Core Insights - Lotus Technology Inc. reported its unaudited financial results for Q3 and the first nine months of 2025, highlighting a challenging transitional period impacted by tariffs and inventory adjustments [1][2][3] Operating Highlights - Total deliveries for the first nine months of 2025 reached 4,612 units, a significant decrease of 40% compared to 7,673 units in the same period of 2024 [5] - Deliveries were primarily driven by China and Europe, with China outpacing the premium auto segment, indicating strong competitive positioning [3][6] - The gross margin improved to 8% in Q3 2025, up from 3% in Q3 2024, attributed to a higher share of upgraded models in total deliveries [3][15] Financial Performance - Total revenue for the first nine months of 2025 was $356 million, down 46% from $653 million in the same period of 2024 [9] - The net loss narrowed by approximately 68% in Q3 and 43% for the nine-month period, indicating improved financial health [8][13] - Key financial results for Q3 2025 included revenue of $137 million, a 46% decrease year-over-year, and a net loss of $65 million, a 68% reduction from the previous year [20][15] Model and Regional Deliveries - Deliveries by model type showed a decline in both Lifestyle SUVs and Sedans (down 18%) and Sportscars (down 64%) compared to the previous year [5] - Regional delivery breakdown indicated that China accounted for 46% of total deliveries, while Europe contributed 34% [6] Strategic Developments - The company plans to unveil a new PHEV model soon, which will enhance its electrification strategy and cater to diverse consumer demands [4][11] - The strategic acquisition of Lotus UK is progressing, expected to close in 2026, aimed at integrating operations and enhancing efficiency [6][11]