Financial Data and Key Metrics Changes - In 2024, the company delivered over 12,000 vehicles, reflecting a year-on-year increase of over 70% [7] - For Q4, over 4,500 vehicles were delivered, representing a 20% year-on-year increase [8] - Revenue for Q4 narrowed by 12% year-on-year to $272 million, while full-year revenue increased by 36% year-on-year to $924 million [9] - The cost of revenues increased to $895 million for the full year and $301 million for Q4, resulting in a gross profit margin of 3% for the full year and negative 11% for Q4 [13] Business Line Data and Key Metrics Changes - Lifestyle vehicles increased by 57% year-on-year, accounting for 57% of total deliveries [10] - The intelligent driving business saw significant accounting adjustments due to a change in booking policy, impacting revenue recognition [104] Market Data and Key Metrics Changes - Europe, the home of the Lotus brand, saw an annual increase of approximately 180%, contributing nearly 40% of total deliveries [11] - China contributed one-quarter of total deliveries, while North America surged by 15%, making up 21% of total deliveries [11] Company Strategy and Development Direction - The company aims for internationalization, having entered over 10 new countries in the GCC region, Asia, and Oceania [23] - A focus on sustainable materials and redefining luxury was highlighted with the launch of the concept car Zero One [24][25] - The company plans to enhance its product lineup with new models and upgrades, including a new electric car and a hyper-hybrid model [58][60] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the impact of global trade uncertainties and economic slowdown but emphasized remarkable growth in vehicle deliveries [9] - The company expects improved gross margins in 2025 due to better product cost structures and the launch of new models [92][107] - The U.S. market remains a priority, with plans to address tariff impacts and explore manufacturing solutions [145][147] Other Important Information - The company has received a put option notice from Geely to acquire 51% of Lotus UK, which is expected to be a non-cash transaction [46][50] - The management team has undergone changes, with a new CFO and sales manager for the Chinese market, both bringing extensive experience in luxury car sales [118][120] Q&A Session Summary Question: Plans for a lightweight Amira with enhanced features - Management acknowledged the suggestion and noted that the U.S. market is crucial for Amira, with nearly 50% of sales coming from there [67][68] Question: Contribution of ADAS revenue and guidance - The intelligent driving business is expected to align with industry benchmarks, with a margin of about 30% [110] Question: Factors behind the decline in gross profit in Q4 - The decline was attributed to stock clearing and accounting adjustments in the intelligent driving business [103][104] Question: Cash burn rate and financing expectations - The company is addressing cash gaps through operations and financing, with ongoing discussions with investors [115] Question: U.S. market strategy amid geopolitical tensions - Management emphasized the importance of the U.S. market and plans to explore solutions for lifestyle vehicle exports [145][146]

Core Viewpoint - Lotus Technology Inc. announced the exercise of a put option by Geely International, requiring the company to purchase 51% of Lotus Advance Technologies Sdn Bhd, enhancing its control over Lotus UK and consolidating its financial results [1][3]. Group 1: Acquisition Details - Geely exercised its put option on April 14, 2025, mandating Lotus Technology to acquire 51% of Lotus UK [1]. - The acquisition will be executed through a non-cash transaction based on a pre-agreed pricing method, expected to be completed by 2025, pending regulatory approvals [3]. - The acquisition aligns with the strategic goal of integrating all businesses under the Lotus brand, which is anticipated to strengthen brand equity and operational synergies [5]. Group 2: Financial Implications - The company will issue new shares valued at $10 per share as part of the acquisition consideration [5]. - Lotus UK is valued at 1.15 times its revenue plus cash minus debt, based on the audited financial report of 2024 [5]. Group 3: Operational Context - Lotus UK oversees the manufacturing of Lotus sportscars and hyper cars, as well as providing consultancy services to OEMs and Tier 1 suppliers globally [2]. - The put option agreements with Geely and Etika were contingent upon Lotus UK and its subsidiaries selling over 5,000 vehicles in 2024, a condition that has been satisfied as of December 31, 2024 [4].

