Financial Data and Key Metrics Changes - In Q2 2025, the company delivered over 1,400 vehicles, a decrease of 49% year on year [7] - Total deliveries for the first half of the year exceeded 2,800 units, down by 43% compared to the same period last year [8] - Revenue narrowed to $126 million in Q2 and $218 million for the first half, down 44% and 45% year on year respectively [8] - Gross margin for Q2 stood at 5%, down four percentage points from the same quarter last year, while the first half gross margin was 8% [9] - Operating loss for Q2 was $160 million, a 22% improvement year on year, while net loss for the quarter was $130 million, down 36% [12] Business Line Data and Key Metrics Changes - Lifestyle vehicles accounted for 83% of total deliveries in Q2, up from 36% in Q1, contributing 68% of total deliveries in the first half [9] - Deliveries in China showed notable growth with the upgraded Eletras HyperXUVs becoming a leading model in the premium battery electric SUV segment [10] Market Data and Key Metrics Changes - Deliveries to North America were disrupted in Q2 due to tariff disputes but resumed in July [10] - The regional composition of deliveries was balanced with North America at 20%, Europe at 38%, ROW at 13%, and China at 29% [23] Company Strategy and Development Direction - The company is focusing on enhancing operational efficiency, having reduced operating expenses for seven consecutive quarters [12] - New funding arrangements include a security purchase agreement for up to $300 million and a master credit facility framework agreement with Geely [14] - The company is actively promoting its hyper hybrid technology, with the first vehicle equipped to launch in Q1 next year [31] Management Comments on Operating Environment and Future Outlook - Management acknowledged challenges posed by market volatility and policy uncertainties but highlighted key milestones achieved [12] - The company plans to phase out underperforming outlets in China while broadening urban coverage and customizing pricing strategies [22] - Future product launches include the Emera sports car facelift in 2027 and a new plug-in hybrid model expected to begin production by the end of this year [18][33] Other Important Information - Lotus Robotics, a subsidiary, is focused on AI and autonomous driving, with a strategic collaboration in the Middle East for robotaxi exploration [16][26] - The company is planning to equip services to another 10 different models, including passenger and commercial vehicles, over the next two to three years [25] Q&A Session Summary Question: Details about the company's product roadmap and future business outlook - Management discussed the promotion of hyper hybrid technology with the first vehicle launching in Q1 next year and emphasized global compliance for all products [31][32] Question: Explanation of the One Lotus strategy and expected synergies - Management explained the consolidation of Lotus UK and Lotus Tech, focusing on efficiency improvements and technology synergies, targeting to close the deal by the end of this year or Q1 next year [37][38]

Financial Data and Key Metrics Changes - In Q2 2025, the company delivered over 1,400 vehicles, a decrease of 49% year on year [8] - Total deliveries for the first half of the year exceeded 2,800 units, down by 43% compared to the same period last year [9] - Revenue narrowed to $126 million in Q2 and $218 million for the first half, down 44% and 45% year on year respectively [9] - Gross margin for Q2 stood at 5%, down four percentage points from the same quarter last year, while the first half gross margin was 8% [9][10] - Operating loss for Q2 was $160 million, a 22% improvement year on year, while net loss for the quarter was $130 million, down 36% [13] - First half operating loss was $263 million, a 40% year on year decrease, while net loss narrowed to $313 million, down by 32% [13] Business Line Data and Key Metrics Changes - Lifestyle vehicles accounted for 83% of total deliveries in Q2, up from 36% in Q1, contributing 68% of total deliveries in the first half [10] - Deliveries in China showed notable growth with the upgraded Eletras HyperXUVs becoming a leading model in the premium battery electric SUV segment [11] Market Data and Key Metrics Changes - Deliveries to North America were disrupted in Q2 due to tariff disputes but resumed in July [11] - The regional composition of deliveries was balanced with North America at 20%, Europe at 38%, ROW at 13%, and China at 29% [25] Company Strategy and Development Direction - The company has entered into a security purchase agreement for up to $300 million and secured funding commitments from strategic partner Geely [15] - The company is focusing on enhancing operational efficiency, having reduced operating expenses for seven consecutive quarters [13] - The product pipeline