In 2023, Lotus Tech opened new flagship outlets in Paris, London, Seoul, and other strategic cities. With the creation of 46 outlets in one year to succeed in a total of 215 locations as of December 31, 2023, the logo will continue its global rollout.
Lotus London, in Mayfair, is the first flagship virtual showroom of the logo in Europe. Digital logo hubs allow consumers to make all designs and customizations.
Lotus plans to open an “Experience Center” in Munich in September. The expansion of the company’s global footprint will allow it to reach 150,000 sales by 2028.
Speaking to Motor Trader in February, Niels de Gruijter, CEO of Lotus Cars Europe B. V. , shared his key sales expectations for this year.
Today, Lotus Tech announced its monetary effects for the fourth quarter and fiscal year ended December 31, 2023.
In its first year of BEV delivery, Lotus achieved a turnover of $679 million (£537 million) and a gross profit margin of 15%. Fourth-quarter revenue of $361 million (£286 million), up 92% on the quarter. in the fourth.
By delivering 6,970 vehicles, the company set an annual record in its 76-year history, with BEV models accounting for 63% of deliveries. Vehicle deliveries in the fourth quarter rose nearly 110% quarter-over-quarter to 3,749.
Lotus posted a net loss of $750 million (£594 million) but continues to grow for 2024. The company plans to increase its total shipments to 26,000 and gross margin to 17-19%.
This will be supported by deliveries of Emeya, Lotus’ first electric hyper-grand tourer, which are underway in China and will start in Europe in the third quarter. In addition, the Eletre hyperSUV will arrive in markets such as the United States.
Qingfeng Feng, CEO of Lotus Tech, said: “We are with the initial progress and promising effects achieved in 2023, with expanding deliveries reflecting the strength of our logo and increased production. “
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Blue Motor Finance Limited (Blue), a UK-based financial provider, authorised and regulated by. . .
We wish all of our consumers and connections a successful moving day#NewRegDay
Use Keytracker’s Smart Locker formula to safely automate delivery and pickup lockers. . .
Diamondbrite, famous for its paint and fabric coating systems, has expanded its diversity with Array.
We’re excited to share the launch of our new partnership with streaming service, Kwikcast, Array.