NEW YORK, April 08, 2025 (GLOBE NEWSWIRE) -- Lotus Technology Inc. ("Lotus" or the "Company") (NASDAQ:LOT), a leading global intelligent and luxury mobility provider, today announced changes to its management team and board of directors. The board of directors of the company (the "Board") has approved the appointment of Mr. Daxue Wang as the Chief Financial Officer ("CFO") of the Company effective April 8, 2025. Mr. Wang is a seasoned executive across corporate and prominent financial institutions, most rec ...

NEW YORK, March 28, 2025 (GLOBE NEWSWIRE) -- Lotus Technology Inc. (“Lotus” or the “Company”) (Nasdaq: LOT), a leading global intelligent and luxury mobility provider, today announced that it will report its unaudited fourth quarter and full year 2024 financial results on April 22, 2025, before market opening in the United States. The Company’s management will host an earnings conference call at 8:00 AM U.S. Eastern Time on Tuesday, April 22, 2025 (14:00 Central European Time / 20:00 China Standard Time on ...

NEW YORK, March 13, 2025 (GLOBE NEWSWIRE) -- Lotus Technology Inc. (“Lotus” or the “Company”), a leading global intelligent and luxury mobility provider, announced Lotus Robotics, its intelligent driving arm, has established a strategic partnership with CaoCao Mobility, a prominent ride-hailing service provider in China. Lotus Robotics and CaoCao Mobility have launched an innovative intelligent mobility platform for robotaxis, representing a major breakthrough in intelligent mobility for the rail-hailing in ...

Company Performance - Lotus Technology Inc delivered 12,065 vehicles in 2024, marking a year-on-year increase of over 70%, the highest growth rate among leading luxury brands [1] - China accounted for approximately 25% of the company's total global deliveries in 2024 [1] Future Plans - The company aims to increase global deliveries by 20% in 2025, with China expected to contribute 25-28% of total deliveries [2] - Lotus successfully reclaimed proprietary rights to the LOTUS roundel, LOTUS word mark, and the Chinese character "莲花" in China, achieving global trademark consistency [2] Operational Details - The reported vehicle delivery numbers include invoiced deliveries and commissioned deliveries in the US market, derived from business unit reports [3] - The delivery numbers may slightly differ from those recorded in the company's financial accounting and reporting systems [3] Company Overview - Lotus Technology Inc operates across the UK, EU, and China, focusing on luxury lifestyle battery electric vehicles [4] - The company emphasizes world-class R&D in next-generation automobility technologies, including electrification and digitalization [4]

NEW YORK, Dec. 02, 2024 (GLOBE NEWSWIRE) -- Lotus Technology Inc. (“Lotus” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its vehicle delivery results for the first eleven months of 2024. The Company delivered 9,871 vehicles1 in the first eleven months of 2024. As a top seller British luxury brand2, Lotus continued its strong momentum in the European market, which contributed nearly 40% of total deliveries for the eleven months ended November 30, 2024. China, a ...

Over 7,600 vehicles delivered in the first nine months of 2024, a year-on-year increase of 136%Total revenue reached $653 million, more than doubled year-on-yearRevenue of intelligent driving business from customers other than Lotus surged to $11 million with a year-on-year growth of 450%Launched Hyper Hybrid EV technology that provides high-performance with a combined range of over 1,100 kilometers NEW YORK, Nov. 21, 2024 (GLOBE NEWSWIRE) -- Lotus Technology Inc. (“Lotus Tech” or the “Company”), a leading ...

NEW YORK, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Lotus Technology Inc. ("Lotus Tech" or the "Company") (Nasdaq: LOT), a leading global luxury electric vehicle maker, today announced that it will report its unaudited third quarter 2024 financial results on November 21, 2024, before market opening in the United States. The Company's management will host an earnings conference call at 7:00 AM U.S. Eastern Time on Thursday, November 21, 2024 (13:00 Central European Time / 20:00 China Standard Time on November 21, 20 ...

NEW YORK, Oct. 25, 2024 (GLOBE NEWSWIRE) -- Lotus Technology Inc. (“Lotus Tech” or “the Company”) (Nasdaq: LOT), a leading global intelligent and luxury mobility provider, has been bestowed with the Highly Commends honor at the Reuters Sustainability Awards 2024 in the Business Transformation category. The Reuters Sustainability Awards, now in its 14th year, stand as the world's premier awards celebrating leadership in sustainable business. With over 700 global entrants this year, 30 winners were selected a ...