Lotus Technology Inc., the luxurious electric vehicle arm of the iconic British brand, 70% reported in global vehicle supplies in 2024, up to 12,065 units. However, this growth has been overshadowed by a net loss of $ 667 million for the first nine months of the year, driven by the climb of operational activities and the impact of American rates on vehicles.
Evoid The impressive delivery figures, the financial health of the company remains mainly. Reves more than doubled to $ 653 million compared to the same pours in 2023, but the gross margins fell to 9% of 11%, which emphasized the challenges of Mainintile’s profitability in a volatile market. Operational losses rose by 18% on an annual basis and underlined the pressure on the business results of the company.
The American market, an important destination for Lotus vehicles, you have an increase in more challenging due to the reintroduction of 25% rates on cars. These rates, part of broader protectionist measures, will disrupt the global supply chains and higher costs for manufacturers. Lotus, who exports to a considerable part of his vehicles to the US, are immediately affected, which leads to strategic cost -saving measures, including the elimination of 270 jobs.
Chief Financial Officer Daxue Wang attributed the financial decline to the uncertainties of global trade and rising rates. The company undergoes strategic cost optimizations and operational adjustments, especially because it integrates its British sports car department with its Chinese electric car unit. GEYY HOLDINGS, the majority shareholder of Lotus, you have strengthened his control by a repurchase clause from Lotus Technology Inc. To activate to acquire full deployment in his advanced technology unit.
In response to these challenges, Lotus that you intensified, it focuses on the Chinese market, which in 2024 was around 25% of the global delivery delivery. In addition, Lotus that you have his product portfolio, introduction models such as the EMEYA and Electre, has expanded and his “Hyper Hybrid EV technology” unveils on the Guangzhou car show.
