NEW YORK, Sept. 24, 2024 (GLOBE NEWSWIRE) -- Lotus Technology Inc. ("Lotus Tech" or the "Company") (Nasdaq: LOT), a leading global intelligent luxury mobility provider, is proud to announce a major breakthrough in its intelligent driving services, marking a revolutionary step forward in the automotive industry. This advancement reflects Lotus Tech's unwavering dedication to integrating cutting-edge technology into its world-renowned luxury vehicles, redefining the driving experience for its customers.
Recent performance data from the Company's exclusive user app highlights that Lotus Tech has achieved a remarkable milestone: a single intelligent driving session for a user reaching up to 533 kilometers1 without any intervention, which is nearly the maximum range for single charging. This underscores the Company's leadership in delivering exceptional performance and reliability through its advanced intelligent driving systems.
Beyond these impressive figures, users are showcasing deep engagement with the brand's intelligent driving features. Data from Lotus Tech's user app also reveals that individual customers are logging substantial intelligent driving mileage. The highest recorded single-user monthly intelligent driving mileage has reached 3,427 kilometers1, with total cumulative intelligent driving mileage for a single user hitting an extraordinary 36,342 kilometers1.
Every Lotus Eletre (SUV) and Emeya (GT, Sedan) is optionally equipped with state-of-the-art hardware to support its end-to-end intelligent driving services provided by Lotus Robotics, a subsidiary of Lotus Tech. With these models entering key regions worldwide such as Europe, GCC, North Asia, Southeast Asia and so on, Lotus Robotics stands as one of the few automotive companies capable of offering a globally scalable intelligent driving solution, cementing its place as a global leader in intelligent automotive technology. As previously announced, Lotus Robotics has provided intelligent driving solutions to multiple global automakers including Lynk&Co and Farizon Auto.
"The milestone reflects our relentless pursuit of excellence and innovation at Lotus Tech," said Qingfeng Feng, CEO at Lotus Tech. "As we continue to push the boundaries of automotive technology, our intelligent driving services will revolutionize the way our customers experience luxury performance, while expanding our global leadership in the space."
As announced in the first half 2024 earnings release, the Company's technology-related revenue began to scale as Lotus Tech started to provide intelligent driving solutions and R&D services to multiple leading automotive brands. Lotus Tech expects this advancement in intelligent driving services to unlock new, high-margin revenue streams, further contributing to the Company's long-term profitability.
1 Note: The latest data from Lotus user app as of Sep 22, 2024.
About Lotus Technology
Lotus Technology Inc. has operations across the UK, the EU and China. The Company is dedicated to delivering luxury lifestyle battery electric vehicles, with a focus on world-class R&D in next-generation automobility technologies such as electrification, digitalisation and more. For more information about Lotus Technology Inc., please visit www.group-lotus.com.
Forward-Looking Statements
This press release contains statements that may constitute "forward-looking" statements pursuant to the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. All statements other than statements of historical fact are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as "may", "should", "expect", "intend", "will", "estimate", "anticipate", "believe", "predict", "potential", "forecast", "plan", "seek", "future", "propose" or "continue", or the negatives of these terms or variations of them or similar terminology although not all forward-looking statements contain such terminology. Forward-looking statements involve inherent risks and uncertainties, including those identified in the Company's filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and Lotus Tech undertakes no obligation to update any forward-looking statement, except as required under applicable law.
Contact Information
For investor and media inquiries
Demi Zhang
ir@group-lotus.com