includes the rollout of the model year 2026 Emera sports car and plans for a plug-in hybrid vehicle production starting at the end of this year [19][22] Management Comments on Operating Environment and Future Outlook - Management highlighted the impact of U.S. tariff policies and ongoing destocking activities as challenges faced during the transition period [9] - The CEO emphasized the importance of strategic partnerships and localized market entry solutions to navigate market volatility and policy uncertainties [25][28] Other Important Information - The company is actively pursuing AI and autonomous driving technologies through its subsidiary, Lotus Robotics, and has entered into an MOU for collaboration in the Middle East [17][28] - The company plans to phase out underperforming outlets in China while broadening urban coverage [24] Q&A Session Summary Question: Could you share more details about the company's product roadmap and future business outlook? - Management discussed the promotion of hyper hybrid technology with the first vehicle launching in Q1 next year and emphasized global compliance for all products [33][34] Question: Could you explain the One Lotus strategy and the expected merger with Lotus UK? - Management explained the consolidation plan for efficiency improvements and technology synergies, targeting to close the deal by the end of this year or Q1 next year [39][41]

Financial Data and Key Metrics Changes - In Q2 2025, the company delivered over 1,400 vehicles, a decrease of 49% year on year [8] - Total deliveries for the first half of the year exceeded 2,800 units, down by 43% compared to the same period last year [9] - Revenue narrowed to $126 million in Q2 and $218 million for the first half, down 44% and 45% year on year respectively [9] - Gross margin for Q2 stood at 5%, down four percentage points from the same quarter last year, while the first half gross margin was 8% [9][10] - Operating loss for Q2 was $160 million, a 22% improvement year on year, while net loss for the quarter was $130 million, down 36% [13] - First half operating loss was $263 million, a 40% year on year decrease, and net loss narrowed to $313 million, down by 32% [13] Business Line Data and Key Metrics Changes - Lifestyle vehicles accounted for 83% of total deliveries in Q2, up from 36% in Q1, contributing 68% of total deliveries in the first half [10] - Deliveries in China showed notable growth with the upgraded Eletras HyperXUVs becoming a leading model in the premium battery electric SUV segment [11] Market Data and Key Metrics Changes - Deliveries to North America were disrupted in Q2 due to tariff disputes but resumed in July [11] - The regional share of deliveries was balanced with North America at 20%, Europe at 38%, ROW at 13%, and China at 29% [25] Company Strategy and Development Direction - The company has entered into a security purchase agreement for up to $300 million in convertible notes and secured funding commitments from strategic partner Geely [15] - The company is focusing on enhancing operational efficiency, having reduced operating expenses for seven consecutive quarters [13] - The product pipeline includes the rollout of the model year 2026 Emera sports car and plans for a plug-in hybrid vehicle by the end of this year [19][22] Management Comments on Operating Environment and Future Outlook - Management highlighted the impact of U.S. tariff policies and ongoing destocking activities as challenges faced during the transition period [9] - The CEO emphasized the importance of strategic partnerships and localized market entry solutions to navigate market volatility and policy uncertainties [25][28] Other Important Information - The company is actively pursuing AI and autonomous driving technologies through its subsidiary, Lotus Robotics, and has entered into a strategic collaboration in the Middle East [17][28] - The company plans to launch a new model, Vision X, in 2027 and is developing a hyper hybrid technology with a driving range of over 1,000 kilometers [20][22] Q&A Session Summary Question: Could you share more details about the company's product roadmap and future business outlook? - Management discussed the promotion of hyper hybrid technology with the first vehicle launching in Q1 next year and emphasized global compliance for all products [32][34] Question: Could you explain the One Lotus strategy and the expected merger with Lotus UK? - Management explained the consolidation plan for efficiency improvement and technology synergies, targeting to close the deal by the end of this year or Q1 next year [38][41]

