Notable Growth in China and U.K. Markets
Deliveries in China showed notable growth with the upgraded Eletre Hyper SUV becoming a leading model in China's premium battery electric SUV segment. In the U.K., battery electric lifestyle vehicles demonstrated significant year-on-year improvement.
New Funding Arrangements
Lotus secured a security purchase agreement with ATW Partners for convertible notes up to USD 300 million and funding commitments from strategic partner Geely via a master credit facility framework agreement.
Product and Technology Advancements
Lotus is rolling out the Emira model year '26 globally and plans to upgrade its powertrain in 2027. Additionally, the company is set to unveil its 900-volt hyper-hybrid EV technology, promising over 1,000 km range with industry-leading charging capabilities.
Operational Efficiency Improvements
Operating expenses have been reduced for 7 consecutive quarters, with a 42% year-on-year decrease in the first half, highlighting strong commitment to enhancing operational efficiency.
Strategic Partnerships and AI Developments
Lotus Robotics entered into an MOU with a strategic partner in the Middle East for AI and autonomous driving technologies. The company also plans to expand Robotaxi projects into Saudi Arabia.