Seemingly not wanting to be outdone by fellow British automaker Aston Martin, Lotus is now teasing its own new supercar. And by that, we mean the Norfolk-based sports-car maker has just released a single image hinting at the shape of it, combined with a short and cryptic press statement. There is no denying that Lotus is one of the grand old names in the world of sports cars, and this vehicle will be the first all-new car by the firm in about 11 years, with management obviously hoping to get a slice of the lucrative hypercar market that has been booming in recent times.

So, what do we know about this latest speed machine from the UK? For starters, it will be called the Type 130. Lotus claims that it will be the first all-electric hypercar from a British manufacturer. Company CEO Phil Popham brags that this is the “most dynamically accomplished Lotus” in the brand’s history, as well as “a showcase of what we are capable of and what is to come.” In the olden days, an announcement like this may have been received with a little bit of skepticism, seeing as boutique carmakers like Lotus often have big dreams but little budgets. This time, however, we might all be in for a treat.

There is no denying that Lotus is one of the grand old names in the world of sports cars, and this will be the first all-new car by the firm in 11 years

Remember that the Chinese car giant Geely Group purchased a 51% stake in Lotus Cars in 2017, and it has already been busy formulating long-term business plans and recruiting new talent such as Franco Cimatti. The name may not ring a bell, but the company where he worked before will. Cimatti spent over 30 years at Ferrari, where he was most recently heavily involved in the development of the LaFerrari in his role as vehicle concepts advanced research director. Add to that the vast research-and-development resources of Geely—plus the well-filled wallet the Chinese organization carries—and it is easy to see how Lotus might be on to a winner here.

The actual shape of the Type 130 (and more details) will be revealed in London later this year, which must mean an agonizing wait for the speed-loving millionaires of this world. The thing we are most curious about right now is how Lotus will incorporate its obsession with lightweight building processes into the world of EVs. “Simplify, then add lightness” was what Colin Chapman preached, so we are truly excited to see how his present-day brand will deliver on this mantra.