Lotus Technology extends ‘warm welcome’ to Canada’s new tariff policy

Lotus Technology (LOT) has “expressed significant attention and a warm welcome” to the new tariff policy announced by the Canadian government. Prime Minister Mark Carney announced that Canada will allow an initial annual cap of 49,000 Chinese electric vehicles into the Canadian market under a preferential tariff rate of 6.1%. Qingfeng Feng, Chief Executive Officer of Lotus Tech, commented: “Canada has always been a strategically vital market within Lotus’ global footprint, where auto consumers possess a high appreciation for performance and driving pleasure. We extend our warm welcome to the new, optimized tariff policy, which creates a more open and fair market environment for international auto brands. Building upon our prior groundwork in the North American market, we will seize this opportunity to enhance investment in Canada to explore any potential tactical advantages and strengthen our footprint in the North American market. We are committed to pursuing growth in a disciplined manner that aligns with market development and creates sustainable value.”