Financial Data and Key Metrics Changes - In Q1 2025, the company delivered nearly 1,300 vehicles to distributors, down 42% year on year, while user vehicle deliveries exceeded 2,000 units, up by more than 10% year on year [6][7] - Quarterly revenues narrowed to $93 million, but gross margin improved to 12%, recovering from negative territory in Q4 of the previous year [8][10] - Cost of revenue decreased by 43% year on year to $82 million, resulting in a gross profit of $11 million [9] - The operating loss for Q1 was $103 million, a 56% year on year decrease, while the net loss was $183 million, representing a 29% reduction [10] Business Line Data and Key Metrics Changes - Lifestyle vehicles accounted for 56% of total Q1 deliveries, consistent with full year 2024 figures [8] - The company is revamping its Electro HyperSUV and EMEA Hyper GT Landmap with upgraded configurations, with deliveries expected to begin in Europe in Q3 [7] Market Data and Key Metrics Changes - By region, Europe, China, and North America each contributed approximately one-third of total deliveries, with the rest of the world accounting for 4% [8] - Current regional share of deliveries since 2024 is 22% in North America, 38% in Europe, 14% for the rest of the world, and 26% for China [19] Company Strategy and Development Direction - The company emphasizes brand establishment, particularly in the sports car segment, and has launched a national level GT1 racing series to enhance brand awareness [11][12] - The company is focusing on developing hyper hybrid EV technology, which has gained significant interest and is expected to debut at the end of this year [13][15] - The strategy includes localization plans in the U.S. to mitigate the impact of tariff hikes [19][20] Management's Comments on Operating Environment and Future Outlook - Management noted that the PHEV market is growing rapidly in both China and the U.S., and the company is confident in the acceptance of its hyper hybrid technology [23][24] - The company aims to balance delivery distribution across markets, targeting 30% in the U.S., 30% in the EU, and 30% in China [18] Other Important Information - The company has successfully reduced operating expenses for six consecutive quarters through efficient enhancement plans [10] - The new hyper hybrid model is expected to feature a range of 300 kilometers on electric power and over 1,000 kilometers combined driving range [17] Q&A Session Summary - No formal Q&A session was held, but management addressed questions regarding hyper hybrid initiatives and global market strategies [22] - Insights shared included the unique advantages of Lotus's PHEV technology, which combines ICE and electric motor benefits for performance and energy efficiency [23][24]

Financial Data and Key Metrics Changes - The company delivered nearly 1,300 vehicles to distributors, down 42% year on year [7] - User vehicle deliveries exceeded 2,000 units, up by more than 10% year on year [8] - Quarterly revenues narrowed to $93 million, with a gross margin recovery to 12% [9] - Cost of revenue decreased by 43% year on year to $82 million, resulting in a gross profit of $11 million [10] - Operating loss for Q1 was $103 million, a 56% year on year decrease, while net loss was $183 million, representing a 29% reduction [10] Business Line Data and Key Metrics Changes - Lifestyle vehicles accounted for 56% of total Q1 deliveries, consistent with full year 2024 figures [9] - The company is revamping its Electro HyperSUV and EMEA Hyper GT Landmap with upgraded configurations, with deliveries expected to start in Q2 [8] Market Data and Key Metrics Changes - Deliveries were approximately one-third from Europe, China, and North America, with the rest of the world accounting for 4% [9] - Current regional share of deliveries since 2024: 22% in North America, 38% in Europe, 14% for the rest of the world, and 26% for China [22] Company Strategy and Development Direction - The company emphasizes brand establishment, particularly in the sports car segment, and launched a national level GT1 racing series [13][14] - The focus is on performance and sustainable practices, with the introduction of hyper hybrid EV technology [15] - The company plans to leverage its PHEV and BEV products in the U.S. market while discussing localization plans to mitigate tariff impacts [21][23] Management Comments on Operating Environment and Future Outlook - Management noted the growing interest in PHEV technology, which combines ICE and electric motor advantages [26] - The company believes that its hyper hybrid technology can meet performance and energy-saving demands, particularly in markets with low BEV penetration [18][28] - Future plans include prioritizing hyper hybrid technology for both lifestyle and sports vehicles [29] Other Important Information - The company has successfully reduced operating expenses for six consecutive quarters [11] - The new performance-oriented hyper hybrid model is expected to debut at the end of this year, with deliveries starting in Q1 next year [20] Q&A Session Summary Question: What is the progress of the hyper hybrid initiatives and global market strategies? - Management highlighted the rapid growth of the PHEV market in China and the U.S., emphasizing the unique performance capabilities of their PHEV products [26] - The company is investigating the feasibility of a hyper hybrid sports car to cater to both ICE and electric vehicle enthusiasts [28]

