Lotus Enters the GCC Region with Two Award Winning Models

NEW YORK, Aug. 30, 2024 (GLOBE NEWSWIRE) -- Lotus Technology Inc. (“Lotus Tech” or the “Company”) (Nasdaq: LOT), a leading global intelligent luxury mobility provider, today announced that it has recently obtained local homologation certification for the Eletre (SUV) model and the Emeya (GT, Sedan) model in the GCC region, paving the way for deliveries of Eletre (SUV) started in the third quarter. The milestone marks an important step as the Company continues to expand its presence in a region renowned for its passion for heritage luxury brands of automobile, racing DNA, and advanced technologies.

While deliveries of Eletre (SUV) model are on the way, reservations of Emeya (GT, Sedan) models also began. New Lotus showrooms and stores in prime locations across major cities will be available for customers to test-drive and experience the exceptional control and driving dynamics of Lotus vehicles, which embody optional advanced intelligent driving software. Bespoke service will also be available for personalization and customization, catering to reservations for limited-edition models.

Both Eletre (SUV) and Emeya (GT Sedan) are optionally equipped with state-of-art hardware that support end-to-end intelligent driving services which could be updated through OTA. The intelligent driving services were provided by Lotus Robotics, a subsidiary of Lotus Tech. Lotus Robotics has provided multiple global leading OEMs with comprehensive intelligent driving solutions, including advanced intelligent driving platform software, cloud toolchains, integrated hardware and software development, and intelligent driving operation solutions.

“The GCC region has always been a key market for Lotus, given the brand’s long-standing racing heritage,” said Qingfeng Feng, CEO at Lotus Tech. “This represents a significant step in our global expansion and resonates with our plan to bring award-winning models, with best-in-class driving experience and optionally equipped state-of-art technologies, to drivers who share the same passion as the brand.”

The Eletre model is a 5.1m E-class SUV with up to 905 horsepower and speed up to 265km/hour on different regional options. Eletre has won “SUV of the year” by GQ, “Lifestyle car of the year” by Quattroruote awards, and Red Dot product design award, in 2023 and 2024. The Emeya model is a 5.1m E-class GT, Sedan with up to 905 horsepower and speed up to 256km/hour on different regional options and won the Red Dot product design award in 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