Lotus Technology Stock Price, News & Analysis

Lotus Technology Inc. (Nasdaq: LOT) has entered the GCC region with two award-winning models: the Eletre (SUV) and Emeya (GT, Sedan). The company has obtained local homologation certification for both models, with Eletre deliveries starting in Q3 and Emeya reservations now open. Lotus plans to open new showrooms and stores across major GCC cities, offering test drives and bespoke services. Both models are optionally equipped with advanced intelligent driving software provided by Lotus Robotics, a subsidiary of Lotus Tech. The Eletre, a 5.1m E-class SUV, boasts up to 905 horsepower and a top speed of 265km/hour, while the Emeya, a 5.1m E-class GT Sedan, offers similar performance specs. Both models have received prestigious awards, including Red Dot product design awards.

Lotus Technology reported strong financial results for Q2 and H1 2024, with total deliveries up 239% YoY to 4,873 units in H1. Revenue increased 206% to $398 million, while gross margin improved to 13%. The company achieved balanced global allocation, with the US market contributing 26% of deliveries after re-entry. Lotus launched bespoke services and grew technology-related income.

However, Lotus adjusted its 2024 delivery target to 12,000 units due to trade uncertainties and tariff hikes. The company initiated a 'Win26' plan aimed at achieving positive EBITDA by 2026. Operating loss increased 27% YoY to $438 million in H1 2024. Lotus raised $110 million through a convertible note placement in June.

Lotus Technology Inc. (Nasdaq: LOT) has announced that its intelligent driving arm, Lotus Robotics, is providing end-to-end intelligent driving solutions to Farizon Auto, a global leader in new energy commercial vehicles. This collaboration marks a significant expansion of Lotus Tech's business through technology. Lotus Robotics offers a comprehensive suite of advanced intelligent driving solutions, including ADAS, highway NOA, urban NOA, and intelligent driving toolchains.

The partnership aims to enhance driving safety and efficiency for Farizon's clean energy commercial vehicles. Lotus Robotics, established in 2018, has become a global premier provider of intelligent driving solutions. This collaboration is expected to diversify Lotus Tech's business portfolio with high-margin revenue streams, accelerating its growth in the intelligent luxury mobility sector.

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.

Lotus Technology Inc. (Nasdaq: LOT), a leading global luxury electric vehicle maker, has announced it will release its unaudited first half 2024 financial results on August 28, 2024, before the U.S. market opens. The company's management will host an earnings conference call at 8:00 AM U.S. Eastern Time on the same day (14:00 Central European Time / 20:00 China Standard Time).

Investors and analysts can access the live audio webcast and replay on Lotus Tech's investor relations website. For those wishing to join the call by phone, a registration link has been provided. This announcement signals Lotus Tech's commitment to transparency and investor communication, offering stakeholders insights into the company's financial performance for the first half of 2024.

Lotus Technology (Nasdaq: LOT) has been nominated as a finalist in two categories for the Reuters Sustainability Awards 2024: Business Transformation and Net Zero: Operations Transformation. This recognition highlights the company's commitment to sustainability and its Vision80 Strategy for business transformation and electrification.

Since 2018, Lotus has launched three electric vehicles: the Evija hypercar, Eletre hyper-SUV, and Emeya hyper-GT. The company aims for carbon neutrality across its entire value chain by 2038. Lotus Tech has implemented sustainable practices, including using 100% renewable energy in selected offices and installing solar power in its Global Smart Factory, which is certified as a Green Factory.

Chairman of ESG Committee, Alexious Lee, emphasized Lotus Tech's role as a pioneer in sustainable luxury mobility and its commitment to driving social change through innovation and sustainable operations.

SunCar Technology Group Inc. (NASDAQ: SDA) has announced a strategic partnership with Lotus Technology (NASDAQ: LOT) to enhance automotive industry services in China. The collaboration will leverage SunCar's auto e-insurance technology platform and extensive automotive service network to support Lotus's market expansion.

Key aspects of the partnership include:

• Providing Lotus owners with comprehensive one-stop automotive services
• Offering a wide range of insurance options and coverage services to Lotus customers
• Assisting Lotus in promoting vehicles across various regions
• Utilizing big data analytics to help Lotus understand consumer demands and optimize marketing strategies

This partnership aims to enhance brand visibility, competitiveness, and customer trust for Lotus while expanding SunCar's service offerings in the Chinese automotive market.

Lotus Technology has announced a convertible bond agreement worth approximately $110 million from a strategic shareholder. This private placement demonstrates ongoing confidence in Lotus Tech's growth and strategic vision. The funds will enhance the company's cash position, supporting further expansion. The deal is expected to close soon, pending standard conditions. The detailed terms are available in Form 6-K filed with the SEC. CEO Qingfeng Feng expressed gratitude for the shareholder's support and emphasized the company's commitment to sustainable growth.

Lotus Technology (Nasdaq: LOT), a leading luxury electric vehicle manufacturer, has been awarded the Global Zero Carbon City Pioneer Award at the 2024 Shanghai International Carbon Neutrality Expo. This recognition, the first for an automaker, acknowledges Lotus Tech's innovation and commitment to sustainability. The award, supported by the UN and launched by Tongji University and other partners, highlights the company's exemplary performance in green transportation, carbon neutrality, and clean energy. Lotus Tech aims to achieve full carbon neutrality by 2038 and has implemented comprehensive decarbonization strategies, including the use of 100% renewable energy in some offices and photovoltaic energy at its smart factory.