The race for car manufacturers to reveal fresh electric offerings continues apace, and Lotus has now entered the fray with the unveiling of the Eletre. And (whisper it), it’s an SUV. From Lotus.
The vehicle was introduced to the world in a suitably unrestrained fashion, with the car, hidden in a yellow cube, making its way up the River Thames in central London in a specially commissioned barge prior to the official launch.
Former Formula One racing driver Jenson Button then drove it onstage in an event viewed online by motoring enthusiasts across the world.
The Eletre is a distinct change in direction for Lotus, as the manufacturer’s modus operandi in days of yore was keeping cars as uncomplicated and featherweight as possible. The quote most associated with the brand came from its founder Colin Chapman, who said, in relation to how its cars were built: “Simplify, then add lightness.”
Changes in the manufacturer’s line-up are clearly afoot though, as China’s Geely Group bought a majority stake in the company in 2017, and the Eletre is the first in a line of products that are likely to be a step away from the brand’s traditional tearaway, sporty offerings.
Don’t be conned into thinking the Eletre is any slouch though. The very opposite, in fact.
It’ll hit 260 kilometres an hour on any road where the local authorities will allow it, and the 1 to 100kph time is 2.95 seconds. One supposes Chapman would have been happy with that.
It looks pretty fierce too. Mean-looking SUVs are not uncommon these days, but the Eletre looks like it could take its place in any suspects' line-up. We live in times now where cars with stylings that would have only been seen on never-available concept vehicles are now a reality, and this new Lotus is a prime example.
Aerodynamics come in the shape of a closing grille and a three-position rear spoiler.
There doesn’t seem anything too shabby about the interior either, with stitched leather and high-density wool fabrics being a feature, alongside a microfibre dashboard.
It’s safe to assume that the name Eletre sounding a little bit like electric has been done on purpose, but Lotus tells us that the name means "coming to life" in "some eastern European languages”. It all dovetails nicely, then.
The news comes just after Lotus announced a £100 million upgrade to its factory in Hethel, the site in the east of England that has been the manufacturer’s home since 1966.
This being the case, it seems that Lotus’s background as a niche manufacturer is at an end and it’s making a play for the big time.
If you fancy an Eletre, commentators are citing a starting price of about £115,000, though that is yet to be confirmed. The first cars will reach their new homes early in 2023.
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Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
More on animal trafficking
Ten tax points to be aware of in 2026
1. Domestic VAT refund amendments: request your refund within five years
If a business does not apply for the refund on time, they lose their credit.
2. E-invoicing in the UAE
Businesses should continue preparing for the implementation of e-invoicing in the UAE, with 2026 a preparation and transition period ahead of phased mandatory adoption.
3. More tax audits
Tax authorities are increasingly using data already available across multiple filings to identify audit risks.
4. More beneficial VAT and excise tax penalty regime
Tax disputes are expected to become more frequent and more structured, with clearer administrative objection and appeal processes. The UAE has adopted a new penalty regime for VAT and excise disputes, which now mirrors the penalty regime for corporate tax.
5. Greater emphasis on statutory audit
There is a greater need for the accuracy of financial statements. The International Financial Reporting Standards standards need to be strictly adhered to and, as a result, the quality of the audits will need to increase.
6. Further transfer pricing enforcement
Transfer pricing enforcement, which refers to the practice of establishing prices for internal transactions between related entities, is expected to broaden in scope. The UAE will shortly open the possibility to negotiate advance pricing agreements, or essentially rulings for transfer pricing purposes.
7. Limited time periods for audits
Recent amendments also introduce a default five-year limitation period for tax audits and assessments, subject to specific statutory exceptions. While the standard audit and assessment period is five years, this may be extended to up to 15 years in cases involving fraud or tax evasion.
8. Pillar 2 implementation
Many multinational groups will begin to feel the practical effect of the Domestic Minimum Top-Up Tax (DMTT), the UAE's implementation of the OECD’s global minimum tax under Pillar 2. While the rules apply for financial years starting on or after January 1, 2025, it is 2026 that marks the transition to an operational phase.
9. Reduced compliance obligations for imported goods and services
Businesses that apply the reverse-charge mechanism for VAT purposes in the UAE may benefit from reduced compliance obligations.
10. Substance and CbC reporting focus
Tax authorities are expected to continue strengthening the enforcement of economic substance and Country-by-Country (CbC) reporting frameworks. In the UAE, these regimes are increasingly being used as risk-assessment tools, providing tax authorities with a comprehensive view of multinational groups’ global footprints and enabling them to assess whether profits are aligned with real economic activity.
Contributed by Thomas Vanhee and Hend Rashwan, Aurifer
On the menu
First course
▶ Emirati sea bass tartare Yuzu and labneh mayo, avocado, green herbs, fermented tomato water
▶ The Tale of the Oyster Oyster tartare, Bahraini gum berry pickle
Second course
▶ Local mackerel Sourdough crouton, baharat oil, red radish, zaatar mayo
▶ One Flew Over the Cuckoo’s Nest Quail, smoked freekeh, cinnamon cocoa
Third course
▶ Bahraini bouillabaisse Venus clams, local prawns, fishfarm seabream, farro
▶ Lamb 2 ways Braised lamb, crispy lamb chop, bulgur, physalis
Dessert
▶ Lumi Black lemon ice cream, pistachio, pomegranate
▶ Black chocolate bar Dark chocolate, dates, caramel, camel milk ice cream
The specs
Engine: 2.0-litre 4-cyl turbo
Power: 201hp at 5,200rpm
Torque: 320Nm at 1,750-4,000rpm
Transmission: 6-speed auto
Fuel consumption: 8.7L/100km
Price: Dh133,900
On sale: now
The specs
Engine: 3.8-litre V6
Power: 295hp at 6,000rpm
Torque: 355Nm at 5,200rpm
Transmission: 8-speed auto
Fuel consumption: 10.7L/100km
Price: Dh179,999-plus
On sale: now
Labour dispute
The insured employee may still file an ILOE claim even if a labour dispute is ongoing post termination, but the insurer may suspend or reject payment, until the courts resolve the dispute, especially if the reason for termination is contested. The outcome of the labour court proceedings can directly affect eligibility.
- Abdullah Ishnaneh, Partner, BSA Law
