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Austin, Texas – December 4, 2024  As a proud creator of new luxury experiences, Lotus will make its Art Basel Miami Beach debut with its ‘Lotus Lounge’ pop-up experience, open to the public at The W Hotel, South Beach – located in the heart of this year’s activations. From Friday, December 6th to Sunday, December 8th, Lotus will be giving attendees an exclusive first look at its all-new ultra-luxury variant of the electric hyper-SUV Eletre, Eletre Carbon. It's bespoke design, versatility and engaging capabilities is the latest model of the Lotus lineup. Visitors will be able to get a close look at the latest innovations from Lotus including: New leather interior from Bridge of Weir, the global industry leading luxury leather supplier. Dynamic quilting interior design, which harmoniously blends of form and function. The flow lines create a dynamic, sculptural effect that complements the vehicle’s aerodynamic profile. Striking new satin black paint finish. As part of its activation, Lotus will also be hosting daily ride-and-drive events with its award-winning two-seater sportscar, Emira. The car builds on the legacy of past Lotus icons including Elise, Exige and Evora, and embodies the core values Lotus is renowned for. Drivers will be able to immerse themselves with its striking design, dynamic performance, best-in-class ride and handling, advanced aerodynamics and an unrivalled experienced - designed for the drivers.   Visit the Lotus Lounge: The W South Beach 2201 Collins Ave, Miami Beach, FL 33139, United States 9am – 6pm ET

Over 7,600 vehicles delivered in the first nine months of 2024, a year-on-year increase of 136% Total revenue reached $653 million, more than doubled year-on-year Revenue of intelligent driving business from customers other than Lotus surged to $11 million with a year-on-year growth of 450%  Launched Hyper Hybrid EV technology that provides high-performance with a combined range of over 1,100 kilometers   New York – Nov 21, 2024 – Lotus Technology Inc. (“Lotus Tech” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its unaudited financial results for the third quarter and first nine months ended September 30, 2024. Operating Highlights for the First Nine Months of 2024 In the first nine months of 2024, the Company achieved total deliveries1 of 7,617 units, representing a 136% year-on-year (YoY) increase. Global allocation was relatively diversified with each region contributing 18-35% of the total deliveries in the first nine months of 2024, powered by over 200 stores in prime locations worldwide. Europe market continued to expand with a year-on-year increase of 372% in deliveries in the first nine months of 2024. Rest of the World region achieved a year-on-year growth of 110% as the Company continued to make steady progress in its expansion into new markets. In the third quarter of 2024, the deliveries of Emira commenced in South Africa and India, and of Eletre in Japan, South Korea and the Philippines. Eletre Carbon, a high-performance variant tailored for the North America market, was revealed and is expected to commence deliveries in the first half of 2025.  Deliveries of bespoke and collection versions of both Eletre (SUV) and Emeya (GT, Sedan) also commenced in the third quarter. Lotus continues to drive technological innovation to meet market demand. Following the launch of the Theory 1 model which embodies the brand’s future design philosophy, the Company recently revealed Hyper Hybrid EV technology. Beyond upholding Lotus’ legacy of high-performance, the 900V Hyper Hybrid EV technology features industry leading Dual Hyper Charging technology and a combined range of over 1,100 kilometers to provide premium driving experience for the drivers.   Deliveries1 by Model Type   Jan-Sep, 2024 Jan-Sep, 2023 %Change (YoY) Lifestyle SUV and Sedan 3,983 1,762 126% Sportscars 3,634 1,459 149% Total 7,617 3,221 136%   Deliveries1 by Region   Jan-Sep, 2024 % by region Jan-Sep, 2023 % by region Europe 2,683 35% 568 18% China 1,880 25% 1,993 62% North America 1,665 22% - - Rest of the World 1,389 18% 660 20% Total 7,617 100% 3,221 100%   Lotus Robotics, the Company’s intelligent driving arm, has recently entered into an agreement with a top European automaker to deliver intelligent driving solutions for its multiple models in plan. As a result, the total contract value2 for Lotus intelligent driving with customers other than Lotus reached approximately $130 million for Lotus intelligent driving solutions following earlier agreements with multiple auto conglomerates such as Farizon and a top Japanese tier-one supplier.   Recognized revenue of Lotus Robotics (in millions of U.S. dollars, unaudited)   Jan-Sep, 2024 Jan-Sep, 2023 %Change (YoY) Revenue 19 6 217% from Lotus(A) 8 4 100% from Other Customers 11 2 450%         (A): Represent subsidiaries of the Company   Financial Highlights for the First Nine Months of 2024  Total revenues for the first nine months of 2024 were $653 million, a 105% YoY increase. Sales of goods were $624 million, a 104% YoY increase. Service revenues were $29 million, a 129% YoY increase. Gross margin for the first nine months was 9%, versus 11% in the same period of 2023. Gross margin of sales of goods for the first nine months of 2024 was 7%, versus 10% for the same period of 2023, mainly due to destock. Gross margin of service revenues for the first nine months of 2024 was 55%, versus 28% for the same period of 2023, due to increase of high-margin technology-related income. Operating loss was $598 million for the first nine months of 2024, a 18% YoY increase. Net loss was $667 million for the first nine months of 2024. