Lotus Technology (LOT) investor relations material

Executive summary

• Delivered 3,904 units in H1 2026, up 39% year-over-year, with China accounting for 58% of deliveries and strong growth from new launches in global markets.

• Revenue rose 23% year-over-year to $268 million, driven by lifestyle vehicles and the Eletre X launch.

• Gross margin improved to 10%, up from 8% in the prior year, reflecting product mix optimization and disciplined cost management.

• Operating loss narrowed by 63% year-over-year to $97 million, aided by disciplined cost management and a one-off license fee refund; adjusted operating loss narrowed 26% to $195 million.

• Net loss reduced by 52% year-over-year to $151 million; adjusted EBITDA loss narrowed by 57% to $104 million.

Financial highlights

• Deliveries: 3,904 units (+39% YoY); revenues: $268M (+23% YoY); gross profit: $26M (+47% YoY).

• Gross margin: 10% (up from 8% in 1H25); operating loss: $97M (down from $263M); net loss: $151M (down from $313M).

• Adjusted net loss: $149M; adjusted EBITDA loss: $104M (narrowed by 57% YoY).

• Operating expenses: $127.5 million, down 46% year-over-year; R&D expense $96 million (excluding one-off), up 4%.

• Cash and cash equivalents: $80.4M as of June 30, 2026.

Outlook and guidance

• Focus 2030 strategy targets 30,000 annual sales, >20% gross margin, and positive EBIT by 2030.

• Expecting a 36% CAGR in sales volume from 2025 to 2030.

• EBITDA expected to turn positive as SGA and R&D expenses are reduced to below 25% of revenue by 2030.

• Eletre X deliveries in mainland Europe expected in Q4 2026, UK in mid-2027.

• Anticipate further gross margin improvement as chip supply stabilizes in late 2026/early 2027.