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Lotus Slashes Losses by 63% Amidst Strong China Sales
29 Aug
Summary
- Lotus Technology reduced operating losses by 63% year-on-year.
- Vehicle deliveries increased by 39%, boosted by the Eletre X model.
- Global revenues climbed 23% to $268 million with improved gross profit.
Lotus Technology reported a substantial 63% year-on-year reduction in operating losses for the first half of 2026. This financial improvement stems from its strategic Focus 2030 plan and strong sales, especially in China.
The company achieved this by decreasing its operating losses to $195 million from $263 million in the prior year period, even without accounting for a one-off license fee refund.
Total vehicle deliveries reached 3,904 units, marking a 39% increase compared to the previous year. The plug-in hybrid Eletre X model was a key driver of this growth, with deliveries in China up by 60% year-on-year.
Global revenues grew by 23% to $268 million, while gross profit improved to $26 million, with gross margin expanding to 10%. The upcoming 'One Lotus' merger is expected to streamline operations and enhance synergies between its mobility and production units.
Deliveries of the Eletre X are anticipated in mainland Europe in Q4 2026 and the UK by mid-2027. Lotus CEO Qingfeng Feng expressed encouragement regarding the scaling and operating performance, reaffirming a focus on sustainable, long-term value.
