Lotus Robotics Provides Intelligent Driving Solutions for Lynk&Co’s First All-electric Sedan
Rhea-AI Summary
Lotus Technology Inc. (Nasdaq: LOT), a global intelligent luxury mobility provider, announced that its subsidiary Lotus Robotics has provided intelligent driving solutions for Lynk&Co's first all-electric sedan, the Z10. This collaboration marks a significant milestone in commercializing Lotus Tech's advanced technology capabilities. The Z10 features Lotus Robotics' intelligent driving solutions, including highway and urban NOA.
Lotus Robotics, established as part of Lotus Tech's Vision80 strategy in 2018, has become a premier provider of comprehensive intelligent driving solutions. The company offers advanced software, cloud toolchains, integrated hardware and software development, and intelligent driving operation solutions. Lotus Tech aims to deliver luxury intelligent vehicles and cutting-edge technologies across global markets through its network of over 200 stores worldwide.
Positive
- Collaboration with Lynk&Co for their first all-electric sedan, demonstrating market demand for Lotus Tech's intelligent driving solutions
- Commercialization of advanced technology capabilities, potentially leading to new revenue streams
- Expansion of business portfolio with high-margin intelligent driving solutions
- Global presence with over 200 stores in prime locations worldwide
Negative
- None.
News Market Reaction 1 Alert
On the day this news was published, LOT gained 12.22%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, Aug. 15, 2024 (GLOBE NEWSWIRE) -- Lotus Technology Inc. (“Lotus Tech” or the “Company”) (Nasdaq: LOT), a leading global intelligent luxury mobility provider, today announced that its intelligent driving arm, Lotus Robotics, has provided intelligent driving solutions to Lynk&Co, a global leading automaker with operations across Europe and Asia. This collaboration marks a significant milestone in the commercialization of the Company’s advanced technology capabilities.
The Company celebrates the launch of Lynk&Co Z10, which is the first all-electric flagship sedan of the Lynk&Co brand. The model, inspired by “The Next Day” concept car, features intelligent driving solutions, including highway NOA and urban NOA, provided by Lotus Robotics. Reservations for Lynk&Co Z10 started on Aug 15, 2024.
Lotus Robotics, a subsidiary of Lotus Tech, is committed to develop advanced intelligent driving technologies to foster global industry growth. Lotus Robotics has established itself as a global premier provider of comprehensive intelligent driving solutions, including advanced intelligent driving platform software, cloud toolchains, integrated hardware and software development, and intelligent driving operation solutions.
Lotus’s research and development in intelligent driving commenced in 2018 with the commencement of the Company’s Vision80 strategy championed by Qingfeng Feng, the Company’s CEO. Lotus Tech has been dedicated to delivering luxury intelligent vehicles and cutting-edge technologies across global markets. All lifestyle (SUV and SEDAN) models are optional with best-in-class hardware that supports end-to-end intelligent driving solutions, to be delivered through our sales network of over 200 stores in prime locations around the world.
Alexious Lee, CFO of Lotus Tech, said: “It is in our DNA to drive innovation through creating new and more efficient technologies and sharing them with the broader automobile sector. We are delighted to collaborate with peers to capitalize on our commercial technology solutions and achieve a win-win scenario. Our broad range of technology offerings will strengthen our proposition for our customers, shareholders, and investors.”
As announced in September 2023, Lotus Robotics was designated to license several leading automakers to provide them with its intelligent driving technology and software. The Company expects that intelligent driving business will further diversify its business portfolio with a range of high-margin revenue streams, accelerating its rapid growth.
About Lotus Technology
Lotus Technology Inc. has operations across the UK, the EU and China. The Company is dedicated to delivering luxury lifestyle battery electric vehicles, with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation and more. For more information about Lotus Technology Inc., please visit www.group-lotus.com.
Forward-Looking Statements
This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. Forward-looking statements involve inherent risks and uncertainties, including those identified in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Lotus Tech undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Contact Information
For investor and media inquiries
Demi Zhang
ir@group-lotus.com
FAQ
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