnel adjustment, Lotus will undertake the dual tasks of 'brand reshaping' and 'sales breakthrough' in China, with Qin Peiji arriving with these responsibilities and missions.

As an exceptional executive meticulously nurtured by Geely Holding Group, Qin Peiji has served in the Geely system for over 15 years, holding various management positions at Volvo Cars, Geely Automobile, and Polestar Technologies, accumulating profound luxury brand management experience and industry insights. Notably, he has impressive experience and achievements in channel management, direct sales model exploration, brand tonality, and systematic marketing. Qin Peiji's arrival may bring more pragmatic sales network optimization, user operation strategies, and innovative approaches to brand reengineering to Lotus.

Simultaneously, Geely Holding and Lotus Group's promotion of this personnel change not only demonstrates the holding group's continued strategic support for Lotus but also infuses new vitality into the brand's next phase of development.

If Qin Peiji's appointment is aimed at revitalizing Lotus in China, then Mao Jingbo's transfer is a Lotus Group decision for the comprehensive revival of the global market.

"Lotus was born in the UK, aiming to leap globally and eventually become a global enterprise," stated Feng Qingfeng, CEO of Lotus Group. Lotus divides the global market into four marketing regions, ideally aiming for a 3331 proportion: 30% each for the US, Europe (including the UK), and China, with 10% for other countries and regions.

According to Lotus' 2024 third-quarter financial report, from January to September 2024, Lotus Group's total revenue was USD 653 million, a year-on-year increase of 105%, with a total delivery volume of 7,617 units, a year-on-year increase of 136%. Specifically, in the global market, Lotus delivered 2,683 units, 1,880 units, and 1,664 units in the European, Chinese, and North American markets, respectively, accounting for 35%, 25%, and 22% of total deliveries.

Evidently, overseas sales are the primary driver of Lotus' growth. European market deliveries surged 372% year-on-year in the first three quarters, and deliveries in other regions increased by 110% year-on-year. Its product line has already commenced deliveries in South Africa, India, Japan, South Korea, and the Philippines.

Therefore, Mao Jingbo's appointment as Chief Sales Officer of Lotus Technologies aligns well with her background in international luxury brands such as Mercedes-Benz and Lincoln.

Since initiating the 'Vision 80' brand revival plan in 2018, Lotus is now in the latter stages of reaping results. Considering its current performance in the Chinese and global markets, Lotus not only needs to establish a strong presence in the Chinese market but also urgently needs to break through in mature markets such as Europe and North America.

Mao Jingbo's international vision and high-end brand operation capabilities may help reverse the perception of Lotus as a 'niche sports car', fostering its penetration into the global high-end electric market and achieving higher-quality growth worldwide.

Ultimately, the finalization of personnel adjustments represents Lotus' reflection on the transformation challenges of the past three years, essentially a strategic recalibration by Geely in the high-end electric race, and a crucial step for the Geely system to deepen empowerment and promote the 'global export of local experience'.

Qin Peiji's 'stability' and Mao Jingbo's 'aggressiveness' form a dual strategy for deep cultivation in the Chinese market and global brand breakthrough. The 'internal and external linkage' between the two may redefine Lotus' growth logic: pragmatic focus in the Chinese market and high-profile expansion in the global market.

More importantly, this transformation is not only a test of a century-old brand's resilience but also an exemplary case for observing how Chinese capital reshapes the global luxury car landscape.

Responsible Editor: Cao Jiadong, Editor: He Zengrong