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]