2025年，吉利控股集团全球总销量4,116,321辆，同比增长26%，实现连续五年快速增长，年销首次突破 400万大关，创历史新高；其中新能源销量2,293,099辆，同比增长58%，新能源渗透率56%，成为集团 市场增长的主要驱动力，在全球车企中处于领先地位。 面对中国汽车产业格局调整与价值链重构的多重挑战，吉利始终坚定技术创新驱动电动智能化转型，构 建了涵盖纯电、超级混动、醇氢电动的多元立体新能源矩阵，为用户提供丰富选择。同时在汽车安全、 绿色发展、人机交互、辅助驾驶、低轨卫星等关键技术领域持续突破，推动汽车产业向高端化、智能化 与绿色化转型，形成聚力向上的全球发展势能。 量质齐升，新能源智能化转型纵深突破 吉利汽车控股有限公司2025年总销量3,024,567辆，超额完成年中上调后的300万辆年度销量目标，同比 增长39%，创历史新高。新能源增长迅猛，全年总销量1,687,767辆，同比增长90%。吉利银河品牌全年 销量124万辆，同比增长150%，超额完成"百万银河"销量目标；领克品牌全年销量35万辆，同比增长 23%，创历史新高；极氪品牌全年销量22.4万辆，12月单月交付突破3万辆，极氪9X成为 ...

Core Viewpoint - Lotus is committed to maintaining its focus on driving performance amidst a highly competitive and homogenized automotive market, emphasizing the importance of originality and innovation in the luxury sports car segment [1][2][12]. Group 1: Market Position and Strategy - Lotus has reintroduced its models EMEYA and ELETRE with new pricing, starting at over 500,000 yuan, while facing challenges in the Chinese market despite price increases in key markets like the US, UK, and Japan [1][2]. - The company is undergoing significant structural changes, including the integration of its UK and Chinese operations to enhance efficiency and reduce direct costs by at least 30% [2][3]. - Lotus is positioned as a global supercar brand with a 77-year history, supported by Geely, distinguishing itself from other luxury brands that are often backed by larger groups [2][3]. Group 2: Brand and Innovation - The brand has successfully reclaimed its trademark after a five-year legal battle, allowing for unified brand identity and management under Chinese leadership [5][12]. - Lotus emphasizes the need for continuous investment in technological innovation and brand building, rejecting the trend of producing "copycat" vehicles that lack sustainability [8][12]. - The company aims to produce vehicles that meet rigorous international standards, particularly in the US market, where compliance and testing processes are strictly enforced [10][12]. Group 3: Industry Challenges and Vision - The Chinese automotive market is characterized by rapid product turnover and a trend towards homogenization, which Lotus seeks to counteract by focusing on originality and the driving experience [8][12]. - Lotus acknowledges the intense competition in the automotive industry but remains committed to its principles of thorough testing and development, rejecting the notion of treating the market as an experimental ground [9][10]. - The company believes that the future of the Chinese automotive industry lies in creating original products that can earn global respect, rather than following trends of imitation [8][12].

Group 1 - The global ultra-luxury car market is experiencing a downturn, particularly in China, where brands like Bentley, Rolls-Royce, Ferrari, and Lamborghini have seen significant sales declines in the first five months of the year, with decreases of 20%, 23%, 14%, and 39% respectively [1] - The rise of domestic brands in China is providing more emotional value and features like smart technology, which poses a challenge to traditional ultra-luxury brands that lack deep emotional engagement with users [1] - Lotus Group's CEO emphasizes the need for ultra-luxury brands to maintain their core identity while investing in technological innovation and brand building, which are essential for long-term value [2] Group 2 - Lotus is launching new models, EMEYA and ELETRE, priced at 538,000 and 558,000 yuan respectively, focusing on enhancing driving experience through digital chassis and unique technologies [2] - The company aims to inspire more original innovation in the Chinese automotive industry, moving away from imitation and price competition [5] - Lotus is facing challenges in balancing electric, luxury, and high pricing, adjusting its model pricing from over 1 million yuan to around 800,000 to 900,000 yuan [5] Group 3 - Lotus is committed to maintaining its performance-first philosophy, focusing on driving control rather than merely adding comfort features [6] - The company adheres to a 4 to 5-year product development cycle, emphasizing thorough testing to avoid issues in the market, contrasting with competitors who shorten their development timelines [8] - There is a call for China to adopt process certification similar to that in Europe and the U.S. to ensure thorough testing and accountability in the automotive industry [8]

