Delivery of the Eletre luxury electric SUV by Lotus Technology commences

Lotus Technology Inc. has successfully completed its first delivery of Eletre, its first fully electric hyper SUV. The delivery ceremony was held at the Shanghai International Circuit F1 track. Eletre has fully embedded L4-ready hardware with the world’s first deployable LiDAR system and is powered by Lotus’s proprietary 800-volt Electrical Performance Architecture. The first delivery marks a key milestone in Lotus’s transformation into an advanced, fully electric, intelligent, and sustainable luxury mobility provider ahead of its 80th anniversary in 2028. The company is now rolling out further deliveries across China and will begin delivery in the UK and EU later this year.

Lotus Technology Inc., a leading global luxury electric vehicle maker, has successfully completed its first delivery of Eletre, its first fully electric hyper SUV. The delivery ceremony was held at the Shanghai International Circuit F1 track in conjunction with the 75th anniversary of the Lotus brand.

Eletre is a luxury lifestyle vehicle that integrates Lotus’s 75 years of racing heritage and engineering expertise. It features superior aerodynamics and design, along with innovative technologies such as fully embedded L4-ready hardware with the world’s first deployable LiDAR system. The SUV is powered by Lotus’s proprietary 800-volt Electrical Performance Architecture, delivering a sportscar-like experience and enabling Lotus Tech’s 420-kilowatt supercharging solution. As of January 31, 2023, Lotus had received more than 5,000 Eletre orders worldwide.

The first Eletre delivery marks a key milestone in Lotus’s transformation into an advanced, fully electric, intelligent, and sustainable luxury mobility provider ahead of its 80th anniversary in 2028. The company is now rolling out further deliveries across China and will begin delivery in the UK and EU later this year. Planning is also underway for future delivery to the U.S. and the rest of the world, leveraging the brand’s global network.

Mr. Qingfeng Feng, Chief Executive Officer of Lotus Tech, stated, “Eletre is a crucial part of our plan to transform Lotus into a truly global electric car brand. We are a pioneer in the decarbonization of luxury automobiles, and the delivery of Eletre has demonstrated our capability to lead the energy transition and steer the industry towards a more sustainable future.”

Lotus Technology Inc., headquartered in Wuhan, China, has operations across China, the UK, and the EU. The Company is dedicated to delivering luxury lifestyle battery electric vehicles including SUVs and sedans with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation, and more.

This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the U.S. Securities Exchange Act of 1934, as amended (the “Exchange Act”). These forward-looking statements are based on current expectations, estimates, and projections about the Company’s business and prospects, as well as management’s beliefs and assumptions, and are not guarantees of future performance, conditions, or results of operations, and involve inherent risks and uncertainties, many of which are beyond the Company’s control. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

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