当地时间8月29日，路特斯科技（LOT.US）披露了2025年半年度成绩单。 今年上半年，路特斯科技共交付新车2813辆，实现营收2.18亿美元。尽管仍处于亏损状态，但调整后息 税折旧摊销前利润（非GAAP）亏损同比收窄37%，至2.4亿美元；营业亏损也减少约40%，收窄至2.63 亿美元。 这份财报发布前一周，路特斯刚宣布获得5亿美元资金承诺——包括纽约投资机构ATW Partners的3亿美 元可转换票据，以及控股股东吉利控股提供的16亿元人民币非循环信贷额度。这笔钱将主要用于推进电 动化转型和全球业务扩张。 销量增长的背后是区域市场的持续分化。"随着第二季度中国升级车型的交付量激增，我们的季度收入 实现了35%的增长。"路特斯科技CFO王达学在财报会上表示。 从地区表现来看，今年上半年，中国市场以1403辆的交付成绩占据主导，欧洲与北美市场则分别交付 858辆和122辆。其中，升级版莲花ELETRE超跑SUV在第二季度成为中国高端纯电SUV细分市场中的领 军车型。 不过，路特斯科技也在财报中指出，北美市场受关税影响，第二季度出现交付中断，导致销量相对较 弱，该问题已于7月起逐步缓解，交付正在恢复。 面对 ...

Core Viewpoint - Lotus Technology reported a narrowing of losses in its financial results for the first half of 2025, despite still being in a loss position. The company aims to accelerate its electric transformation and global expansion with a recent $500 million funding commitment [1][10]. Financial Performance - In the first half of 2025, Lotus Technology delivered 2,813 vehicles, generating revenue of $218 million. The adjusted EBITDA loss decreased by 37% year-on-year to $240 million, while operating losses narrowed by approximately 40% to $263 million [1]. - The gross margin improved to 8.3% from 3% in 2024, contributing to the reduction in operating losses [4]. - Vehicle sales revenue reached $197 million, with an average selling price of $70,000, indicating a strong positioning in the high-end market [4]. Market Performance - The Chinese market led deliveries with 1,403 vehicles, while Europe and North America delivered 858 and 122 vehicles, respectively. The ELETRE super SUV became a leading model in China's high-end electric SUV segment [2]. - North American deliveries were impacted by tariffs, but the situation has been gradually improving since July [2]. Strategic Initiatives - Lotus Technology is advancing its "One Lotus" global strategy, including rebranding in China and plans to acquire the remaining shares of Lotus UK to integrate R&D and supply chain systems [2][12]. - The company aims to achieve full electrification by 2028, coinciding with its 80th anniversary [2]. Funding and Future Plans - The recent $500 million funding includes $300 million in convertible notes from ATW Partners and a credit line of 1.6 billion RMB from parent company Geely. This funding will support electric vehicle development and global market expansion [7][10]. - Lotus Technology's cash reserves stood at $67.85 million, providing a buffer for technology investments and market expansion [7]. Product Development - Lotus is accelerating its global product rollout, with the ELETRE and EMEYA models already being delivered in China and planned for Europe and the U.S. [14]. - The company has set a market strategy aiming for a sales ratio of 3:3:3:1 across the U.S., Europe, China, and other regions, with current performance showing a preliminary achievement of this goal [15].