Geely wants to flex its technological muscle, and what better way to do that than with a hypercar.

Lotus is planning to launch a £2 million ($3.53 million) pure-electric hypercar, according to new reports from Europe.

According to coverage from Autocar, the flagship will be built in incredibly limited numbers, and serve to demonstrate owner Geely’s technical prowess to the world.

Details are hard to come by, with the report arguing the hypercar project is “shrouded in secrecy” at Lotus HQ, but speculates the car will use a bespoke electric powertrain, and carries the codename Omega.

A price around £2million ($3.53 million) has been mooted, launching the brand into a price point it hasn’t come close to touching in past. Then again, it’s expected to give the McLaren P1, LaFerrari and Porsche 918 a nudge on the performance front.

If it’s compete with those cars, along with the latest crop of pure-electric supercars from NIO and Rimac, it’ll need around 1000kW and a sophisticated all-wheel drive system.

Pictured: 2010 Lotus Esprit concept

It certainly represents a huge departure from the brand’s current model range, which has recently expanded with a huge array of limited-run special editions based on the Elise, Evora and Exige.

Geely has thrown its considerable weight behind electrification, pushing the brands under its umbrella – Volvo, Polestar, Lynk&Co, London Electric Vehicle Company and Proton – in a heavily battery-powered direction of late.

The company is currently honing its high-performance electric technology on the Polestar 1. Whether that car, which weighs more than two tonnes despite a carbon-fibre construction, has much to offer the lightweight specialists at Lotus remains to be seen.

Expect to see a concept previewing the new electric hypercar at some point next year, ahead of an on-sale date in 2020.