At the ongoing Shanghai International Auto Show 2019, Lotus teased its Type 130, touted as the first all-electric British hypercar.

The company confirmed in its press statement that the Type 130 is now in advanced stages of development. Type 130 is Lotus' all-new product in more than a decade.

It is expected to be revealed later this year in London. Type 130 is estimated to carry a golden price tag of over USD 2.5 million.

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