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was $633 million for the first nine months of 2024, a 20% YoY increase. Adjusted EBITDA (non-GAAP) was a loss of $563 million for the first nine months of 2024, a 16% YoY increase.   Key Financial Results The table below summarizes key preliminary financial results for the first nine months ended September 30, 2024. (in millions of U.S. dollars, unaudited)    Jan-Sep, 2024 Jan-Sep, 2023 % Change (YoY) Revenues 653 318 105% Cost of revenues 594 284 109% Gross profit 59 34 75% Gross margin (%) 9% 11%   Operating loss (598) (508) 18% Net loss (667) (527) 27%        Adjusted net loss(A) (633) (527) 20% Adjusted EBITDA(A) (563) (486) 16% (A) Non-GAAP measure. See “Non-GAAP Financial Measures” and “Appendix D – 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 Delivery Updates: The Company delivered a total of 8,631 vehicles in the first 10 months of 2024. New Technology Launched: The Company unveiled its "Hyper Hybrid EV technology" on Guangzhou Auto Show. The 900V Hyper Hybrid EV technology features an Hybrid Electric Drivetrain and dual Hyper Charging technology: Ultra-Fast Plug-In Charging and Ultra-Fast On-The-Drive Charging, both with industry leading charging speed. The Hyper Hybrid technology enables high performance, high efficiency and a flexible longer driving distance of over 1,100 kilometer.  Delivery of Urban NOA (Navigate on Autopilot) Service and OTA: The Company started open beta test for urban NOA in key cities in October, 2024, following the launch of highway OTA services. Certain OTA, including highway assistant driving function, has been launched in Europe. Reuters Sustainability Awards 2024 : In October, the Company was awarded the Highly Commends honor at the Reuters Sustainability Awards 2024 in the Business Transformation category as the only awardee from the automotive industry.   CEO and CFO comments "We continued to deliver strong operational growth, with total deliveries of 7,617 units in the first nine months of 2024, up by 136% year-on-year, driven by the European market," said Mr. Qingfeng Feng, Chief Executive Officer. "We are excited to see significant progress in our intelligent driving business across the world with revenue of the business from customers other than Lotus surged to $11 million with a year-on-year growth of 450%, contributing about 2% of total revenue.  We also launched Hyper Hybrid EV technology, in line with evolving market demands. We remain committed in executing ‘Win26’ Plan to drive efficiency and competitiveness, delivering sustainable value for our shareholders and investors." "We have made continual improvement and streamlined our operations to drive efficiency, and resource optimization and achieve operating expenses reduction for four consecutive quarters." said Mr. Alexious Lee, Chief Financial Officer. "While gross margin for the first nine months of 2024 was 9%, shrinking 2 percentage points compared to the same period of 2023 due to proactive management of our inventory in response to trade protectionism, inflation impact and macroeconomic uncertainties, high margin intelligent driving business have secured $130 million of total contract value to boost future growth. We are committed to advancing the ‘Win26’ Plan target to continuously improve profitability and create long-term value."   Operating and Financial Results for the Third Quarter of 2024  Total deliveries1 for the third quarter of 2024 were 2,744 units, a 54% YoY increase. Total revenues for the third quarter of 2024 were $255 million, a 36% YoY increase. Gross margin for the third quarter of 2024 was 3%, versus 15% for the same period of 2023. Operating loss for the third quarter of 2024 was $160 million, narrowed by 2% compared with same period of 2023. Net loss for the third quarter was $206 million, a 19% YoY increase. Adjusted EBITDA (non-GAAP) was a loss of $182 million for the third quarter of 2024, a 18% YoY increase.   Deliveries1 by Model Type   3Q 2024 3Q 2023 % Change (YoY) Lifestyle SUV and Sedan 1,594 891 79% Sportscars 1,150 891 30% Total 2,744 1,782 54%   Key Financial Results The table below summarizes key preliminary financial results for the third quarter in 2024. (in millions of U.S. dollars, unaudited)    3Q 2024 3Q 2023 %Change  (YoY) Revenues 255 188 36% Cost of Revenues 247 160 54% Gross profit 8 28 (70%) Gross margin (%) 3% 15%   Operating loss (160) (163) (2%) Net loss (206) (174) 19%       Adjusted net loss(A) (209) (174) 20% Adjusted EBITDA(A) (182) (154) 18% (A) Non-GAAP measure. See “Non-GAAP Financial Measures” and “Appendix D – 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.   Conference call Lotus Tech management will host an earnings conference call at 7:00 AM U.S. Eastern Time on Thursday, November 21 2024 (13:00 Central European Time / 20:00 China Standard Time on the same day). There will be a live audio webcast and replay available following completion of the call on the Company’s investor relations website at https://ir.group-lotus.com/. For participants who wish to join the 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.vevent.com/register/BI46e1ce34cf354ab39173629030b38f03   Note 1:  Invoiced deliveries, including commissioned deliveries in US market. Note 2: The amount includes payable depending on future sales volume and is therefore an estimate in nature and subject to changes.

