Lotus Announces Strong Financial Results For First Nine Months Of 2024

Between Jan and Sept of 2024, total revenues reached $653 million (+105%), while sales of goods were $624 million (+104%).

In the first nine months of 2024, Lotus delivered a total of 7,617 vehicles (3,983 SUVs and Sedans + 3,634 Sportscars (+136%).

In Sept, Lotus launched the Eletre Carbon, a high-performance variant of its hyper-SUV tailored for the North America market.

Lotus Technology Inc, an all-electric lifestyle vehicle company based in Wuhan, China, has announced its unaudited financial results for the first nine months ended September 30, 2024.

Between January 1st and 30th September of 2024, total revenues reached $653 million, a 105% year-on-year increase, while sales of goods were $624 million, a 104% YoY increase.

In the first nine months of 2024, Lotus delivered a total of 7,617 vehicles (3,983 SUVs and Sedans + 3,634 Sportscars, representing a 136% year-on-year (YoY) increase. In an update, the company announced a total deliveries of 8,631 vehicles in the first 10 months of 2024.

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In the third quarter, Lotus began the deliveries of Emira in South Africa and India, and the Eletre in Japan, South Korea and the Philippines. During the quarter, the company also began the deliveries of bespoke versions of both Eletre (SUV) and Emeya (GT, Sedan).

In September, Lotus launched the Eletre Carbon, a high-performance variant of its Eletre electric hyper-SUV tailored for the North America market, with deliveries expected to commence in the first half of 2025.

“We continued to deliver strong operational growth, with total deliveries of 7,617 units in the first nine months of 2024, up by 136% year-on-year, driven by the European market,” said Mr. Qingfeng Feng, Chief Executive Officer.

“We are excited to see significant progress in our intelligent driving business across the world with revenue of the business from customers other than Lotus surged to $11 million with a year-on-year growth of 450%, contributing about 2% of total revenue.”

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