Lotus Technology, the company holding electric vehicle (EV) sales rights and technology R&D for Lotus Cars, has released its financial results for the fourth quarter and fiscal year ending December 31, 2024.
Lotus Cars delivered 12,134 vehicles in 2024, achieving the highest sales among British luxury car brands with a 74% increase from the previous year. Total revenue climbed to 924 million USD, showcasing an impressive 36% growth despite global economic headwinds and trade uncertainties.
The European market, accounting for about 40% of Lotus’s total deliveries, experienced a staggering 179% growth. This surge was driven by the all-electric hyper SUV Eletre and the hyper GT Emeya, which began deliveries in mid-2023. The combined global deliveries of these two models reached 6,862 units, a 57% increase from 2023, validating Lotus’s luxury EV strategy.
China—Lotus’s second-largest market—maintained a 25% share of total deliveries despite intensified competition and economic slowdown. In Asia-Pacific countries including South Korea, Malaysia, Thailand, Singapore, UAE, and the Philippines, Emeya’s sales launch in the fourth quarter of last year propelled growth to nearly 90% year-over-year.