NEW YORK, Oct. 25, 2024 - Lotus Technology Inc. (“Lotus Tech” or “the Company”) (Nasdaq: LOT), a leading global intelligent and luxury mobility provider, has been bestowed with the Highly Commends honor at the Reuters Sustainability Awards 2024 in the Business Transformation category. The Reuters Sustainability Awards, now in its 14th year, stand as the world's premier awards celebrating leadership in sustainable business. With over 700 global entrants this year, 30 winners were selected across 17 categories. Notably, Lotus Tech is the sole winner from the automotive industry. The Business Transformation Award recognizes companies taking crucial steps to transform their business models in line with a clean, resilient, and just future. Lotus Tech's win is a testament to its comprehensive sustainability strategy, data-driven approach, and transparent disclosures that support systemic transformation. Since its Vision80 Strategy announced in 2018, the Company has been steadfastly driving business transformation to intelligent and luxury mobility provider. It has launched three electric vehicles - the hypercar Evija, Eletre (SUV), and Emeya (GT, Sedan) - and distributes them globally. “We're truly proud to receive this honor from the Reuters Sustainability Awards,” said Mr. Alexious Lee, Chairman of the ESG Committee at Lotus Tech. “We have made incredible progress since embarking on our business transformation journey in 2018. With this recognition, we are more determined to drive positive change for the next generation and our planet.”  To learn more about Lotus Tech’s ESG strategy and achievements, download the ESG report here: https://ir.group-lotus.com/environmental-social-governance

A fleet of ultra-luxurious Lotus Eletre, the company’s all-electric Hyper-SUV, will join Uber for a limited time in London – available to passengers who select Uber Green. Almost 30% of Uber’s miles in London are now fully electric.  The Uber rider who saves the most emissions by the end of November by taking fully electric trips will win free Uber Green trips for a decade.   24 OCTOBER 2024 – LONDON, UK  From October until the end of November, Uber riders in London will have the chance to experience high-end luxury and sustainability in one ride, as a fleet of ultra-luxurious Lotus Eletre Hyper-SUVs joins the Uber Green fleet for a limited time. Riders can book these cutting-edge electric vehicles via the Uber app’s Uber Green option and experience the future of zero-emission transport. With nearly 30% of Uber’s miles in London now fully electric, the initiative supports the city’s journey toward a cleaner, greener future. To encourage more riders to go electric, Uber has launched a special competition: the rider who saves the most emissions by the end of November by taking Uber Green trips will win free Uber Green rides for a decade. Riders will have until 30 November to rack up their electric miles. All Uber riders can track the emissions they’ve saved by taking Uber Green using the in-app Emissions Savings tool, which launched earlier this year. Andrew Brem, General Manager for Uber UK, said: “We’re thrilled to team up with Lotus to combine cutting-edge luxury with sustainable travel. Uber drivers are already leading the way, going electric far quicker than regular motorists – making London Uber’s global capital for electrification. Now we’re excited to allow our riders to experience one of the world’s most exciting electric cars.”  Conor Horne, Commercial Director of UK and Ireland at Lotus said: “We are incredibly excited to partner with Uber to have a fleet of our all-electric Lotus Eletre available in London via the app for passengers to experience and enjoy. We hope this initiative will not only enhance the riding experience for Uber customers but also contribute to a greener city, something we at Lotus are very passionate about.” Uber Green, which first launched in central London in 2021, allows riders to book a zero-emissions ride for the same price as an UberX, since its launch Uber has saved 55,000 tonnes of carbon emissions in London. Drivers taking Uber Green trips also earn 10% more on those trips compared to an UberX. Uber drivers are making the switch five times quicker than regular motorists. The Eletre, Lotus' first all-electric Hyper-SUV, redefines the passenger experience by combining luxurious comfort with cutting-edge technology. Passengers can enjoy a spacious interior designed for relaxation, featuring premium materials and a world-class infotainment system. Through the combination of exceptional aerodynamics, outstanding comfort, and true Lotus performance, the Eletre is the perfect option for those seeking an exceptional drive with a new luxury experience.  The cars will be licensed and managed via Otto Cars, London’s largest private hire provider. Gurinder Dhillon, Otto Cars CEO, said: “We are delighted to power-up this concept for Uber and Lotus. Let’s prove that a sustainable ride can be a thrilling experience, without the smoke."

New York – Oct 17, 2024   Lotus Technology Inc. (“Lotus” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its vehicle delivery results for the first nine months of 2024. Lotus continues to achieve top-rate growth among traditional luxury car brands, delivering 7,543 vehicles1 in the first nine months of 2024, representing a year-on-year increase of 134%. Global allocation in terms of deliveries remained well-distributed,  with Europe, China, North America and the Rest of the World regions each contributing about 20-35% of the total deliveries. In the third quarter of 2024, Emeya (GT, Sedan) was delivered to Europe, whilst Eletre (SUV) reached markets including the GCC, Japan and Korea. In September, Lotus revealed Eletre Carbon, a high-performance variant tailored for the North America market with a starting price of $229,900. The deliveries of Eletre Carbon is expected to commence in the first half of 2025.  Deliveries of bespoke and collection versions of both Eletre (SUV) and Emeya (GT, Sedan) also commenced in the third quarter. In September, Lotus unveiled its visionary Theory 1 concept car, a groundbreaking model that redefines the future of driving with its cutting edge technology, bold design, and eco-friendly features. Note 1: Invoiced deliveries, including commissioned deliveries in US market. The vehicle delivery numbers presented above are derived from reports submitted by our business units. These numbers may differ slightly from the vehicle delivery numbers recorded in the financial accounting and reporting systems to be announced by the Company. About Lotus Technology Inc. Lotus Technology Inc. has operations across the UK, the EU and China. The Company is dedicated to delivering luxury lifestyle battery electric vehicles, with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation and more. For more information about Lotus Technology Inc., please visit www.group-lotus.com. Non-GAAP Financial Measures The Company uses non-GAAP financial measures, including adjusted net loss and adjusted EBITDA in evaluating its operating results and for financial and operational decision-making purposes.  Adjusted net loss represents net loss excluding share-based compensation expenses, and such adjustment has no impact on income tax. Lotus Tech defines adjusted EBITDA as net loss excluding interest income, interest expense, income tax expenses, depreciation of property, equipment and software, and share-based compensation expenses. The Company believes that non-GAAP financial measures help identify underlying trends in its business and enhance the overall understanding of the Company’s past performance and future prospects. The Company also believes that non-GAAP financial measures allow for greater visibility with respect to key metrics used by the Company’s management in its financial and operational decision-making. Non-GAAP financial measures are not presented in accordance with U.S. GAAP and may be different from non-GAAP methods of accounting and reporting used by other companies. Non-GAAP financial measures have limitations as analytical tools and when assessing the Company’s operating performance, investors should not consider them in isolation, or as a substitute for financial information prepared in accordance with U.S. GAAP. The Company encourages investors and others to review its financial information in its entirety and not rely on a single financial measure. The Company mitigates these limitations by reconciling non-GAAP financial measures to the most comparable U.S. GAAP performance measures, all of which should be considered when evaluating the Company’s performance. For more information on non-GAAP financial measures, please see "Appendix C – Unaudited Reconciliation of GAAP and Non-GAAP Results (Adjusted net loss/Adjusted EBITDA)" set forth at the end of this press release. Forward-Looking Statements This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “may”, “should”, “expect”, “intend”, “will”, “estimate”, “anticipate”, “believe”, “predict”, “potential”, “forecast”, “plan”, “seek”, “future”, “propose” or “continue”, or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. Forward-looking statements involve inherent risks and uncertainties, including those identified under the heading “Risk Factors” in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Lotus Tech undertakes no obligation to update any forward-looking statement, except as required under applicable law.

