Lotus will launch a full-electric SUV next year as that will be a rival in size to the Tesla Model X, it will be the first of four new electric models from the automaker in the next five years.

The SUV, codenamed Type 132, will be followed by a large electric sedan in 2023 and a midsize electric SUV in 2025. A previously announced sports car developed with Renault's Alpine brand will arrive in 2026.

The new models will be built in a new factory in Wuhan, China that is ramping up to build 150,000 vehicles a year. Lotus will continue to build sports cars at its Hethel plant in Norfolk, England.

Lotus is expanding its lineup beyond niche sports cars under its new Chinese owners, Geely Holding Group, which bought a majority stake in the company in 2017. Geely also has Volvo and Polestar vehicle brands.

The company has said it has been looking at Porsche's mix of SUVs and sports cars as its inspiration to create a viable business, says Europe Automotive News.