WUHAN, July 17 (Xinhua) -- British sports and racing car producer Lotus Cars has completed building its new factory in the Chinese city of Wuhan in central Hubei Province.

Covering an area of around 100 hectares, the factory is located in the Wuhan Economic and Technological Development Zone, one of China's automotive clusters. It has a total investment of 8 billion yuan (about 1.2 billion U.S. dollars), according to Chinese automaker Zhejiang Geely Holding Group, which bought Lotus Cars in 2017.

The new factory will produce three models of electric vehicles, with a designed annual capacity of 150,000 units, according to Geely.

The Wuhan Economic and Technological Development Zone is home to more than 10 automobile manufacturers and some 500 auto parts companies. It churns out nearly 1 million vehicles each year, with an annual industrial output of over 320 billion yuan.