London, UK – September 17, 2024    Lotus has unveiled Theory 1, its first concept car that embodies the future of intelligent performance vehicles.   As part of this, Lotus is launching The Lotus Theory, the company’s new design manifesto that will form the foundation for all future Lotus cars, encapsulated through three core principles - Digital, Natural and Analogue (DNA):  Digital, which represents the immersive, intelligent, and intuitive experience.  Natural, brings to life emotional, connected, human-centric design.  Analogue, which is the brand’s continuous advancement of performance engineering.    By seamlessly blending together these core design principles with the latest design innovations from Lotus, as well as cutting-edge technologies, Lotus is able to simplify and enhance how a car should feel and perform. Theory 1 harmoniously fits around the driver and is able to adapt based on their needs – delivering the ultimate driver experience.    Ben Payne, Vice President of Design, Lotus Group said:   “With Theory 1, we’ve built on everything Lotus has achieved so far in its 76-year history, to push the boundaries for what it means to drive a performance vehicle. We want to demonstrate that you don’t need to compromise – with both digital and analogue capabilities working harmoniously in the future car. In doing this, we are able to bring drivers the best possible immersive driving experience with raw emotion, functionality and connectivity, at the core.”  Theory 1 reaffirms the company’s Vision80 commitment – a transformation into a global performance technology brand. The innovations announced today are expected to be implemented into future Lotus cars in the coming years.    The ultimate immersive and intuitive driver system with LOTUSWEAR™  Lotus has developed its own proprietary driver system called LOTUSWEAR™, which is an immersive system that aims to deliver a personalised experience to every occupant in the car, designed to evoke a sense of raw emotion and pure excitement – and further connect them to the road.     This features an adaptive soft and lightweight robotic textile material, seamlessly enabling the car to communicate with the driver and passengers and offer a more intuitive and comfortable in-car experience. It aims to do this through inflatable pods on the seating and steering wheel that will react in real time to offer more support, grip, and subtle prompts via personalised haptic feedback. For instance:    Pulses on the left and right sides of the wheel will indicate when the driver should make a turn  There are five drive modes: Range, Tour, Sport, Individual and Track, delivering comfort and enhancing the driver experience & dynamic ability, as well as constantly adapting to the driver’s surrounding environment. This aims to optimise efficiency, performance, and comfort in any environment.      This component has been created in collaboration with MotorSkins, a startup that specialises in textile-based wearable robotics for every-day use. Theory 1 demonstrates the first time it is being used in the automotive industry.     In addition, LOTUSWEAR™ features 3D printed lattice structure headrests made in partnership with global 3D printing technology company Carbon, to offer all occupants in the car maximum comfort, whilst reducing the weight, improving material efficiency, and optimising aerodynamics.     To ensure every occupant can enjoy a truly immersive and unique audio experience, part of the headrest is a binaural audio system, which has been designed in collaboration with KEF. It offers individual bespoke soundscapes for each of the occupants, that are further enhanced by the subwoofer speaker located behind the driver seat. Occupants in the car can:   Enhance ‘speed’ sounds to deliver a sense of thrill, exhilaration, and fun.    Benefit from noise cancelling abilities to improve concentration and enhance the listening experience.    Level-up entertainment by providing an impeccable and immersive sound to further elevate the audio experience.    It uses binaural audio technology to do this, which enables channel separation of the sound arriving at each ear – delivering a full-bodied audio experience that feels as if the occupant is sitting in the middle of a recording studio.    Part of the proprietary driving system is the LOTUSWEAR™ Technology Line - a functional technology band running inside and outside of the car, acting as a communication device. It includes:   Integrated OLED technology to display multiple functions of the vehicle status to the driver and occupants, as well as other road users and pedestrians e.g. detecting the presence of an object or person close to the vehicle.    Lotus’ 360-degree autonomous driving sensor suite. The fully embedded L4 hardware capability consists of four deployable LiDARs, six HD cameras, and a combination of long- and short-range millimeter radars, plus ultrasonic radars, delivering 360° (5x) perception coverage. This ensures driver confidence by scanning for obstacles at a radius of up to 200m around the car, in every direction, even in low light or inclement weather.  The LOTUSWEAR™ technology line is built on the high-performance NVIDIA DRIVE compute platform – enabling redundant and diverse real-time sensor processing at trillions of operations per second for greater safety and enhancing the vehicle’s capabilities through advanced digitalization and adaptive parameters for optimum driving dynamics.   The LOTUSWEAR™ Technology Line is a homage to the purely functional joining “band” on the Lotus Esprit. It is also an evolution of the line of technology that Eletre and Emeya have within their interior architectures. By grouping the technology all in a singular line throughout the vehicle, Lotus aims to keep the design as minimal and harmonious as possible – a progressive expression of its technology DNA.    A new benchmark for user experience  Theory 1 seamlessly integrates projections, screens, and haptics, with Lotus’ new design manifesto to create a borderless user experience and provide the driver with information quickly and easily through:  Analogue interactive components and notifications via the adaptive inflatable soft textile material by MotorSkins.   A digital system that uses intelligent environmental light, LED and laser-light components, and reflections on the windscreen to communicate information with the driver, such as obstacle detection, braking, turns and more.   Two laser lights on the dashboard wings to indicate left and right turns, working in harmony with the haptic inflation materials on the seats.  