Asian Tech Press (Feb 22) -- British sports car maker Lotus is reportedly considering an IPO in the U.K., the U.S. or China to fund its electrification push.

The company said Monday it is considering an initial public offering in 12-24 months to raise billions of dollars, according to AFP.

The IPO could happen in Hong Kong, London and New York, but the size has not yet been determined.

Like many other automakers, U.K.-based Lotus is switching from combustion engines to electric electrics, and deliveries of its last gasoline-only model, the Emira sports car, will begin later this year.

The company's all-electric product pipeline includes a sports sedan coming next year, a small SUV the year after, and a sports car in 2026, as Bloomberg said.

Chinese automaker Zhejiang Geely Holding Group. acquired a portion of Lotus Cars in 2017 and now owns 51% of the sports car maker.