On the evening of August 28, Lotus (LOT.US) announced significant growth in its performance for the first half of 2024.
Data shows that from January to June 2024, Lotus's total deliveries reached 4,873 units, marking a remarkable year-on-year increase of 239%. The company reported total revenue of $398 million for the first half of the year, which is a 206% year-on-year growth; merchandise sales amounted to $383 million, up 207% compared to the previous year; gross profit stood at $21 million, surging 246% year-on-year.
The company's return to the U.S. market has been particularly impressive, as it delivered 1,278 vehicles in the first half of the year, contributing 26% to the overall delivery volume.
Currently, Lotus has a balanced delivery distribution across its four key global markets. In addition to the United States, Europe, China, and other regions contributed 30%, 25%, and 19% respectively to the total deliveries in the first half of the year.
At the same time, Lotus's globalization process is accelerating further.
Currently, the Eletre (SUV) model has begun deliveries in Southeast Asia and is also expanding into new markets such as the Middle East, New Zealand, India, and Egypt, while initiating production orders in Australia and Japan/South Korea. The Emeya (GT sedan) has started deliveries in Europe and is now available for pre-order in the Middle East, Japan, South Korea, and Southeast Asia.
Based on the company's cautious assessment of the uncertain global market environment and tariff policies, the delivery target for 2024 has been adjusted to 12,000 units.
Under the "Win26" initiative, Lotus plans to achieve positive EBITDA and operating cash flow by 2026, enhancing financial performance, optimizing its balance sheet, and fulfilling its commitments to shareholders.