Welcome to our dedicated page for Lotus Technology news (Ticker: LOT), a resource for investors and traders seeking the latest updates and insights on Lotus Technology stock.
Lotus Technology Inc. (LOT) maintains its leadership in luxury electric vehicles through continuous innovation in battery technology and intelligent mobility solutions. This page serves as the definitive source for official corporate announcements, financial disclosures, and strategic developments.
Investors and industry observers will find curated updates including quarterly results analysis, new product launch details, partnership announcements, and executive leadership changes. Our aggregation ensures efficient tracking of LOT's progress in electrification and global market expansion.
Key content categories include financial performance reports, BEV technology advancements, manufacturing updates, and strategic collaborations within the automotive sector. All materials are sourced directly from verified corporate communications to maintain accuracy and compliance.
For stakeholders monitoring LOT's position in the evolving EV landscape, we recommend bookmarking this page for real-time access to critical updates that impact market perception and investment decisions.
Lotus Technology reported strong growth in the first nine months of 2024, with vehicle deliveries reaching 7,617 units, up 136% year-over-year. Total revenue doubled to $653 million, while intelligent driving business revenue from external customers grew 450% to $11 million. The company expanded globally with significant growth in Europe (372% YoY) and launched new markets. However, gross margin declined to 9% from 11%, and operating loss increased 18% to $598 million. The company unveiled new Hyper Hybrid EV technology featuring a combined range of over 1,100 kilometers.
Lotus Technology (Nasdaq: LOT) announced that its subsidiary, Lotus Robotics, has secured contracts worth approximately US$130 million for its intelligent driving solutions. The company has partnered with leading auto conglomerates across Europe, Japan, and other markets, with over 40% of the total contract value coming from Europe and Rest of the World. Nearly 10 different vehicle models are expected to incorporate Lotus Robotics' driving solutions in the next 2-3 years. The contracts demonstrate global market recognition of Lotus's self-owned technologies and represent a significant driver for the company's long-term growth.
Lotus Technology announced its vehicle delivery results for the first ten months of 2024, delivering 8,631 vehicles. Europe and China were the major markets, contributing about 35% and 25% of total deliveries, respectively. In October, Lotus began an open beta test for its urban Navigate on Autopilot (NOA) in key cities, and launched certain OTA intelligent driving features in Europe. Lotus Robotics provides intelligent driving solutions globally, including to brands like Lynk&Co and Farizon Auto. The company was also awarded the Highly Commends honor at the Reuters Sustainability Awards 2024 in the Business Transformation category.
Lotus Technology (Nasdaq: LOT) has announced it will release its unaudited third quarter 2024 financial results on November 21, 2024, before the U.S. market opens. The luxury electric vehicle maker will host an earnings conference call at 7:00 AM U.S. Eastern Time on the same day. The call will be accessible via live audio webcast, with a replay available afterward on the company's investor relations website. Interested participants can join either through the webcast or by phone through provided registration links.
Lotus Technology (Nasdaq: LOT) has received the Highly Commends honor at the Reuters Sustainability Awards 2024 in the Business Transformation category. The company emerged as the only automotive industry winner among 700 global entrants, with 30 winners across 17 categories. The award recognizes Lotus Tech's commitment to sustainable business transformation since its Vision80 Strategy in 2018.
The company has successfully launched three electric vehicles: the Evija hypercar, Eletre SUV, and Emeya GT sedan. This recognition highlights Lotus Tech's comprehensive sustainability strategy, data-driven approach, and transparent disclosures in transforming into an intelligent and luxury mobility provider.
Lotus Technology Inc. reported strong vehicle delivery results for the first nine months of 2024, with 7,543 vehicles delivered, marking a 134% year-on-year increase. The company's global allocation remained well-distributed, with Europe, China, North America, and other regions each contributing 20-35% of total deliveries.
In Q3 2024, Lotus expanded its market reach, delivering the Emeya (GT, Sedan) to Europe and the Eletre (SUV) to GCC, Japan, and Korea. The company also introduced the Eletre Carbon, a high-performance variant for North America, priced at $229,900, with deliveries expected to start in H1 2025.
Lotus commenced deliveries of bespoke and collection versions of both Eletre and Emeya in Q3. Additionally, the company unveiled its Theory 1 concept car in September, showcasing cutting-edge technology and eco-friendly features.
Lotus Technology Inc. (Nasdaq: LOT) has announced a major breakthrough in its intelligent driving services, setting new standards in luxury automotive technology. The company's user app data reveals impressive achievements:
- A single intelligent driving session reached 533 kilometers without intervention
- Highest recorded single-user monthly intelligent driving mileage: 3,427 kilometers
- Total cumulative intelligent driving mileage for a single user: 36,342 kilometers
Lotus Robotics, a subsidiary of Lotus Tech, provides end-to-end intelligent driving services for Lotus Eletre (SUV) and Emeya (GT, Sedan) models. The company is expanding its global presence and has already provided intelligent driving solutions to multiple automakers. Lotus Tech expects this advancement to unlock new, high-margin revenue streams, contributing to long-term profitability.
Lotus Technology Inc. (Nasdaq: LOT) has unveiled the Theory 1, a groundbreaking concept car that represents a significant leap in automotive design and technology. Key features include:
1. Soft Robotics Fabric Driver System: Adapts to driver movements for enhanced comfort and control.
2. Revolutionary Door System: Unique reverse opening and wrap-over design for improved accessibility and aesthetics.
3. Three-Seater Configuration: Central driving position for optimal balance and handling.
4. Sustainable Materials: Utilizes ten main A-surface materials focused on performance, durability, and recyclability.
The Theory 1 embodies Lotus' 76 years of expertise and their new Digital, Natural, Analogue (DNA) design approach, aiming to shape the future of Lotus vehicles with a focus on innovation and environmental responsibility.
Lotus Technology Inc. (Nasdaq: LOT) has announced that its intelligent driving arm, Lotus Robotics, has been selected to supply to a world-class Japanese tier-one supplier. This marks a significant step for Lotus Tech to enter the Japanese market with its advanced intelligent driving technology. The selection involves Robo Galaxy, a solution including tool software and data collection hardware developed by Lotus Robotics to enhance the efficiency of intelligent driving solutions development.
Lotus Robotics offers comprehensive intelligent driving solutions, including advanced platform software, cloud toolchains, and integrated hardware and software development. The company is also seeking to extend its technology to major telecommunications companies in Japan. This expansion aligns with Lotus Tech's recent delivery of its Eletre model, an intelligent hyper SUV, in Japan and Korea.
Lotus Technology Inc. (Nasdaq: LOT) has begun delivering its Eletre intelligent hyper SUV in Korea and Japan, marking a significant expansion in key luxury markets. The company has upgraded its sales network, including a new Brand Center in Seoul's Gangnam district with a one-stop service center. Lotus has also opened reservations for its Emeya GT sedan in these markets.
Both Eletre and Emeya feature advanced hardware supporting intelligent driving services provided by Lotus Robotics, a subsidiary that has supplied solutions to other global automakers. In the first half of 2024, Lotus achieved a balanced global allocation, with each region contributing 20-30% of total deliveries, supported by over 200 stores worldwide. The company also started deliveries in the GCC region in Q3 2024.
FAQ
What is the current stock price of Lotus Technology (LOT)?
What is the market cap of Lotus Technology (LOT)?
