Lotus Technology Reports Unaudited Half Year 2026 Financial Results

August 27, 2026

Operational and financial results demonstrate early progress of Focus 2030 strategy.
Successful launch of the first PHEV model contributed to 39% YoY growth in deliveries to 3,904 vehicles.
Total revenues of $268 million, up 23% YoY, driven by strong momentum in the China market.
Gross margin expanded to 10%, supported by an optimized product mix.
Operating loss narrowed by 63% YoY, driven by cost discipline, improving operating leverage, and a one-off license fee refund.
Lotus Tech has completed the acquisition of 100% equity interest of Lotus UK, integrating all businesses and operations under One Lotus.
Continued shareholder support with $128 million in funding.

NEW YORK, Aug. 27, 2026 -- Lotus Technology Inc. (Nasdaq: LOT) (“Lotus Tech” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its unaudited financial results for the half year ended June 30, 2026.

Operating Highlights of the First Half of 2026 In the first half of 2026, the Company recorded total deliveries1 of 3,904 units, up 39% YoY, outperforming the referenced traditional premium and luxury peers2. Growth was driven by the successful launch of the new PHEV model, Eletre X, which resonated strongly with customers and expanded the brand’s reach into new segments.

The introduction of Eletre X has accelerated the Company’s product mix transition, with contribution of lifestyle vehicles to total deliveries increasing to 77%, while maintaining stable performance in its sports car segment. Eletre X has been delivered in China and six international markets. Deliveries in mainland Europe are expected to commence in the fourth quarter of 2026, followed by the UK in mid-2027.

Regionally, China experienced strong growth in total deliveries with an increase of 60% YoY, outpacing the premium passenger automotive segment3 amid an increasingly competitive landscape.

Financial results improved during the period. Total revenues were $268 million, an increase of 23% YoY. Gross profit improved to $26 million, with gross margin expanding to 10%, driven by an optimized product mix. Operating loss narrowed by 63% YoY, reflecting disciplined financial management, improving operating leverage, and a one-off refund of the license fee in connection with adjustments to the product pipeline4.

On August 21, the Company completed the previously announced acquisition of Lotus UK. The integration brings together British sports car expertise and advanced technology development, and is expected to create a unique position within the luxury automotive sector, with a unified brand, streamlined governance, and enhanced synergies.

The achievements underscore the early success of the Company’s Focus 2030 strategy, which is centered on brand reinforcement, multi-powertrain strategy, close partner collaboration, and financial discipline. The strong market reception of Eletre X validates the Company’s multi-powertrain strategy, while margin expansion and a significantly narrowed operating loss reflect continued financial discipline. The integration resulting from the Lotus UK acquisition is expected to further strengthen brand management and operational efficiency.

The Company also continues to benefit from the strong support from its major shareholders and strategic partners. During the first half of 2026, it secured $128 million in funding from Geely, reinforcing confidence in its long-term strategy and providing a foundation for continued growth.

Financial Highlights of the First Half of 2026

Total revenues were $268 million, up 23% YoY.

Gross margin was 10%, versus 8% for the first half of 2025.

Operating loss was $97 million, narrowed by 63% YoY.

Net loss was $151 million, narrowed by 52% YoY.

Adjusted EBITDA (non-GAAP) was a loss of $104 million, narrowed by 57% YoY.

(A) Non-GAAP measure. See “Non-GAAP Financial Measures” and “Appendix C – Unaudited Reconciliation of GAAP and Non-GAAP Results (Adjusted net loss/Adjusted EBITDA)” for details and a reconciliation of adjusted metrics to the nearest GAAP measure.

