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Lotus working on 1,000-horsepower EV?

The all-electric hypercar is expected to sell for $2.5 million.

Lotus is reportedly developing an all-electric vehicle that will be the brand's most powerful, fastest and highest-priced car yet.

Known by the codename 'Omega,' the hypercar is said to be powered by multiple electric motors with a combined output of more than 1,000 horsepower and all-wheel drive, according to Autocar.

The weight-obsessed company is said to be considering next-generation battery technology to avoid the penalty associated with large long-range battery packs. Other automakers have had little luck pursuing such 'breakthroughs,' however.

The original Tesla Roadster was built upon a Lotus Elise rolling chassis. The battery is mostly to blame for raising the curb weight by around 1,000 pounds compared to the gasoline-powered Elise, though the latest lithium-ion cells are more energy dense than those available a decade ago.

Perhaps the biggest shocker with the rumored Omega project is its expected price tag of $2.5 million, putting the automaker up against Ferrari and McLaren.

"Lotus's development team is exploring numerous engineering projects, across multiple vehicle sectors, using several propulsion systems," Lotus said in a statement. "As part of the development process, these projects undergo continual and stringent valuation and only the best will reach production."

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