Core Viewpoint - Lotus Cars is successfully navigating the challenges of the luxury car market by focusing on original technology and a long-term strategy, achieving growth in sales and market share despite an overall market decline [1][6]. Group 1: Market Context - The luxury car market is experiencing a downturn, with many brands engaging in homogeneous competition characterized by configuration stacking and price wars [3]. - Lotus Cars is breaking this trend by emphasizing originality and returning to the essence of driving [3]. Group 2: Technological Innovation - Lotus Cars has integrated its racing heritage into new products, such as the EMEYA and ELETRE, featuring industry-leading technologies like the world's only pure electric production active dual-layer rear wing and the first active rear-wheel steering system in a pure electric SUV [5]. - The company has developed a digital intelligent control technology that balances handling and comfort, maximizing system efficiency [5]. Group 3: Financial Performance - In the first half of 2025, Lotus Cars delivered 2,813 vehicles and achieved total revenue of $218 million, with a 35% quarter-over-quarter revenue increase driven by accelerated deliveries of upgraded models [6]. - The company reported a 5% growth in sales in a market where luxury car sales have declined by 30%-40% [6]. Group 4: Market Position - Lotus Cars has seen a significant increase in its market share in the high-end pure electric SUV segment, with the ELETRE leading the market for SUVs priced above $550,000 [6]. - The company’s cash flow remains robust, supported by commitments of up to $500 million from institutional investors and strategic partners, ensuring funding for future R&D and market expansion [8].

Core Viewpoint - Lotus has secured a total funding commitment of up to $500 million (approximately 3.7 billion RMB) from international investment institutions and strategic partners, including a $300 million (approximately 2.15 billion RMB) convertible note agreement with ATW Partners and a $200 million (approximately 1.6 billion RMB) credit facility from Geely [1][4]. Group 1 - Lotus Cars, known for its high-performance sports cars, was founded in 1952 and has undergone a transformation into an electric vehicle brand since its acquisition by Geely in 2017 [4]. - The company aims to complete its transition to electrification and intelligence by 2028, coinciding with its 80th anniversary [4]. - Lotus has established a global market presence with sales regions in Europe, China, the Americas, the Middle East, and Asia-Pacific [4]. Group 2 - In early 2025, Lotus rebranded itself in the Chinese market as "Lotus Cars," and launched new models ELETRE and EMEYA with significant price reductions, which led to customer dissatisfaction [7]. - The company announced a change in leadership, with Mao Jingbo stepping down as China President to become Chief Sales Officer, while Qin Peiji took over the role [8]. - Despite being a renowned luxury sports car brand, Lotus has faced challenges with sales performance, reporting a 20.8% decline in sales in China for 2024, with total deliveries of 12,065 vehicles [9]. Group 3 - Lotus is currently in a loss-making position compared to competitors like Ferrari and Porsche, which have higher brand recognition and sales [11]. - The new funding from ATW Partners is seen as a vote of confidence in Lotus's ongoing business development and transformation efforts [11].

Core Insights - Lotus Cars is expanding its retail presence with the opening of new stores in six cities: Guangzhou, Chongqing, Wuhan, Huizhou, Shenyang, and Changsha, between July and August, marking a significant step in its channel expansion strategy [1][3] - The company aims to enhance its service capabilities in key markets across Northeast, South China, Central China, and Southwest regions, providing a high-end automotive experience to consumers [1][4] Expansion Strategy - The new store openings are part of Lotus Cars' plan to grow from 36 cities and 56 stores to 51 cities by mid-2026, demonstrating the company's commitment to market penetration and consumer service [1][3] - The new stores will create a comprehensive service network, transitioning from a "single-point breakthrough" to a "full-domain linkage" approach, ensuring rapid response to user needs through a denser terminal network [3][4] Regional Focus - The Guangzhou and Huizhou stores will form a dual-point in the Pearl River Delta, leveraging the high penetration of new energy vehicles in the Guangdong-Hong Kong-Macau Greater Bay Area to tap into local consumer potential and external demand from Guangzhou and Shenzhen [3][4] - The Shenyang store will serve as a strategic hub in Northeast China, connecting with the regional new energy vehicle market, while the Chongqing, Wuhan, and Changsha stores will focus on the central and western markets, targeting the growing demand for high-end new energy vehicles in these areas [4] Brand Philosophy - Lotus Cars continues to uphold its brand philosophy of "For the Drivers," emphasizing customer feedback and satisfaction, with the new stores showcasing key models like ELETRE and EMEYA, allowing customers to experience the brand's racing heritage [4]

Core Viewpoint - The automotive industry is witnessing a shift in the definition of performance cars, with electric vehicles easily achieving high horsepower but lacking in other performance metrics such as handling and braking [2] Group 1: Performance Cars - Lotus Group emphasizes the distinction between true performance cars and "pseudo-performance cars," highlighting that high horsepower alone does not qualify a vehicle as a performance car [2] - The company plans to launch a safety driving training camp to educate consumers on the true capabilities of performance cars [2] Group 2: Safety and Technology - Lotus advocates for high limits in vehicle handling as a key aspect of safety, stating that larger brake components and wider tires are essential for high-performance vehicles [5] - The company employs a dual redundancy approach in its sensor systems to enhance safety, ensuring that if one sensor fails, another can take over [6] Group 3: Market Performance - Lotus reported a delivery of over 12,000 vehicles in 2024, marking a year-on-year increase of over 70%, with Europe becoming the largest market [8] - The company is adjusting its market strategy due to tariffs affecting the U.S. market, focusing on growth in Europe and China while exploring new markets in the Middle East and Southeast Asia [8][9] Group 4: Open Source Initiative - At the 2025 Shanghai Auto Show, Lotus announced an open-source initiative for its chassis technology, sharing 77 years of accumulated data to foster innovation within the industry [10]