Additional RGB LEDs on the suspension modules, which are visible from the interior, and have green or red signals, depending on the need for braking or acceleration.   Clear, functional, 2D graphics to display the main data on the steering wheel, ERMDs, and heads-up display. This has been designed with simplicity at the core, using the minimum amounts of fonts and graphic elements.   Immersive 3D graphics, where a grid of points evolve into lines that change length, colour and direction according to vehicle speed, braking, turning, and drive modes - a homage to the Arte Programmata movement from the 60s.  These key features enable the driver to enhance their use of peripheral vision, meaning they do not need to take their eyes off the road. In doing this, Lotus designed a fluid and intuitive experience for the drivers, so they can focus more on driving, minimizing distractions and further enhancing safety.   A holistic design approach, with minimal materiality and true innovation  With current cars made of an average of 100 A-surface materials, as a concrete action to a more sustainable future and circular economy, Lotus started from scratch to build a car with as few materials as possible.   As a result, the ‘Challenge of 10’ was created, and it is Lotus’ intention and ambition to push the automotive industry forward, demonstrating the company’s north star for future material innovation.   Theory 1 has been designed with only ten main A-surface materials with performance, durability, lightweight, recycled, and recyclable properties. This includes the use of cellulose based glass fibre, recycled chopped carbon fibre, titanium, recycled glazing, recycled polyester, recycled rubber, elastomeric Polyurethane, transparent polycarbonate, thermoplastic polyurethane, and recycled aluminum.   The Challenge of 10 demonstrates Lotus’ commitment to pure minimalism, which is a nod back to Lotus’ simplicity of construction and lightweight principles of the company’s heritage vehicles.   This philosophy is also demonstrated in the LOTUSWEAR™ driver system with the soft robotic fabrics in collaboration with MotorSkins, as well as 3D printed lattice structure headrests in partnership with Carbon.   In addition, Lotus has tapped into global electronics manufacturer Kyocera SLD Laser, Inc., a Kyocera group company, to deliver industry-leading laser lights in both the interior and exterior, in order to deliver a safe, powerful, and advanced lighting system, whilst drastically reducing component size and weight. This includes ‘Next Generation’ laser wire DRL functions, which are less than a millimeter in diameter, and main and dipped-beam functions which are delivered through lenses of 7x35mm.   With these principles as the foundation of Lotus design DNA, the company’s intent is to enhance the performance of its cars in line with racing principles, which Lotus was renowned for. Its aim is also to make performance cars more accessible by simplifying the design and technology, making it as easy as possible for anyone to use.   Enhancing dynamic performance, handling, and speed Theory 1 extends Lotus’ expertise in engineering to bring drivers an electric car that performs exceptionally and unlocks driver confidence by making the experience as fun and engaging as possible.  This includes advanced active and passive aerodynamic techniques including cooling, active rear spoiler, and passive rear underbody. All of this, along with the low centre of gravity, enhances stability and increases the lightness of the vehicle.  Theory 1 seamlessly integrates advanced aero and cooling systems, which are designed to work in harmony and increase efficiency. This includes:  The nose cone on the vehicle has diffuser and drag-reducing air deflectors, with an air curtain that minimises the car’s wake. This has been inspired by Lotus’ racing heritage.   A contoured underfloor which directs air through low drag NACA ducts into the cooling system, and outlets creating a blown air foil reducing separation, as well as enabling more powerful force.    Side pods in the vehicle which have been meticulously designed to isolate turbulent wake from the attached airflow, guiding it towards the rear.  In addition, inspired by the revolutionary Lotus 49 Formula 1 car, Theory 1 has been designed to use its motor and battery assembly as a stressed member to take the forces directly from the suspension – reducing complexity and weight, with no need for a subframe. The rear wing has also been mounted directly to the motor and suspension assembly to ensure the downforce acts directly on the suspension mounts, all the way through to the tyres - reducing losses and frontal lift. The rear suspension system also features a pull rod design, which delivers a more compact package and lower centre of gravity.  The ultimate advanced dynamic architecture, delivering a state-of-the-art and seamless experience  Lotus has developed a proprietary sports car door system that enables all occupants with easy ‘step-in’ access to the car with its reverse opening and wrap-over design. With this, Lotus has been able to achieve the smallest footprint it can with the doors opened, allowing for practical use of doors even in narrow spaces. For instance, if a car is parked in a tight car park with a 2.4-meter space, the driver will still be able to get in and out of the vehicle with ease. This has previously been a challenge with similar high-performance sports cars.   Furthermore, Theory 1 is a three-seater sports car which has a central driving position, with a passenger on each side, nestled behind the driver. Inspired by motorsports, the driver’s seat in the middle of the car provides the driver with the best possible visibility of the road ahead, as well as easy access to all controls.  The inside of the vehicle structure has also been shaped around the human body, with the seating integrated into the structure. Lotus has designed the car, to respond to the occupant’s body. For instance, the steering wheel and pedals all move towards the driver.   The car also features steer-by-wire, which enables precision and control at every turn and the ability to adjust steering ratios, speed and feel. This is designed to deliver precision and the smoothest ride, further enhancing driver confidence, and connecting them to the road.  