Q1 2025 Lotus Technology Inc Earnings Call Transcript
Key Points
- Lotus Technology Inc (LOT) delivered nearly 1,300 vehicles to distributors, marking a 42% year-on-year increase.
- User vehicle deliveries exceeded 2,000 units, up more than 10% year-on-year.
- The company achieved a notable gross margin recovery, improving to 12% from a negative margin in Q4 of the previous year.
- Lotus Technology Inc (LOT) has successfully launched a national level GT1 make racing series, enhancing brand awareness.
- The company is advancing sustainable practices and developing innovative green products, demonstrating leadership in clean mobility.
- Quarterly revenues narrowed to $93 million in the first quarter.
- The company reported an operating loss of $103 million for the quarter, a 56% year-on-year decrease.
- Net loss for the quarter was $183 million, representing a 29% reduction.
- The premium brand BEVs penetration does not meet expectations, although interest in PHEVs is growing.
- US tariff hikes have impacted the ability to export vehicles to the US market, affecting regional delivery shares.
Good day and thank you for standing by. Welcome to Lotus Technology Inc first-quarter 2025 earnings conference call.
(Operator Instructions)
Today's conference is being recorded.
I'd now like to hand the conference over to Mr. Demi Zhang from the company. Please go ahead.
Thank you, operator. Good morning. Good afternoon. Good evening, everyone.
Thank you for joining Lotus Tech's first quarter 2025 earnings call. This is Demi Zhang, the Head of IR at Lotus Tech. I'm honored to introduce and welcome company management with us today, CEO, Mr. Qingfeng Feng; and the CFO, Dr. Dauxe Wang.
Before we continue, please be reminded that today's discussion will contain forward-looking statements pursuant to the Safe Harbor provisions of the US Private Securities Litigation Reform Act of 1995. Forward-looking statements involving inherent risks and Uncertainties. As such, the company's actual results may be materially different from the views expressed today.
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