Recent Developments

Eletre Launched in Canada: On April 23, Eletre EVs debuted in the Canadian market, making them the first Chinese-built luxury EVs available for purchase in Canada and making another milestone in the Company’s international expansion strategy.
Emira 420 Sport: In May, Lotus introduced the Emira 420 Sport, further strengthening its sports car portfolio and reinforcing the brand’s commitment to preserving its track-bred DNA.
Type 135 Supercar for 2028: Lotus has officially announced the development of a new mid-engine V8 hybrid supercar, internally codenamed Type 135, scheduled for release in 2028, underscoring its long-term commitment to high-performance vehicles.
Eletre X Orders Open in Mainland Europe: On June 3, Eletre X became available to order in mainland Europe, representing an important step in the international rollout of the Company’s first PHEV model. Customer deliveries are expected to commence in the fourth quarter of 2026.
2025 Sustainability Report: On June 18, Lotus released its 2025 Sustainability Report, highlighting continued progress in embedding sustainability across its global operations.
Emira Scura Limited Edition Launched: On July 26, Lotus launched the Emira Scura Limited Edition in China. Arriving 17 years after the Exige Scura, the Emira Scura pays homage to that model with a similarly striking design and is limited to just 9 units in China and 60 units in North America.
Emeya Sets New Electric Vehicle Lap Record: On July 20, Lotus Emeya set a new record at Malaysia’s renowned Sepang International Circuit, reinforcing the brand’s performance credentials.
Strategic Collaboration: On July 28, the Company announced a strategic collaboration with Finloop Finance Technology, an AI-driven global one-stop Web5 (Web2+Web3) wealth technology platform, and FOMO Pay, a leading Singapore-headquartered payment institution, to explore digital asset and real-world asset (RWA) tokenization in the luxury mobility sector.

CEO and CFO Comments Mr. Qingfeng Feng, Chief Executive Officer, commented: “Our first-half performance demonstrates clear progress in executing our transformational Focus 2030 strategy. The strong demand for our new PHEV validates our multi-powertrain approach and expands our addressable market. We are encouraged by the improvement in both scale and operating performance, and remain focused on delivering sustainable, long-term value. Looking ahead, we remain fully committed to our Focus 2030 strategy, building on the momentum of our multi-powertrain approach, expanding internationally and further enhancing operating efficiency, while continuing to strengthen Lotus’ track-bred DNA through vehicles such as the Emira 420 Sport and the upcoming V8 hybrid sports car, Type 135.”

Dr. Daxue Wang, Chief Financial Officer, commented: “We are seeing tangible results from our disciplined financial management and improving operating leverage. Margin expansion and significant reduction in operating loss highlight the effectiveness of our product strategy and cost control. With continued support from our shareholders, we are well positioned to further strengthen our financial performance in the coming periods.”

Conference Call Lotus Tech management will host an earnings conference call at 8:00 AM U.S. Eastern Time on Thursday, August 27, 2026 (14:00 Central European Time / 20:00 China Standard Time on the same day).

There will be a live audio webcast and limited-time replay available on the Company’s investor relations website at https://ir.group-lotus.com/news-events/events/

Participants who wish to view the live webcast may register at https://edge.media-server.com/mmc/p/fna84dsa

Participants who wish to join the conference call, please complete online registration prior to the scheduled call start time using the link provided below. Upon registration, participants will receive a confirmation email with conference call access information, including dial-in numbers and a unique PIN. Participant online registration link: https://register-conf.media-server.com/register/BIb14ba874347b4170a033130cedc8bcac

Note 1: Including commissioned deliveries in the U.S. market.

Note 2: Based on publicly disclosed information of Ferrari, Lamborghini, Aston Martin, Rolls-Royce, Porsche, BMW, Mercedes-Benz, Audi, and Volvo.

Note 3: Based on market data of retail sales volume in the first half of 2026 in mainland China. Premium auto segment refers to passenger vehicles priced over RMB 400,000.

Note 4: Excluding the one‑off license fee refund, the operating loss in the first half of 2026 was $195 million, narrowed by 26% YoY.

Note 5: Americas includes the U.S., Canada and South America.

$Lotus Technology(LOT)$

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