According to Autocar UK magazine, the marquee are working on the pure-electric hypercar which it is believed would be built in strictly limited numbers.
Chinese carmakers Geely, who acquired a controlling stake in Lotus just over a year ago, are already developing high-performance EV tech, and it is believed the company could leverage this technology to enter the hypercar game.
Although the details on the project are still vague, the Lotus electric hypercar woud – if rumours are correct – be the fastest, most expensive and most radical car built by the company in its 70-year history.
The project is thought to have been codenamed Omega and a concept might debut next year, although a production version would still take at least a couple of years.
The multi-million-dollar price-tag would put it in the same league of hypercars as the Bugatti Chiron and electric hypercars like the upcoming Pininfarina PF0.
Geely are expected to pump as much as $2 billion into Lotus over the coming years, and the electric hypercar would form a major part of that plan.
Founder Colin Chapman built the first Lotus car in 1948.