Lotus Tech Seizes Canada’s New EV Tariff Break to Slash Prices by 50%
Lotus Technology Inc. has welcomed Canada’s new tariff policy on Chinese electric vehicles. The rules allow a limited number of imports at a lower tariff rate, opening opportunities for the company’s premium models. CEO Qingfeng Feng confirmed plans to expand investment in the country following the announcement.
The Canadian government’s updated policy sets an annual cap of 49,000 Chinese EVs at a reduced tariff of 6.1%. This move benefits Lotus Tech, which already has six authorised dealerships across Canada, providing full sales and service support.
Qingfeng Feng, the company’s CEO, has repeatedly highlighted the advantages of the policy in recent statements. In December 2025 and January 2026, he discussed partnerships with firms like ECARX and the impact of Canada’s tariff changes on Lotus Tech’s strategy. The policy is expected to cut the retail price of the Eletre, Lotus Tech’s all-electric hyper SUV, by around 50%. Currently the only Chinese-made EV priced above US$80,000 in North America, the Eletre stands to gain from more competitive pricing. The company anticipates a sharp rise in sales as a result. Lotus Tech’s existing market presence and distribution network position it to quickly capitalise on the policy shift. The firm has stressed its commitment to disciplined growth, aligning expansion with long-term value creation.
The lower tariffs will make Lotus Tech’s Eletre significantly more affordable in Canada. With dealerships already in place, the company expects a surge in demand for its high-end electric SUV. The policy change also reinforces plans for further investment in the Canadian market.
