Lotus Technology reported a 70% increase in 2024 vehicle deliveries, totaling 12,065, aiming for 20% growth in 2025.
Quiver AI Summary
Lotus Technology Inc. reported significant growth in vehicle deliveries for 2024, delivering 12,065 vehicles, which is an increase of over 70% from the previous year, making it the leading luxury brand in terms of growth rate. Approximately 25% of these deliveries came from China. For 2025, Lotus aims to boost global deliveries by 20%, with an expected contribution of 25-28% from the Chinese market. Additionally, the company successfully reacquired its trademark rights for the LOTUS brand in China, ensuring brand consistency worldwide. Lotus focuses on creating luxury battery electric vehicles and advancing technologies such as electrification and digitalization.
Potential Positives
- Lotus delivered 12,065 vehicles in 2024, showing a year-on-year increase of over 70%, indicative of strong market performance and growth.
- The company achieved the highest growth rate among leading luxury brands, positioning itself competitively within the luxury automotive sector.
- Approximately 25% of total global deliveries in 2024 came from China, highlighting a significant market presence and potential for further growth in that region.
- Lotus successfully reclaimed its trademark rights for key brand identifiers in China, enhancing brand consistency and protection in a crucial market.
Potential Negatives
- Despite a reported year-on-year delivery increase of over 70%, there is a notable lack of specific financial details regarding revenue and profit, which may raise concerns among investors about the overall financial health of the company.
- The press release includes a disclaimer about the vehicle delivery numbers possibly differing from financial accounting numbers, introducing uncertainty regarding the accuracy of the reported delivery figures.
- While Lotus has reclaimed its proprietary trademark rights in China, the emphasis on this achievement may indicate previous challenges in managing its brand and trademark protections, potentially reflecting operational vulnerabilities.
FAQ
What were Lotus Technology's total vehicle deliveries in 2024?
Lotus Technology delivered 12,065 vehicles in 2024, marking over a 70% increase from the previous year.
What is Lotus's growth target for vehicle deliveries in 2025?
The Company aims to increase global deliveries by 20% in 2025.
How significant was China's contribution to Lotus's vehicle deliveries?
China contributed approximately 25% of the total global deliveries in 2024.
What trademark rights did Lotus successfully reclaim in China?
Lotus reclaimed proprietary rights for the LOTUS roundel, LOTUS word mark, and the Chinese character "莲花".
Where can more information about Lotus Technology be found?
More information can be found on the Lotus Technology website at www.group-lotus.com.
Disclaimer: This is an AI-generated summary of a press release distributed by GlobeNewswire. The model used to summarize this release may make mistakes. See the full release here.
$LOT Hedge Fund Activity
We have seen 5 institutional investors add shares of $LOT stock to their portfolio, and 5 decrease their positions in their most recent quarter.
Here are some of the largest recent moves:
- HSG HOLDING LTD added 5,128,092 shares (+inf%) to their portfolio in Q3 2024
- TIDAL INVESTMENTS LLC added 79,337 shares (+inf%) to their portfolio in Q3 2024
- JANE STREET GROUP, LLC removed 13,916 shares (-100.0%) from their portfolio in Q3 2024
- STATE STREET CORP added 11,533 shares (+inf%) to their portfolio in Q3 2024
- VIRTU FINANCIAL LLC removed 7,219 shares (-31.0%) from their portfolio in Q3 2024
- JPMORGAN CHASE & CO added 6,246 shares (+inf%) to their portfolio in Q3 2024
- MORGAN STANLEY removed 5,747 shares (-100.0%) from their portfolio in Q3 2024
To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.
Full Release
NEW YORK, Jan. 14, 2025 (GLOBE NEWSWIRE) -- Lotus Technology Inc. (“Lotus” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its preliminary vehicle delivery results for the full year of 2024.
Lotus delivered 12,065 vehicles
1
in 2024, representing a year-on-year increase of over 70% and boasting the top growth rate among leading luxury brands
2
. China contributed approximately 25% of the total global deliveries in 2024.
In 2025, the Company aims to increase global deliveries by 20% with a 25-28% contribution from China. Lotus also successfully reclaimed the proprietary rights of the LOTUS roundel, LOTUS word mark and the Chinese character of Lotus ("莲花") in China, achieving consistency in terms of its trademark across the world.
Note 1: Invoiced deliveries, including commissioned deliveries in the US market. The vehicle delivery numbers presented above are derived from reports submitted by our business units. These numbers may differ slightly from the vehicle delivery numbers recorded in the financial accounting and reporting systems announced or to be announced by the Company.
Note 2: Including Ferrari, Porsche, Aston Martin, Bentley, Rolls Royce, McLaren.
About Lotus Technology Inc.
Lotus Technology Inc. has operations across the UK, the EU and China. The Company is dedicated to delivering luxury lifestyle battery electric vehicles, with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation 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 Tech undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Contact Information
For investor inquiries
ir@group-lotus.com
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