Vehicle Deliveries: Lotus Technology Inc. delivered a total of 2,813 vehicles in the first half of 2025, a significant decrease of 43% compared to 4,904 units in the same period of 2024.
Revenue: The company reported total revenues of $218 million for the first half of 2025, reflecting a 45% year-on-year decline from $398 million in the first half of 2024.
Operating Loss: The operating loss narrowed by approximately 40% year-on-year to $263 million, compared to $438 million in the first half of 2024.
Net Loss: The net loss for the first half of 2025 was $313 million, a 32% improvement from a net loss of $460 million in the same period of the previous year.
Market and Regional Insights
Regional Deliveries: In the first half of 2025, China accounted for 50% of total deliveries with 1,403 units, while North America saw a drastic drop to 430 units, down from 1,278 units in the previous year.
Model Performance: The upgraded Eletre hyper SUV emerged as a leading model in China's premium luxury BEV SUV segment during the second quarter of 2025.
Strategic Developments
Funding Commitments: The company secured approximately $500 million in funding commitments from institutional investors and strategic partners, enhancing its financial stability.
Partnerships: Lotus Robotics entered a Memorandum of Understanding (MoU) for collaboration on intelligent driving technologies, including a potential Robotaxi project in Saudi Arabia.
Recent Financial Highlights
Gross Margin: The gross margin for the first half of 2025 was reported at 8.2%, down from 12.8% in the first half of 2024.
Adjusted EBITDA: The adjusted EBITDA loss for the first half of 2025 was $240 million, a 37% improvement from the previous year.
Future Outlook
Acquisition Plans: The company is expected to acquire 100% of Lotus Advance Technologies Sdn by the end of 2025, following the exercise of put options by Etika Automotive and Geely.
Management Comments: CEO Qingfeng Feng emphasized the company's resilience in a competitive market and the importance of recent capital injections for future growth, while CFO Daxue Wang highlighted a 35% quarter-on-quarter revenue growth due to increased deliveries of upgraded models.
Second Quarter Performance
Deliveries: In the second quarter of 2025, total deliveries were 1,410 units, a 49% decrease from 2,739 units in the same quarter of 2024.
Revenue: The second quarter revenue was $126 million, down 44% year-on-year.
Net Loss: The net loss for the second quarter was $130 million, a 36% reduction from the previous year.
Conference Call Announcement
Earnings Call: Lotus Tech management will host an earnings conference call on August 29, 2025, to discuss the financial results and future strategies, with a live audio webcast available on the company's investor relations website.
LOT
$1.4+Infinity%1D
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About LOT
Lotus Technology Inc is a company mainly engaged in the design, development, manufacturing and sales of luxury electric vehicles. The Company is mainly engaged in providing luxury lifestyle battery electric vehicles, focusing on electrification, digitalization, intelligence and other automotive technologies. The Company designs, develops and sells luxury lifestyle cars (non-sports cars for everyday use) under the iconic British brand Lotus. The Company operates in China, the UK and the EU market.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
