Lotus Technology (LOT) Deutsche Bank’s Depositary Receipts Virtual Investor Conference summary

Strategic transformation and growth

• Vision80 strategy aims to evolve from a traditional sports car brand to a luxury intelligent vehicle provider, expanding into SUVs and sedans with electrification and digitalization focus.

• Nearly 50% of H1 sales are from new models (Eletre SUV and Emeya sedan), with total H1 sales volume just below 5,000 units, a significant increase from previous years.

• Global distribution is balanced: Europe leads with over 30%, China has grown from 1% in 2018 to 25% in H1, and the Americas and other regions each contribute 20-30%.

• Asset-light model with manufacturing outsourced and a mix of direct and wholesale distribution, supporting rapid expansion and profitability.

• Targeting 12,000 deliveries in 2024, 30,000 by 2026, and 4% share of the luxury segment by 2028 with six models.

Product innovation and technology

• Bespoke services and ADAS (advanced driver-assistance systems) are key growth and margin drivers, with high take rates and global traction.

• ADAS business serves both Lotus vehicles and external automakers, including Lynk & Co and Farizon Auto.

• Lotus Robotics, established in 2021, develops autonomous driving solutions for both passenger and commercial vehicles, with partnerships like Farizon for interstate delivery vehicles.

• Recent launch of the Theory 1 concept car in London introduces advanced technology as a baseline for future models.

• Two new D-class models (SUV and sedan) to launch in 2025 and 2026, each about 4.8m in length, targeting family and GT segments.

Market positioning and customer base

• Early mover in electrification and digitalization, leveraging heritage and global network to attract both traditional and tech-forward customers.

• In Europe, 50% of new customers are former Porsche drivers, 30% are upgraders, and many are drawn by sustainability and ESG credentials.

• US market now represents 20-25% of sales, with strong demand for the Emira; expansion into Korea and Japan underway.

• China expected to grow from 25% to nearly 30% of volume, driven by SUV demand.

• Customization and technology adoption are key differentiators in the luxury EV segment.