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 the fourth quarter, over 4,500 vehicles were delivered, representing a 20% year-on-year increase [7] - Revenue for the fourth quarter narrowed by 12% year-on-year to $272 million, while full-year revenue increased by 36% year-on-year to $924 million [7] - The cost of revenues increased to $395 million for the full year and $300 million for the fourth quarter, resulting in a gross profit margin of 3% for the full year and 11% for the fourth quarter [11] - The company reported an operating loss of $736 million for the year and $189 million for the fourth quarter, with a net loss of $117 million for the full year and $441 million for the fourth quarter [11] Business Line Data and Key Metrics Changes - Lifestyle vehicles increased by 57% year-on-year, accounting for 57% of total deliveries [8] - The company has four models under delivery, including one SUV, one sedan, and two sports cars [13] - The intelligent driving business achieved a revenue of $22 million from external customers, indicating growth compared to the previous year [39] Market Data and Key Metrics Changes - Europe saw a year-on-year increase of approximately 180%, contributing nearly 40% of total deliveries [9] - North America, primarily the United States, experienced a 415% increase in deliveries, making up 21% of total deliveries [10] - The rest of the world represented 15% of total deliveries with nearly 90% year-on-year growth [10] Company Strategy and Development Direction - The company aims to enhance its international footprint, having entered more than 10 countries in the GCC region, Asia, and Oceania [13] - A focus on cost reduction and efficiency improvement has been maintained, with operating expenses reduced for five consecutive quarters [14] - The launch of the Theory One concept car emphasizes sustainable materials and design principles, setting a direction for future models [14] - The company plans to launch a PHEV model by the end of 2025 and aims to deliver a total of six models under its Vision 80 strategy [22] Management's Comments on Operating Environment and Future Outlook - Management acknowledged the challenges posed by global trade uncertainties and economic slowdown but highlighted the company's growth in vehicle deliveries [7] - The CEO noted that the company is exploring solutions for the U.S. market, particularly in light of high tariffs affecting lifestyle vehicles produced in China [48][79] - The management expressed confidence in improving gross margins in 2025 due to the launch of new models and better product cost structures [44][56] Other Important Information - The company has reclaimed proprietary rights to its iconic logo in China, ensuring consistency in branding [15] - A strategic partnership with Taosao Mobility was established to launch an intelligent mobility platform for robotaxi services [17] - The company is investigating a new V8 powertrain system to enhance vehicle performance [30] Q&A Session Summary Question: Plans for Emera model enhancements - The CEO acknowledged the suggestion for a lighter, higher horsepower Emera model and mentioned that the U.S. market is a priority for such developments [28][30] Question: ADAS revenue contribution and guidance - The CFO indicated improvements in ADAS revenue and mentioned ongoing efforts to secure new design wins [35][39] Question: Margin trajectory and tariff impacts - The CFO expressed optimism for improved margins in 2025, citing the end of stock clearing requirements and better product cost structures [44][48] Question: Factors behind gross profit decline in Q4 - The CFO attributed the decline to stock issues and tariff impacts, along with accounting policy changes affecting service revenue [52][54] Question: Cash burn rate and financing expectations - The CFO confirmed ongoing efforts to address cash gaps through operations and financing, with no specific financing announcements expected in the near term [62] Question: Management capabilities and recent changes - The CEO highlighted the experience of the new management team, emphasizing their backgrounds in luxury brand management [66][68] Question: Impact of the put option on financials - The CFO clarified that the execution of the put option would be a non-cash deal, not directly affecting cash flow [75] Question: U.S. market strategy and sales targets - The CEO confirmed that the U.S. market remains a priority, with expectations for increased sales despite tariff challenges [79]