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. (Nasdaq: LOT) is described in its public communications as a leading global intelligent and luxury mobility provider with operations across the UK, the EU and China. The company designs, develops and sells luxury lifestyle battery electric vehicles and distributes luxury sports cars under the Lotus brand, while focusing on electrification, digitalisation and next-generation automobility technologies. News about LOT often highlights how these themes translate into vehicle launches, technology partnerships and financial milestones.
On this page, readers can follow company announcements on vehicle deliveries, revenue trends and margin developments, as Lotus Technology reports unaudited quarterly and half-year financial results. These updates typically include information on deliveries by model type and region, gross margin movements, operating loss and net loss, as well as non-GAAP metrics such as adjusted net loss and adjusted EBITDA that the company uses to assess underlying performance.
Lotus Technology’s news flow also covers its electrification roadmap and diversified powertrain strategy, including the debut of its first plug-in hybrid electric vehicle model and references to Hyper Hybrid EV technology and a 900V hybrid platform. Additional coverage includes strategic funding arrangements, such as credit facilities and convertible notes, and strategic investments like the share subscription agreement with ECARX Holdings Inc. for a private placement of newly issued ordinary shares.
Investors and followers of the Lotus brand can also read about brand and motorsport activities, including appearances at international mobility shows and design festivals, concept car showcases and GT racing series featuring Lotus vehicles. For anyone tracking LOT, this news feed offers a consolidated view of operational, financial, product and capital markets developments disclosed by the company.
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.
Lotus Technology (Nasdaq: LOT), a top global luxury electric vehicle maker, has published its 2023 ESG report, focusing on its 'Driving Change' vision. Key accomplishments include adding the Emeya electric hyper-GT with a 91.4% recyclability rate, obtaining ISO 14064-1 certification for carbon accounting, and receiving numerous green awards for its offices and factories. The company also emphasized its commitment to corporate governance and transparency, with recognition from ISSB and adherence to global ESG standards. TÜV NORD audited the report.
Lotus Technology reported unaudited financial results for Q1 2024, achieving $173 million in revenue, an 811% YoY growth, with a gross profit margin of 18%. The company delivered 2,194 vehicles globally, with over 75% of deliveries outside China. Key launches included the Chapman Bespoke service and the start of Emeya deliveries in China. Lotus Tech expanded its product portfolio to four models and operates a global sales network of over 200 stores. However, the company reported a net loss of $258 million, a 61% increase YoY. Operational losses also rose by 44%.
Lotus Technology (Nasdaq: LOT), a prominent global luxury electric vehicle manufacturer, will announce its unaudited first quarter 2024 financial results on May 29, 2024, before the U.S. market opens. An earnings conference call is scheduled for 8:00 AM U.S. Eastern Time on the same day. The webcast can be accessed at the provided link, and an audio replay will be available on the company's investor relations website.
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