The pinnacle driving experience, powered by the Lotus DNA Theory 1 features bespoke Pirelli tyres belonging to the P Zero family, Pirelli’s Ultra High-Performance (UHP) range. These have been developed specifically to enhance the vehicle’s performance, with particular attention to limit the environmental impact, and include Elect - Pirelli’s most advanced set of technologies developed to emphasize the characteristics of electric cars.   Pirelli Elect tyres have a structure and materials that support the weight and the high torque typical of vehicles with electric powertrains, providing longer durability, less tyre wear, and optimising battery range. These tyres are present today in the company’s electric vehicles including its hyper-SUV, Eletre; hyper-GT, Emeya; and hypercar Evija.  The car also details the latest advanced performance braking systems from AP Racing, who Lotus has had a long-standing relationship with. It goes all the way back to the 1967 Lotus 49 and AP Racing today provides the brake systems in Lotus’ current product lineup including Evija, Eletre and Emeya. Theory 1 features a super lightweight, high performance carbon ceramic braking system, with near-net Monoblock aluminum forged body with asymmetric design – reducing material where not needed. To find out more please visit Lotus Theory 1     Target technical specifications  Powertrain and Performance Category Theory 1 Battery capacity 70 kWh 0-100 km/h (0-62 mph) <2.5 seconds Max power 1000 PS Top speed 320 kph WLTP combined range 402 km / 250 miles Drivetrain AWD   Dimensions Category Theory 1 Height 1140 mm Length 4490 mm Width (including cameras) 2000 mm Width (excluding cameras) 2000 mm Wheelbase 2650 mm Front track 1720 mm Rear track 1700 mm Front overhang 1052 mm Rear overhang 790 mm Weight <1600 kg   Body and Chassis Category Theory 1 Tub Recycled chop carbon fiber Body Cellulose composite and polycarbonate Greenhouse Recycled glass   Steering and Suspension Category Theory 1 Steering Steer by wire Suspension type Front and read double wishbone Damping system Active   Wheels and Brakes Category Theory 1 Tyres - front Pirelli P-ZERO Elect – 265/35 R20 Tyres- rear Pirelli P- ZERO Elect – 325/30 R21 Rims – front 20 X 9.5J Rims – rear 21 X 11.5J Brakes AP Racing 6 piston calipers Near-net Monoblock forged Front discs 390 x 36 mm Rear discs 390 x 36mm   ENDS Note to Editors  Theory 1 is not for sale. This is a concept car, which is a canvas for our design R&D programmes, and our intent for the technology and innovation we are exploring implementing in the future across all our product lineup including lifestyle EVs and sportscars.   

Austin, Texas – September 12, 2024   Lotus has announced the launch of a new ultra-luxury variant of its electric hyper-SUV Eletre, Eletre Carbon in North America.     Building on the exhilarating and engaging capabilities of Lotus’ existing hyper-SUV, Eletre Carbon is the highest-performing and dynamic model of the Eletre, setting a new benchmark globally for luxury electric vehicles (EVs).   The latest model from Lotus blends progressive performance with technical artistry throughout its interior and exterior design. It showcases the brand’s highest-quality craftsmanship with carbon fiber, a luxury and versatile advanced material used throughout to further enhance the look and feel of the performance car.  Eletre Carbon features three new leather interior colorways including black, light grey and dark brown from Bridge of Weir, the global industry leading luxury leather supplier. This offers Lotus customers the highest quality luxury, and low carbon leathers to create a next level interior that raises the bar on design and comfort and luxury.   In addition, the new interior leather includes a dynamic quilting design, which harmoniously blends of form and function. The flow lines create a dynamic, sculptural effect that complements the vehicle’s aerodynamic profile. This has been inspired by the principles of porosity, and the pattern enhances both aesthetic appeal and luxury-performance.   Additional options for Eletre Carbon include the powerful 10 piston carbon ceramic brakes, and a striking new satin black paint finish.  The car has been designed specifically for the US and Canadian market to meet local consumer demand and offer the ultimate performance SUV. Eletre Carbon pricing starts at $229,900. It is available for consumers to customize and place an order today, with customers in North America expecting to receive their vehicles from Q1 2025.   Eletre will also be available for customers in North America to commission their own unique Lotus, with a wide range of customization options, as part of Lotus Chapman Bespoke, which is coming soon to the region. This division of the brand specializes in creating highly personalized, custom-made luxury vehicles. It offers customers the opportunity to commission their own unique Lotus, with a wide range of customization options including custom badges and trims, to complete one-off personalization of an entire vehicle.    ELETRE CARBON OVERVIEW The car also brings together Lotus’ design DNA and expertise in advanced active aerodynamics, with the latest technologies – offering a car that is both fun to drive, versatile and practical for everyday use.    Key features include:  Ultra-luxury design enhancement.  The Eletre Carbon boasts an extended carbon fiber design in the interior and exterior bringing a robust and lightweight structure to the first of a new breed of performance SUVs from Lotus. This will also come in the new Stardust black color with a satin finish, exclusive to Eletre Carbon.  Enhanced speed and performance with advanced active aerodynamics.   Features up to six driving modes, including Tour, Range, Sport, Off-Road, Individual, and Track, in addition to standard rear wheel steering, active roll control, and rear- bias torque split. Eletre Carbon also comes with the option of 10-piston 420mm carbon ceramic brakes, providing drivers with Lotus’ signature dynamic handling capabilities and offering a car that is powerful and pragmatic for day-to-day use.   A new luxurious travel experience.   Orders of the new model will feature new Bridge of Weir leather interior options in three new colorways, in addition to a charcoal Alcantara and carbon steering wheel and carbon fiber deco panels, providing drivers with an enhanced luxury feeling.   Sportscar levels of performance in the comfort of an SUV.  Eletre is one of the most powerful SUVs in the world. The Eletre Carbon model boasts rapid acceleration (0-62 mph) in just 2.95 seconds and can reach 265km/h with maximum power of 675km/905hp.1  Charging peace-of-mind for any adventure.  