British sportscar maker Lotus plans China sales expansion to take on Porsche ...Middle East

British sportscar maker Lotus plans to open up to 70 showrooms in China by 2024 and start production at its new Wuhan factory next year to ramp up competition with rival Porsche, Chief Executive Feng Qingfeng told Reuters on Tuesday. Premium and luxury car sales are growing in China as coronavirus pandemic travel restrictions leave consumers in the world's biggest car market with more money to spend.

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