Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
This current report on
Form 6-K, including the exhibit hereto, is incorporated by reference into the pre-effective amendment No. 1 to the registration
statement on Form F-3 (File No. 333-285533), post-effective amendment No. 3 to the registration statement on Form F-1
on Form F-3 (File No. 333-279108) and the post-effective amendment No. 2 to the registration statement on Form F-1
on Form F-3 (File No. 333-282217) and shall be a part of such registration statements from the date on which this current report
is furnished, to the extent not superseded by documents or reports subsequently filed or furnished.
Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Exhibit 99.1
Lotus Unveils Focus 2030 – Reinforcing
Brand DNA with an All-New Hybrid-V8 Supercar
| · | Focus 2030 targets market competitiveness and
sustainable business operations through brand reinforcement and unification, close partner collaboration, financial discipline, and multi-powertrain
strategy. |
| · | New proprietary X-Hybrid performance technology
will be the first of its kind to come to market in Europe in Q4 2026, with more than 1,000 orders in China in the first month for Eletre
X - showing early momentum. |
| · | Type 135 confirmed as an all-new hybrid-V8 supercar
coming to market in 2028, reaffirming Lotus’ performance DNA. |
NEW YORK, May 11,
2026 (GLOBE NEWSWIRE) – Lotus Technology Inc. (“Lotus Tech” or the “Company”) (Nasdaq: LOT), a leading global
intelligent and luxury mobility provider, today announced Focus 2030 for Lotus, an evolved business strategy designed to underpin
its competitiveness and transformation into a more flexible and sustainable business model ensuring market resilience amid external headwinds.
Built on four core pillars, including brand reinforcement,
a multi-powertrain strategy, close partner collaboration, and financial discipline, the strategy marks a significant reset for the brand.
Mr. Qingfeng Feng, Chief Executive Officer
of Lotus Tech, said, “Lotus was born from the rebellious spirit of Colin Chapman, and that is not lost today. Focus 2030 will reset
both the brand and the business, keeping us true to our DNA. We are obsessed with engineering, performance and building drivers' cars,
and that is what will grow this business.”
Protecting What Makes Lotus, Lotus
Focus 2030 puts the Lotus DNA at the heart of
every decision. Regardless of product or powertrain, every Lotus has been, and will be, developed against the same set of guiding principles:
lightweight design, aerodynamics, obsessive engineering, and driver engagement.
Lotus has been instrumental in shaping automotive
culture for 78 years - redefining the limits of performance in racing and building the most engaging road cars in the world. This continues
under Focus 2030, with design and engineering rooted in the UK, home of the brand’s identity and motorsport expertise, and R&D
in China to deliver rapid scale to market.
Multi-Powertrain Strategy, Built Around
the Customer
As regulatory and consumer landscapes continue
to evolve globally at different speeds, Lotus will pursue an agile approach across ICE (internal combustion engine), PHEV (hybrid electric
vehicle), and BEV (battery electric vehicle), targeting an approximately 60:40 mix between PHEV and BEV volume mix over its electrified
portfolio in the interim, and a customer-led transition to full electrification.
Hybrid technology will play a central role, serving
specific customer needs. First to come is X-Hybrid, a unique blend of ICE and BEV performance expertise that delivers long-range, flexibility,
and practicality alongside sustained high performance and Lotus’ trademark driver engagement.
Lotus’ proprietary
X-Hybrid technology was first launched on Eletre, as Eletre X (known as “For Me” in China). Customer deliveries have
started in China, and early vehicle reception has been positive, with more than 1,000 orders placed in the first month alone. Customer
deliveries in Europe are expected to begin in Q4 2026, making it the first of its kind to come to market.
Reaffirming the
brand’s performance DNA, the next development of Lotus’ proprietary hybrid technology will be the unveiling of its first-ever
supercar, Type 135 (also known as “Vision X”), planned for delivery in 2028. This will be an all-new car, featuring
a V8 hybrid powertrain, with over 1000PS. It is expected to be manufactured in Europe, with further details to be announced later this
year.
Emira continuity is confirmed, reflecting both
Lotus’ commitment to manufacturing in the UK and sustained consumer demand for its combustion-engine sportscars. The company will
reveal an update in the coming weeks, designed to be the most powerful and lightest Emira ever built.
Lotus’ BEV portfolio, Eletre (SUV), Emeya
(GT), and Evija (Hypercar), remains a core pillar of the business, having brought new customers to the marque and broadened its commercial
foundation. Lotus was an early adopter of 800V architecture through its electric SUV and GT offerings and remains committed to continued
BEV innovation.
Built to Compete Globally
Lotus’ close collaboration with its major
shareholder, Geely Holding Group, is central to Focus 2030. The two businesses are working together on technology development, supply-chain
competitiveness, and manufacturing efficiencies to increase go-to-market speed, global scale, and margin resilience.
The partnership gives Lotus access to world-class
electrification capabilities and resources, while Lotus contributes its globally recognized performance engineering expertise and brand
equity to Geely Holding Group’s portfolio.
Underpinning this is the planned integration of
Lotus UK and Lotus Tech into a single entity, which is expected to unify the brand, streamline governance, reduce costs, and accelerate
engineering integration for next-generation performance vehicles.
Daniel Li, Chairman
of the Board of Directors at Lotus Tech, and Executive Vice Chairman of Geely Holding Group, said, “Geely has believed
in Lotus from the beginning, and that belief has not wavered. We are committed to giving Lotus the resources it deserves to compete at
the highest level. What Lotus brings is irreplaceable, and Focus 2030 is proof that we take that responsibility seriously. We are excited
for the next chapter in the brand's story."
Restoring Financial Discipline
Focus 2030 sets a clear commercial direction for
the business, with a focus on targeted volumes, stronger margins, and greater emphasis on personalization. Lotus is guiding towards a
steady ramp-up to 30,000 sales units annually as its full model line-up stabilizes, enabling the business to reach sustained profitability.
Over the last year, Lotus has made significant
improvements across its entities to increase operational efficiency. Lotus Tech has also increased cost optimization and operational efficiency,
as demonstrated by its improved margins in its full-year 2025 results.
The Company has targeted a clear and diverse strategy
across its core markets:
| · | China - the primary volume growth engine,
leveraging strong demand for premium new energy vehicles (NEV). |
| · | Europe - building on racing heritage and
British engineering brand equity across a diverse powertrain portfolio. |
| · | North America - strategy anchored in sports
cars, with a new SUV market opportunity in Canada. |
| · | APAC and Middle East - foundations have
been developed, and the brand is now active in 25 markets across the region, providing opportunities to reach new customers with its entire
product portfolio. |
About Lotus Technology Inc.
Lotus Technology Inc. has operations
across the UK, the EU and China. The Company is dedicated to delivering luxury lifestyle electric vehicles, with a focus on world-class
R&D in next-generation automobility technologies such as electrification, digitalization 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 Technology Inc. undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Contact Information
For investor inquiries
ir@group-lotus.com
For media inquiries
rk@beforethestorm.co
