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Lotus chooses Santander for exclusive, multi-year financing agreement
Lotus, which recently unveiled its first electric hyper-GT Emeya in New York, reached an exclusive, multi-year agreement with Santander Consumer USA. Image courtesy of Lotus.
Santander Consumer USA landed another working relationship to provide financing services for an automaker.
On Wednesday, SCUSA said it will provide nationwide installment contract and lease options to Lotus customers and dealers through an exclusive, multi-year agreement.
The development arrived soon after Santander forged a similar arrangement with INEOS Automotive.
North America is a key market for Lotus. The company had more than 44 stores in its retail network as of June 30. The OEM plans to almost double its presence with 80 stores expected to be open by 2025.
Lotus recently unveiled its first electric hyper-GT Emeya in New York. The new car joins its electric hyper-SUV Eletre, as a flagship model in the Lotus lineup of luxury performance electric vehicles, which are part of its Vision80 strategy to become a global luxury technology brand by 2028.
Customer deliveries in the U.S. are expected to begin in Q3 2024 for Eletre, and Emeya will be available in early 2025.
And now the automaker has Santander ready to provide financing, if needed.
“We are thrilled to embark on this partnership with Santander Consumer to provide financing options to customers in one of our largest markets,” Lotus Cars chief financial officer Ben Dodds said. “Providing convenient options for our customers stays true to our brand promise to be ‘For the Drivers’, and we are excited to have them along with us on this journey as we deliver our new lineup.”
The move also builds on Santander’s existing auto financing relationship with Lotus across Europe.
“Our relationship with Lotus is a testament to our commitment to partnering with prestigious automotive companies, and providing superior experience for our dealers so they can offer financing to customers across the credit spectrum and drive sales,” said Betty Jotanovic, president of auto relationships at Santander Consumer. “We are thrilled to add Lotus to our portfolio of clients in the US and look forward to collaborating with their team and dealer body as they launch their new line-up in market.”
