Lotus Technology Sees Revenue Surge Amidst Losses

Lotus Technology (LOT) has released an update.

Lotus Technology has reported impressive growth in its financial results for the first nine months of 2024, with vehicle deliveries surging 136% year-on-year to over 7,600 units. The company’s total revenue more than doubled to $653 million, driven by strong sales in Europe and the introduction of innovative technologies like the Hyper Hybrid EV. Despite the revenue growth, Lotus faced a net loss of $667 million, reflecting increased operational costs.

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