Eletre uses hyper-fast charging, which can reach a range of up to 280 miles with a 350kW-DC fast charger in 18 minutes.2   A new benchmark for world-class refinement.  Eletre Carbon offers the ultimate enjoyment with five massage modes3  ambient lighting functions that communicate intuitively with the driver, door soft close function, a spacious boot of up to 1,532 liters, and advanced intelligent panoramic glass roof, which drivers can switch between opaque and clear.  Next-generation innovation, designed to be intuitive and enhance the driver's experience.  Lotus has incorporated the latest state-of-the-art technology hardware with Eletre Carbon to provide the best possible performance, as well as confidence and safety. This includes two NVIDIA DRIVE Orin chips, 34 sensors and 12 cameras. Lotus is committed to continually improving its vehicles with over-the-air updates, which also include new features and services.  An immersive state-of-the-art infotainment experience.  With seven configurable screens including a 15.1-inch OLED touchscreen display, Eletre offers a world class infotainment system that is seamless and lag-free, powered by Lotus’ award-winning HyperOS.  Lotus is also the first automotive brand to incorporate KEF's unique Uni-Q speaker design and Uni-Core subwoofer enclosure in its in-car audio systems, providing an immersive, full bodied audio experience, as if sitting in the middle of a recording studio. Every occupant can enjoy the same detailed, natural sound no matter where they are sat.      PRICING AVAILABILITY Eletre Carbon will be available in eight colors including Stellar Black, Kaimu Grey, Solar Yellow, Akoya White, Galloway Green, Blossom Grey, Cinnabar Red, and Stardust (satin).      Eletre Carbon  USD  229,900  CAD  313,500   

Lotus Technology Inc. (“Lotus Tech” or the “Company”) (Nasdaq: LOT), a leading global intelligent luxury mobility provider, today announced that it has recently obtained local homologation certification for the Eletre (SUV) model and the Emeya (GT, Sedan) model in the GCC region, paving the way for deliveries of Eletre (SUV) which started in the second quarter. The milestone marks an important step as the Company continues to expand its presence in a region renowned for its passion for heritage luxury brands of automobile, racing DNA, and advanced technologies. While deliveries of Eletre (SUV) model are already under way, reservations of Emeya (GT, Sedan) models have also begun. New Lotus showrooms and stores in prime locations across major cities will be available for customers to test-drive and experience the exceptional control and driving dynamics of Lotus vehicles, which embody optional advanced intelligent driving software. Bespoke service will also be available for personalization and customization, catering to reservations for limited-edition models.  Both Eletre (SUV) and Emeya (GT Sedan) are optionally equipped with state-of-art hardware that support end-to-end intelligent driving services which could be updated through OTA. The intelligent driving services were provided by Lotus Robotics, a subsidiary of Lotus Tech. Lotus Robotics has provided multiple global leading OEMs with comprehensive intelligent driving solutions, including advanced intelligent driving platform software, cloud toolchains, integrated hardware and software development, and intelligent driving operation solutions. “The GCC region has always been a key market for Lotus, given the brand’s long-standing racing heritage,” said Qingfeng Feng, CEO at Lotus Tech. “This represents a significant step in our global expansion and resonates with our plan to bring award-winning models, with best-in-class driving experience and optionally equipped state-of-art technologies, to drivers who share the same passion as the brand.” The Eletre model is a 5.1m E-class SUV with up to 905 horsepower and speed up to 265km/hour on different regional options. Eletre has won “SUV of the year” by GQ, “Lifestyle car of the year” by Quattroruote awards, and Red Dot product design award, in 2023 and 2024. The Emeya model is a 5.1m E-class GT, Sedan with up to 905 horsepower and speed up to 256km/hour on different regional options and won the Red Dot product design award in 2024.

Robust start in 2024, marking the strongest first half-year performance in the brand’s history. Balanced global allocation, with strong US deliveries1 contribution after the brand’s re-entry into the market. Launched bespoke services and continued growing technology-related income, which are expected to be potential contributors of profit margin in the future. Adjusted the annual delivery target due to near-term disruptions from trade uncertainties and tariff hikes. Initiated the“Win26” Plan aiming to achieve positive operating cashflow and EBITDA in 2026.   New York – August 28, 2024 – Lotus Technology Inc. (“Lotus Tech” or the “Company”), a leading global intelligent and luxury mobility provider, today announced its unaudited financial results for the second quarter and half year ended June 30, 2024. Operating Highlights for the First Half of 2024 In the first half of 2024, the Company achieved total deliveries1 of 4,873 units, representing a 239% year-on-year (YoY) increase. The Company also achieved a balanced global allocation with each region contributing 20-30% of the total deliveries in the first half of 2024, powered by over 200 stores in prime locations worldwide. The US market recorded exceptional growth and contributed 26% of the total deliveries after Lotus’ re-entry into the market. The achievements reflect the Company’s steady transition from a traditional sportscar maker to an intelligent luxury mobility provider. Deliveries1 by Model Type   1H 2024 1H 2023 %Change (YoY) Lifestyle SUV and Sedan 2,389 871 174% Sportscars 2,484 568 337% Total 4,873 1,439 239%   Deliveries1 by Region   1H 2024 1H 2024% 1H 2023 1H 2023 % Europe 1,459 30% 89 6% China 1,208 25% 965 67% North America 1,278 26% - - Rest of the World 928 19% 385 27% Total 4,873 100% 1,439 100%   In the first half of 2024, technology-related revenue began to scale as the Company started to provide intelligent driving solutions and R&D services to multiple leading automotive brands. As the fleet of models equipped with state-of-the-art hardware continues to expand, paid software subscriptions is a potential growth driver in the future. The Chapman Bespoke service which provides customer personalization, design customizations, limited collection editions, and one-off models, was also launched to cater to growing demand. Deliveries of bespoke models are expected to further boost the brand’s luxury positioning and contribute to the Company’s long-term premium gross margin. After assessment of the evolving market conditions, and uncertainties posed by new tariff policies in US and EU, the Company has revised its delivery target for 2024 to 12,000 units. The Company launched the “Win26” plan, aiming to achieve positive EBITDA in 2026 by further optimizing its internal processes and structures, implementing overall cost measures, and recalibrating its product plans to cater to globally diversified markets.   