Lotus Technology(US:LOT)2025-06-25 13:00Financial 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]