Lotus Technology Announces Preliminary Delivery Results of 2024
Rhea-AI Summary
Lotus Technology reported its preliminary vehicle delivery results for 2024, achieving 12,065 deliveries, marking a significant year-over-year growth of over 70% - the highest growth rate among leading luxury brands. China represented approximately 25% of total global deliveries in 2024.
Looking ahead to 2025, Lotus aims to increase global deliveries by 20%, with China expected to contribute 25-28% of total deliveries. The company also announced the successful reclamation of its proprietary rights to the LOTUS roundel, LOTUS word mark, and the Chinese character of Lotus ("莲花") in China, establishing global trademark consistency.
Positive
- 70% year-over-year growth in vehicle deliveries, leading luxury brands
- Achieved 12,065 vehicle deliveries in 2024
- Successful reclamation of trademark rights in China
- Projected 20% delivery growth target for 2025
Negative
- China market contribution remains relatively low at 25% of total deliveries
News Market Reaction 1 Alert
On the day this news was published, LOT declined 2.45%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Lotus Technology Inc. (“Lotus” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its preliminary vehicle delivery results for the full year of 2024.
Lotus delivered 12,065 vehicles1 in 2024, representing a year-on-year increase of over
In 2025, the Company aims to increase global deliveries by
Note 1: Invoiced deliveries, including commissioned deliveries in the US market. The vehicle delivery numbers presented above are derived from reports submitted by our business units. These numbers may differ slightly from the vehicle delivery numbers recorded in the financial accounting and reporting systems announced or to be announced by the Company.
Note 2: Including Ferrari, Porsche, Aston Martin, Bentley, Rolls Royce, McLaren.
About Lotus Technology Inc.
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 under the heading “Risk Factors” 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 inquiries
ir@group-lotus.com
FAQ
How many vehicles did Lotus Technology (LOT) deliver in 2024?
What was Lotus Technology's (LOT) delivery growth rate in 2024?
What is Lotus Technology's (LOT) delivery growth target for 2025?
What percentage of Lotus Technology's (LOT) 2024 deliveries came from China?
What trademark rights did Lotus Technology (LOT) reclaim in China?