Financial Highlights for the First Half of 2024 Total revenues for the first half of 2024 were $398 million, a 206% YoY increase. Sales of goods were $383 million, a 207% YoY increase. Service revenues were $15 million, a 194% YoY increase. Gross margin for the first half was 13%, versus 5% for the first half of 2023, driven by the growth in margin from both sales of goods and service revenues. Gross margin of sales of goods for the first half of 2024 was 11%, versus 4% for the same period of 2023. Gross margin of service revenues for the first half of 2024 was 58%, versus 16% for the same period of 2023. Operating loss was $438 million for the first half of 2024, a 27% YoY increase. Net loss was $460 million for the first half of 2024. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was $424 million for the first half of 2024, a 20% YoY increase. Adjusted EBITDA (non-GAAP) was a loss of $382 million for the first half of 2024, a 15% YoY increase.   Key Financial Results The table below summarizes key preliminary financial results for the half year ended June 30, 2024. (in millions of U.S. dollars, unaudited)    1H 2024 1H 2023 % Change (YoY) Revenues 398 130 206% Cost of revenues 347 124 180% Gross profit 51 6 731% Gross margin (%) 13% 5% - Operating loss (438) (344) 27% Net loss (460) (353) 30%        Adjusted net loss(A) (424) (353) 20% Adjusted EBITDA(A) (382) (333) 15% (A) Non-GAAP measure. See “Non-GAAP Financial Measures” and “Appendix D – 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 Delivery Updates: Following Southeast Asia deliveries, Eletre (SUV) model started deliveries to new markets such as GCC, New Zealand, India, and Egypt. Production orders for Eletre (SUV) model began for new markets such as Australia, Japan and Korea. Emeya (GT, Sedan) model started deliveries in Europe. Reservations of Emeya (GT, Sedan) model began in the GCC, Japan, Korea and Southeast Asia. Lotus Robotics provides solutions to multiple OEMs: Lotus Robotics, a subsidiary for intelligent automobility technologies development, licenses several leading automakers to provide them with its intelligent driving technology and solutions, including Lynk&Co and Farizon Auto. Strategic capital raised: As previously announced, in June 2024, the Company entered into a convertible note purchase agreement with an aggregate principal amount of approximately $110 million through a private placement from its existing strategic shareholder.  Dual Red Dot Awards: In June 2024, two Red Dot Awards in Product Design were given to the ground-breaking hyper electric vehicles: the Eletre (SUV), and the Emeya (GT, Sedan). Reuters Sustainability Awards 2024 Nomination: In July 2024, Lotus Tech was nominated as the finalist in the Reuters Sustainability Awards 2024 in the business transformation and Net Zero: operations transformation. Reuters Sustainability Awards are the world’s leading awards recognizing leadership in sustainable business.   CEO and CFO comments "Through our unwavering pursuit to performance and excellence, we made steady progress with continuing operation growth in the first half of 2024," said Mr. Qingfeng Feng, Chief Executive Officer. "In the first half of 2024, the deliveries soared to nearly 4,900 vehicles, up 239% year-on-year. We achieved even more balanced distribution of deliveries in all key markets globally. The US market recorded extraordinary growth after Lotus’ re-entry into the market, contributing to 26% of total deliveries. We launched “Win26” plan to increase resilience, strengthen our brand, and strive for sustainable growth. Going forward, we will keep executing our plans, boosting our efficiencies and competitiveness, and remain committed to our customers, investors, and stakeholders.” "We continued delivery of strong topline growth in the first half of 2024, with total revenues and gross profit up by 206% and 731% year-over-year respectively,” said Mr. Alexious Lee, Chief Financial Officer. "Gross margin for the first half of 2024 increased by 8 percentage points year-over-year but shrank 2 percentage points compared to year end of 2023 as a result of increased cost of Emira (sportscar) model due to inflation and seasonal variation in product sales mix. Our average selling price (ASP) remained above $100,000 in the first half of 2024 despite intensified competition. The execution of our “Win26” plan will enable the Company to achieve positive EBITDA and operating cash flow in 2026, to boost our financial performance, strengthen our balance sheet, and deliver our commitments to shareholders.”   Operating and Financial Results for the Second Quarter of 2024 Total deliveries1 for the second quarter of 2024 were 2,679 units, a 128% YoY increase. Total revenues for the second quarter of 2024 were $225 million, a 103% YoY increase. Gross margin for the second quarter of 2024 was 9%, versus 5% for the same period of 2023.. Net loss for the second quarter was $202 million, a 4% YoY increase. Excluding share-based compensation expenses, adjusted net loss (non-GAAP) was $201 million for the second quarter of 2024. Adjusted EBITDA (non-GAAP) was a loss of $177 million for the second quarter of 2024, a 1% YoY decrease.   Deliveries1 by Model Type   2Q 2024 2Q 2023 % Change (YoY) Lifestyle SUV and Sedan 1,342 637 111% Sportscars 1,337 538 149% Total 2,679 1,175 128%   Key Financial Results The table below summarizes key preliminary financial results for the second quarter in 2024. (in millions of U.S. dollars, unaudited)    2Q 2024 2Q 2023 %Change  (YoY) Revenues 225 111 103%  Cost of Revenues 204 105 95%  Gross profit 21 6 246%  Gross margin (%) 9% 5% -  Operating loss (204) (183)  12%  Net loss (202) (193) 4%       Adjusted net loss(A) (201) (193) 4% Adjusted EBITDA(A) (177) (178) (1%)  (A) Non-GAAP measure. See “Non-GAAP Financial Measures” and “Appendix D – 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.